Zacks: Forestar Group Inc. (NYSE:FOR) Given Consensus Recommendation of “Strong Buy” by Brokerages
Forestar Group Inc. (NYSE:FOR) has been given a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.
Brokerages have set a 12-month consensus price target of $16.50 for the company and are forecasting that the company will post $0.04 EPS for the current quarter, according to Zacks. Zacks has also assigned Forestar Group an industry rank of 176 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research upgraded shares of Forestar Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 12th.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/10/zacks-forestar-group-inc-nysefor-given-consensus-recommendation-of-strong-buy-by-brokerages.html
Shares of Forestar Group (NYSE:FOR) traded up 1.16% during trading on Monday, reaching $11.29. 19,046 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $11.95 and its 200 day moving average price is $12.28. The firm’s market capitalization is $387.26 million. Forestar Group has a 52 week low of $7.95 and a 52 week high of $14.87.
Forestar Group (NYSE:FOR) last issued its earnings results on Friday, July 29th. The oil and gas exploration company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.13. The company had revenue of $46.40 million for the quarter, compared to analysts’ expectations of $44.80 million. Forestar Group had a negative net margin of 66.84% and a positive return on equity of 7.06%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 earnings per share. Analysts predict that Forestar Group will post $0.30 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the company. Societe Generale purchased a new position in Forestar Group during the second quarter valued at approximately $102,000. BlackRock Inc. raised its position in Forestar Group by 147.4% in the second quarter. BlackRock Inc. now owns 9,643 shares of the oil and gas exploration company’s stock valued at $115,000 after buying an additional 5,745 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Forestar Group by 125.3% in the second quarter. BNP Paribas Arbitrage SA now owns 10,462 shares of the oil and gas exploration company’s stock valued at $124,000 after buying an additional 5,819 shares in the last quarter. Trexquant Investment LP purchased a new position in Forestar Group during the second quarter valued at approximately $125,000. Finally, Stifel Financial Corp raised its position in Forestar Group by 2.5% in the second quarter. Stifel Financial Corp now owns 11,049 shares of the oil and gas exploration company’s stock valued at $131,000 after buying an additional 269 shares in the last quarter.
Forestar Group Company Profile
Forestar Group Inc is a residential and mixed-use real estate development company. The Company operates through three segments: Real Estate, Oil and Gas, and Other Natural Resources. Its Real Estate segment secures entitlements and develops infrastructure on its lands for single-family residential and mixed-use communities, and manages its undeveloped land, commercial and income producing properties, mainly a hotel and its multifamily properties.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Forestar Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forestar Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.