Zacks: Analysts Anticipate Forestar Group Inc. (NYSE:FOR) to Announce $0.09 EPS

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

On average, analysts expect that Forestar Group will report full year earnings of $0.53 per share for the current fiscal year, with EPS estimates ranging from $0.42 to $0.60. For the next financial year, analysts anticipate that the firm will post earnings of $1.00 per share, with EPS estimates ranging from $0.80 to $1.23. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for Forestar Group.

Forestar Group (NYSE:FOR) last issued its quarterly earnings results on Tuesday, April 30th. The oil and gas exploration company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.15. The firm had revenue of $65.30 million for the quarter.

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

A number of large investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. lifted its stake in Forestar Group by 6.8% in the fourth quarter. Prudential Financial Inc. now owns 14,712 shares of the oil and gas exploration company’s stock valued at $204,000 after buying an additional 939 shares during the period. BNP Paribas Arbitrage SA lifted its stake in Forestar Group by 299.8% in the first quarter. BNP Paribas Arbitrage SA now owns 2,199 shares of the oil and gas exploration company’s stock valued at $38,000 after buying an additional 1,649 shares during the period. Bank of Montreal Can lifted its stake in 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. Rhumbline Advisers lifted its stake in Forestar Group by 33.5% in the fourth quarter. Rhumbline Advisers now owns 18,088 shares of the oil and gas exploration company’s stock valued at $251,000 after buying an additional 4,539 shares during the period. Finally, Marshall Wace LLP lifted its stake in Forestar Group by 12.5% in the first quarter. Marshall Wace LLP now owns 49,883 shares of the oil and gas exploration company’s stock valued at $862,000 after buying an additional 5,556 shares during the period. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FOR traded down $0.30 during trading hours on Friday, hitting $19.41. 14,816 shares of the stock traded hands, compared to its average volume of 38,823. The company has a quick ratio of 1.23, a current 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. The firm has a fifty day simple moving average of $18.88.

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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