Zacks: Forrester Research, Inc. (NASDAQ:FORR) Receives Consensus Rating of “” from Analysts
Shares of Forrester Research, Inc. (NASDAQ:FORR) have been assigned an average broker rating score of 2.33 (Buy) from the three analysts that cover the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company.
Zacks has also given Forrester Research an industry rank of 73 out of 265 based on the ratings given to its competitors.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Forrester Research from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. BidaskClub raised shares of Forrester Research from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th.
Shares of Forrester Research (NASDAQ:FORR) traded up 4.95% during trading on Monday, reaching $40.30. The company had a trading volume of 61,066 shares. The firm has a 50-day moving average of $40.06 and a 200 day moving average of $39.29. The firm has a market capitalization of $714.64 million, a PE ratio of 41.12 and a beta of 0.42. Forrester Research has a 1-year low of $34.95 and a 1-year high of $44.40.
Forrester Research (NASDAQ:FORR) last announced its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.07. Forrester Research had a net margin of 5.49% and a return on equity of 13.00%. The firm had revenue of $89.70 million during the quarter, compared to analysts’ expectations of $87.51 million. During the same period in the previous year, the company earned $0.46 earnings per share. Forrester Research’s quarterly revenue was up 2.2% compared to the same quarter last year. Analysts expect that Forrester Research will post $1.18 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, September 5th. This represents a $0.76 dividend on an annualized basis and a yield of 1.89%. Forrester Research’s dividend payout ratio (DPR) is presently 77.55%.
In related news, insider Michael Morhardt sold 2,880 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $38.70, for a total value of $111,456.00. Following the completion of the sale, the insider now directly owns 5,176 shares of the company’s stock, valued at $200,311.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director George Hornig sold 2,583 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $37.36, for a total transaction of $96,500.88. Following the completion of the sale, the director now directly 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 three months, insiders sold 38,763 shares of company stock valued at $1,558,513. 46.60% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. State of Tennessee Treasury Department boosted its stake in shares of Forrester Research by 16.9% in the first quarter. State of Tennessee Treasury Department now owns 10,180 shares of the technology company’s stock worth $405,000 after buying an additional 1,475 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Forrester Research by 14.9% in the first quarter. Ameriprise Financial Inc. now owns 57,898 shares of the technology company’s stock worth $2,302,000 after buying an additional 7,495 shares during the period. Karp Capital Management Corp bought a new stake in shares of Forrester Research during the first quarter worth $236,000. Comerica Bank boosted its stake in shares of Forrester Research by 4.3% in the first quarter. Comerica Bank now owns 11,035 shares of the technology company’s stock worth $446,000 after buying an additional 459 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Forrester Research by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 185,856 shares of the technology company’s stock worth $7,387,000 after buying an additional 7,239 shares during the last quarter. 54.68% of the stock is owned by hedge funds and other institutional investors.
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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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