$0.09 EPS Expected for Forestar Group Inc. (NYSE:FOR) This Quarter

Equities research analysts predict that Forestar Group Inc. (NYSE:FOR) will post $0.09 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Forestar Group’s earnings, with the highest EPS estimate coming in at $0.09 and the lowest estimate coming in at $0.08. Forestar Group reported earnings per share of $0.22 in the same quarter last year, which indicates a negative year over year growth rate of 59.1%. The company is expected to issue its next earnings report after the market closes on Thursday, July 25th.

On average, analysts expect that Forestar Group will report full-year earnings of $0.60 per share for the current financial year. For the next financial year, analysts anticipate that the firm will post earnings of $0.80 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Forestar Group.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas exploration company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.15. The business had revenue of $65.30 million during the quarter.

Several research firms have weighed in on FOR. Wells Fargo & Co began coverage on Forestar Group in a research report on Monday, July 8th. They issued an “outperform” rating and a $23.00 price objective on the stock. Buckingham Research set a $30.00 price objective on Andersons and gave the stock a “hold” rating in a research report on Wednesday, June 5th. BTIG Research started coverage on Forestar Group in a research report on Monday, April 15th. They issued a “buy” rating and a $23.00 price objective on the stock. Finally, Zacks Investment Research lowered Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, June 26th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $21.60.

Several institutional investors and hedge funds have recently modified their holdings of FOR. Bank of Montreal Can raised its stake in shares of Forestar Group by 1,217.5% in the first quarter. Bank of Montreal Can now owns 2,029 shares of the oil and gas exploration company’s stock valued at $35,000 after buying an additional 1,875 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Forestar Group by 299.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,199 shares of the oil and gas exploration company’s stock valued at $38,000 after purchasing an additional 1,649 shares during the period. Millennium Management LLC bought a new stake in shares of Forestar Group during the 4th quarter valued at $175,000. Prudential Financial Inc. raised its stake in shares of Forestar Group by 6.8% during the 4th quarter. Prudential Financial Inc. now owns 14,712 shares of the oil and gas exploration company’s stock valued at $204,000 after purchasing an additional 939 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Forestar Group by 33.5% during the 4th quarter. Rhumbline Advisers now owns 18,088 shares of the oil and gas exploration company’s stock valued at $251,000 after purchasing an additional 4,539 shares during the period. Hedge funds and other institutional investors own 21.44% of the company’s stock.

FOR stock traded up $0.16 during midday trading on Friday, hitting $20.36. The company’s stock had a trading volume of 47,483 shares, compared to its average volume of 31,122. The company’s 50-day moving average is $18.61. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.22. Forestar Group has a 1 year low of $12.77 and a 1 year high of $25.95.

About Forestar Group

Forestar Group Inc operates as a real estate lot development company. It engages in the acquisition, entitlement, and development of infrastructure for single-family residential communities. Forestar Group Inc sells residential lots primarily to homebuilders, as well as sells commercial properties. The company is headquartered in Austin, Texas.

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