Zacks: Forrester Research, Inc. (FORR) Given Consensus Recommendation of “Hold” by Analysts
Shares of Forrester Research, Inc. (NASDAQ:FORR) have been assigned an average broker rating score of 3.00 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating. Forrester Research’s rating score has declined by 28.8% in the last three months as a result of various analysts’ ratings changes.
Zacks has also assigned Forrester Research an industry rank of 76 out of 265 based on the ratings given to its competitors.
Several equities research analysts have commented on FORR shares. Zacks Investment Research lowered Forrester Research from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 26th. BidaskClub lowered Forrester Research from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th.
Forrester Research (NASDAQ:FORR) last issued its earnings results on Wednesday, October 25th. The technology company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.07. The firm had revenue of $80.40 million for the quarter, compared to analyst estimates of $78.92 million. Forrester Research had a return on equity of 13.80% and a net margin of 5.70%. Forrester Research’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 earnings per share. equities analysts anticipate that Forrester Research will post 0.92 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th were given a $0.19 dividend. The ex-dividend date was Tuesday, December 5th. This represents a $0.76 annualized dividend and a yield of 1.75%. Forrester Research’s dividend payout ratio is presently 73.79%.
In other Forrester Research news, insider Scott Chouinard sold 887 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $44.25, for a total value of $39,249.75. Following the sale, the insider now owns 2,261 shares in the company, valued at approximately $100,049.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director George Hornig sold 11,530 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $46.62, for a total value of $537,528.60. Following the completion of the sale, the director now owns 18,921 shares in the company, valued at approximately $882,097.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,722 shares of company stock worth $1,142,617. Insiders own 44.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Northern Trust Corp raised its stake in shares of Forrester Research by 10.1% during the 2nd quarter. Northern Trust Corp now owns 152,154 shares of the technology company’s stock worth $5,956,000 after buying an additional 14,003 shares during the period. Vanguard Group Inc. raised its stake in shares of Forrester Research by 4.8% during the 2nd quarter. Vanguard Group Inc. now owns 961,242 shares of the technology company’s stock worth $37,633,000 after buying an additional 44,180 shares during the period. Ballentine Partners LLC raised its stake in shares of Forrester Research by 100.0% during the 3rd quarter. Ballentine Partners LLC now owns 500,037 shares of the technology company’s stock worth $20,927,000 after buying an additional 250,000 shares during the period. OxFORD Asset Management LLP raised its stake in shares of Forrester Research by 54.7% during the 2nd quarter. OxFORD Asset Management LLP now owns 8,994 shares of the technology company’s stock worth $352,000 after buying an additional 3,179 shares during the period. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of Forrester Research during the 2nd quarter worth approximately $307,000. 54.27% of the stock is owned by institutional investors and hedge funds.
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Forrester Research Company Profile
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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