Equities research analysts expect Forestar Group Inc. (NYSE:FOR) to report earnings of $0.09 per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Forestar Group’s earnings, with estimates ranging from $0.08 to $0.09. Forestar Group posted earnings of $0.22 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 59.1%. The firm is expected to issue its next quarterly earnings report after the market closes on Thursday, July 25th.
On average, analysts expect that Forestar Group will report full year earnings of $0.53 per share for the current fiscal year, with EPS estimates ranging from $0.42 to $0.60. For the next financial year, analysts anticipate that the company will post earnings of $1.00 per share, with EPS estimates ranging from $0.80 to $1.23. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Forestar Group.
Forestar Group (NYSE:FOR) last released its earnings results on Tuesday, April 30th. The oil and gas exploration company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.15. The firm had revenue of $65.30 million for the quarter.
A number of research analysts recently weighed in on the stock. Buckingham Research set a $30.00 target price on shares of Andersons and gave the company a “hold” rating in a research note on Wednesday, June 5th. BTIG Research assumed coverage on shares of Forestar Group in a research note on Monday, April 15th. They set a “buy” rating and a $23.00 target price on the stock. Zacks Investment Research cut shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, June 26th. Finally, Wells Fargo & Co assumed coverage on shares of Forestar Group in a research note on Monday, July 8th. They set an “outperform” rating and a $23.00 target price on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $21.60.
Shares of FOR traded down $0.30 during trading hours on Friday, reaching $19.41. 14,816 shares of the stock traded hands, compared to its average volume of 38,823. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.23 and a current ratio of 1.23. Forestar Group has a 52-week low of $12.77 and a 52-week high of $25.95. The company’s 50-day simple moving average is $18.88.
A number of hedge funds have recently made changes to their positions in the business. Prudential Financial Inc. lifted its stake in Forestar Group by 6.8% in the 4th quarter. Prudential Financial Inc. now owns 14,712 shares of the oil and gas exploration company’s stock worth $204,000 after purchasing an additional 939 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Forestar Group by 299.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,199 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 1,649 shares in the last quarter. Bank of Montreal Can lifted its stake in Forestar Group by 1,217.5% in the 1st quarter. Bank of Montreal Can now owns 2,029 shares of the oil and gas exploration company’s stock worth $35,000 after purchasing an additional 1,875 shares in the last quarter. Rhumbline Advisers lifted its stake in Forestar Group by 33.5% in the 4th quarter. Rhumbline Advisers now owns 18,088 shares of the oil and gas exploration company’s stock worth $251,000 after purchasing an additional 4,539 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in Forestar Group by 12.5% in the 1st quarter. Marshall Wace LLP now owns 49,883 shares of the oil and gas exploration company’s stock worth $862,000 after purchasing an additional 5,556 shares in the last quarter. Institutional investors and hedge funds own 21.42% of the company’s stock.
Forestar Group Company Profile
Forestar Group Inc operates as a real estate lot development company. It engages in the acquisition, entitlement, and development of infrastructure for single-family residential communities. Forestar Group Inc sells residential lots primarily to homebuilders, as well as sells commercial properties. The company is headquartered in Austin, Texas.
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