Analysts Expect Forestar Group Inc. (FOR) Will Post Earnings of $0.10 Per Share
Wall Street analysts expect Forestar Group Inc. (NYSE:FOR) to report earnings per share (EPS) of $0.10 for the current quarter, Zacks reports. Zero analysts have issued estimates for Forestar Group’s earnings. Forestar Group posted earnings per share of ($0.13) during the same quarter last year, which indicates a positive year-over-year growth rate of 176.9%. The business is scheduled to issue its next earnings results on Tuesday, May 9th.
According to Zacks, analysts expect that Forestar Group will report full-year earnings of $0.50 per share for the current fiscal year. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Forestar Group.
Forestar Group (NYSE:FOR) last released its quarterly earnings results on Wednesday, March 1st. The oil and gas exploration company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.15. Forestar Group had a net margin of 3.48% and a return on equity of 12.38%. The business earned $64.50 million during the quarter, compared to the consensus estimate of $48 million. During the same quarter last year, the company earned $0.45 earnings per share. The business’s quarterly revenue was down 38.8% compared to the same quarter last year.
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FOR has been the topic of a number of analyst reports. Zacks Investment Research cut Forestar Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 10th. TheStreet upgraded Forestar Group from a “c+” rating to a “b” rating in a research report on Monday, April 10th.
A number of hedge funds have recently made changes to their positions in FOR. Renaissance Technologies LLC boosted its stake in shares of Forestar Group by 47.4% in the fourth quarter. Renaissance Technologies LLC now owns 405,800 shares of the oil and gas exploration company’s stock valued at $5,397,000 after buying an additional 130,500 shares during the last quarter. Oxford Asset Management acquired a new stake in shares of Forestar Group during the fourth quarter valued at approximately $1,518,000. Russell Investments Group Ltd. acquired a new stake in shares of Forestar Group during the fourth quarter valued at approximately $2,891,000. Dimensional Fund Advisors LP boosted its stake in shares of Forestar Group by 8.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,123,557 shares of the oil and gas exploration company’s stock valued at $28,243,000 after buying an additional 170,330 shares during the last quarter. Finally, K2 Principal Fund L.P. boosted its stake in shares of Forestar Group by 149.3% in the third quarter. K2 Principal Fund L.P. now owns 74,148 shares of the oil and gas exploration company’s stock valued at $868,000 after buying an additional 44,400 shares during the last quarter.
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Shares of Forestar Group (NYSE:FOR) opened at 14.20 on Thursday. The firm has a market cap of $590.95 million, a P/E ratio of 10.25 and a beta of 1.83. Forestar Group has a 52-week low of $10.60 and a 52-week high of $14.40. The stock’s 50 day moving average is $13.46 and its 200-day moving average is $12.79.
About Forestar Group
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.
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