Forestar Group Inc. (NYSE:FOR) Expected to Announce Earnings of $0.15 Per Share

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Brokerages forecast that Forestar Group Inc. (NYSE:FOR) will report $0.15 earnings per share (EPS) 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 $0.15 and the lowest estimate coming in at $0.14. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, November 7th.

According to Zacks, analysts expect that Forestar Group will report full-year earnings of $0.57 per share for the current year, with EPS estimates ranging from $0.50 to $0.64. For the next year, analysts anticipate that the business will report earnings of $0.90 per share, with EPS estimates ranging from $0.83 to $0.96. Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Forestar Group.

Forestar Group (NYSE:FOR) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.07. The firm had revenue of $88.20 million during the quarter.

Several analysts have recently weighed in on FOR shares. BTIG Research set a $24.00 price target on shares of Forestar Group and gave the company a “buy” rating in a research note on Friday, July 26th. Wells Fargo & Co started coverage on shares of Forestar Group in a research note on Monday, July 8th. They issued an “outperform” rating and a $23.00 price target for the company. Finally, Zacks Investment Research raised shares of Forestar Group from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $21.80.

Forestar Group stock opened at $18.36 on Friday. The firm has a 50 day simple moving average of $19.26 and a 200-day simple moving average of $18.93. Forestar Group has a 1-year low of $12.77 and a 1-year high of $23.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.63 and a quick ratio of 2.63.

Several institutional investors have recently bought and sold shares of the company. Maltese Capital Management LLC purchased a new position in shares of Forestar Group during the 2nd quarter worth approximately $2,682,000. Bamco Inc. NY purchased a new position in shares of Forestar Group during the 2nd quarter worth approximately $3,580,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Forestar Group during the 2nd quarter worth approximately $341,000. BlackRock Inc. boosted its position in shares of Forestar Group by 1.3% during the 2nd quarter. BlackRock Inc. now owns 742,263 shares of the oil and gas exploration company’s stock worth $14,511,000 after purchasing an additional 9,553 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Forestar Group by 3.5% during the 2nd quarter. Northern Trust Corp now owns 139,776 shares of the oil and gas exploration company’s stock worth $2,733,000 after purchasing an additional 4,685 shares during the period. 18.70% of the stock is owned by institutional investors and hedge funds.

Forestar Group Company Profile

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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