Analysts expect that Forestar Group Inc. (NYSE:FOR) will report $0.12 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have made estimates for Forestar Group’s earnings. Forestar Group reported earnings of $0.08 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 50%. The firm is expected to announce its next quarterly earnings results on Tuesday, February 4th.
According to Zacks, analysts expect that Forestar Group will report full year earnings of $0.91 per share for the current fiscal year, with EPS estimates ranging from $0.87 to $0.95. For the next financial year, analysts forecast that the business will report earnings of $0.95 per share. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Forestar Group.
Forestar Group (NYSE:FOR) last issued its quarterly earnings results on Thursday, November 7th. The oil and gas exploration company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.14. Forestar Group had a return on equity of 4.52% and a net margin of 7.70%. The business had revenue of $236.30 million during the quarter.
Separately, Zacks Investment Research upgraded Forestar Group from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Tuesday, October 1st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $21.80.
In other news, Director G.F. (Rick) Ringler III sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $20.87, for a total value of $41,740.00. 0.15% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can grew its stake in Forestar Group by 43.4% during the 2nd quarter. Bank of Montreal Can now owns 2,910 shares of the oil and gas exploration company’s stock worth $57,000 after buying an additional 881 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Forestar Group by 2.3% in the second quarter. Renaissance Technologies LLC now owns 45,100 shares of the oil and gas exploration company’s stock worth $882,000 after purchasing an additional 1,000 shares in the last quarter. Swiss National Bank grew its stake in shares of Forestar Group by 5.4% in the second quarter. Swiss National Bank now owns 19,517 shares of the oil and gas exploration company’s stock worth $382,000 after purchasing an additional 1,000 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Forestar Group by 7.7% in the third quarter. Rhumbline Advisers now owns 19,234 shares of the oil and gas exploration company’s stock worth $352,000 after purchasing an additional 1,381 shares in the last quarter. Finally, Heartland Advisors Inc. grew its stake in shares of Forestar Group by 2.1% in the second quarter. Heartland Advisors Inc. now owns 93,420 shares of the oil and gas exploration company’s stock worth $1,826,000 after purchasing an additional 1,930 shares in the last quarter. Hedge funds and other institutional investors own 30.82% of the company’s stock.
Shares of NYSE FOR traded up $0.05 during trading on Wednesday, reaching $19.97. The stock had a trading volume of 52,400 shares, compared to its average volume of 70,194. Forestar Group has a one year low of $12.77 and a one year high of $23.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.00 and a current ratio of 4.00. The stock has a market cap of $979.34 million, a PE ratio of 25.28, a P/E/G ratio of 1.69 and a beta of 1.88. The firm’s 50 day moving average price is $19.51 and its two-hundred day moving average price is $19.18.
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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