Forestar Group (NYSE:FOR) Posts Earnings Results, Misses Expectations By $0.15 EPS

Forestar Group (NYSE:FORGet Free Report) posted its quarterly earnings results on Tuesday. The oil and gas exploration company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.15), RTT News reports. Forestar Group had a return on equity of 9.49% and a net margin of 9.80%.During the same quarter in the prior year, the firm earned $0.65 earnings per share.

Forestar Group Stock Down 5.7%

Shares of Forestar Group stock opened at $28.18 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.36 and a quick ratio of 1.36. Forestar Group has a 1 year low of $21.77 and a 1 year high of $32.06. The firm’s 50-day moving average is $28.72 and its two-hundred day moving average is $27.43. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 8.59 and a beta of 1.39.

Institutional Investors Weigh In On Forestar Group

Several large investors have recently modified their holdings of the business. AQR Capital Management LLC boosted its stake in shares of Forestar Group by 32.1% during the first quarter. AQR Capital Management LLC now owns 227,559 shares of the oil and gas exploration company’s stock valued at $4,811,000 after purchasing an additional 55,266 shares in the last quarter. Millennium Management LLC raised its stake in Forestar Group by 50.8% in the first quarter. Millennium Management LLC now owns 489,230 shares of the oil and gas exploration company’s stock worth $10,342,000 after buying an additional 164,753 shares in the last quarter. NewEdge Advisors LLC raised its stake in Forestar Group by 63.7% in the first quarter. NewEdge Advisors LLC now owns 4,829 shares of the oil and gas exploration company’s stock worth $102,000 after buying an additional 1,879 shares in the last quarter. Jane Street Group LLC purchased a new stake in Forestar Group during the first quarter worth $850,000. Finally, Strs Ohio purchased a new stake in Forestar Group during the first quarter worth $74,000. Institutional investors own 35.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FOR shares. Zacks Research downgraded shares of Forestar Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Weiss Ratings raised Forestar Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Finally, BTIG Research began coverage on Forestar Group in a report on Monday, March 30th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $32.67.

Read Our Latest Stock Analysis on Forestar Group

About Forestar Group

(Get Free Report)

Forestar Group Inc, headquartered in Austin, Texas, is a residential lot development and management company focused on delivering finished home sites to homebuilders across the United States. The company acquires, entitles and develops land for single-family and multi-family housing, managing zoning, infrastructure and environmental approvals to prepare lots for construction. Forestar’s integrated approach to land development spans from initial site acquisition through final lot delivery, providing homebuilders with ready-to-build parcels in a variety of markets.

In addition to lot development, Forestar operates a retail homebuilding segment through joint ventures and strategic partnerships with national and regional homebuilders.

Featured Articles

Earnings History for Forestar Group (NYSE:FOR)

Receive News & Ratings for Forestar Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forestar Group and related companies with MarketBeat.com's FREE daily email newsletter.