Forrester Research, Inc. (NASDAQ:FORR) Issues Quarterly Earnings Results
Forrester Research, Inc. (NASDAQ:FORR) released its quarterly earnings results on Wednesday. The technology company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.07, Morningstar.com reports. The business had revenue of $89.70 million during the quarter, compared to analysts’ expectations of $87.51 million. Forrester Research had a return on equity of 13.85% and a net margin of 5.95%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 EPS. Forrester Research updated its Q3 guidance to $0.21-0.25 EPS and its FY17 guidance to $1.13-1.20 EPS.
Forrester Research (FORR) traded down 1.80% during trading on Thursday, reaching $40.85. The company’s stock had a trading volume of 57,642 shares. Forrester Research has a one year low of $34.95 and a one year high of $44.40. The stock has a 50-day moving average of $39.74 and a 200 day moving average of $39.42. The firm has a market capitalization of $724.60 million, a P/E ratio of 38.72 and a beta of 0.41.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.86%. The ex-dividend date is Tuesday, September 5th. Forrester Research’s dividend payout ratio is presently 72.38%.
FORR has been the subject of several research analyst reports. BidaskClub upgraded Forrester Research from a “buy” rating to a “strong-buy” rating in a report on Monday. Zacks Investment Research upgraded Forrester Research from a “sell” rating to a “hold” rating in a report on Tuesday, April 11th.
In other Forrester Research news, insider Steven P. Peltzman sold 18,595 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $40.02, for a total transaction of $744,171.90. Following the completion of the sale, the insider now directly owns 12,418 shares in the company, valued at approximately $496,968.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director George Hornig sold 2,583 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $37.36, for a total value of $96,500.88. Following the sale, the director now owns 4,425 shares of the company’s stock, valued at $165,318. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,487 shares of company stock valued at $2,291,454. 46.60% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of FORR. Russell Investments Group Ltd. bought a new stake in Forrester Research during the fourth quarter worth about $442,000. Comerica Bank raised its stake in Forrester Research by 5.6% in the fourth quarter. Comerica Bank now owns 10,576 shares of the technology company’s stock worth $445,000 after buying an additional 560 shares during the period. State Street Corp raised its stake in Forrester Research by 8.0% in the fourth quarter. State Street Corp now owns 236,133 shares of the technology company’s stock worth $10,142,000 after buying an additional 17,441 shares during the period. FMR LLC raised its stake in Forrester Research by 17.9% in the fourth quarter. FMR LLC now owns 150,300 shares of the technology company’s stock worth $6,455,000 after buying an additional 22,845 shares during the period. Finally, Guggenheim Capital LLC bought a new stake in Forrester Research during the fourth quarter worth about $1,007,000. Institutional investors and hedge funds own 53.54% of the company’s stock.
About Forrester Research
Forrester Research, Inc (Forrester) is an independent research, data, and advisory services firm. The Company offers research, data, advisory and related services that are thematic, prescriptive and executable, and that provide a perspective on the changing business environment. Its segments include Research, Product and Project Consulting.
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