$0.13 EPS Expected for Forestar Group Inc. (NYSE:FOR) This Quarter

Wall Street brokerages predict that Forestar Group Inc. (NYSE:FOR) will post earnings of $0.13 per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Forestar Group’s earnings, with estimates ranging from $0.12 to $0.14. The firm is expected to issue its next earnings results on Thursday, October 24th.

According to Zacks, analysts expect that Forestar Group will report full year earnings of $0.56 per share for the current fiscal year, with EPS estimates ranging from $0.50 to $0.60. For the next fiscal year, analysts expect that the firm will post earnings of $0.86 per share, with EPS estimates ranging from $0.80 to $0.96. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Forestar Group.

Forestar Group (NYSE:FOR) last released its quarterly earnings data on Thursday, July 25th. The oil and gas exploration company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.07. The business had revenue of $88.20 million during the quarter.

Several research analysts have issued reports on the company. Zacks Investment Research cut Forestar Group from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th. Wells Fargo & Co assumed coverage on Forestar Group in a research report on Monday, July 8th. They issued an “outperform” rating and a $23.00 price objective for the company. BTIG Research set a $24.00 price objective on Forestar Group and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Buckingham Research assumed coverage on Forestar Group in a research report on Wednesday, June 5th. They issued a “buy” rating and a $23.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $21.80.

NYSE:FOR traded down $0.55 during trading hours on Monday, hitting $18.96. The company’s stock had a trading volume of 19,645 shares, compared to its average volume of 33,624. The company has a 50-day moving average price of $19.62. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.63 and a current ratio of 2.63. Forestar Group has a 52-week low of $12.77 and a 52-week high of $25.95.

Large investors have recently added to or reduced their stakes in the business. Bank of Montreal Can raised its position 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 worth $35,000 after acquiring an additional 1,875 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings 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 purchasing an additional 1,649 shares during the last quarter. Millennium Management LLC acquired a new stake in Forestar Group in the fourth quarter valued at $175,000. Norges Bank acquired a new stake in Forestar Group in the fourth quarter valued at $302,000. Finally, Swiss National Bank grew its holdings in Forestar Group by 5.4% in the second quarter. Swiss National Bank now owns 19,517 shares of the oil and gas exploration company’s stock valued at $382,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 21.42% of the company’s stock.

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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