Zacks: Forestar Group Inc. (NYSE:FOR) Given Consensus Recommendation of “Strong Buy” by Brokerages
Forestar Group Inc. (NYSE:FOR) has been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.
Analysts have set a twelve-month consensus target price of $16.50 for the company and are forecasting that the company will post $0.04 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Forestar Group an industry rank of 204 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research upgraded Forestar Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 12th.
Forestar Group (NYSE:FOR) opened at 11.33 on Wednesday. The company’s market cap is $388.63 million. The company has a 50-day moving average of $12.23 and a 200-day moving average of $12.27. Forestar Group has a 52 week low of $7.95 and a 52 week high of $14.87.
Forestar Group (NYSE:FOR) last released its earnings results on Friday, July 29th. The oil and gas exploration company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.13. Forestar Group had a positive return on equity of 7.06% and a negative net margin of 66.84%. The business earned $46.40 million during the quarter, compared to the consensus estimate of $44.80 million. During the same period last year, the company earned $0.06 earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts expect that Forestar Group will post $0.30 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System increased its stake in Forestar Group by 1.2% in the second quarter. Arizona State Retirement System now owns 17,586 shares of the oil and gas exploration company’s stock valued at $209,000 after buying an additional 200 shares during the period. Stifel Financial Corp raised its position in shares of Forestar Group by 2.5% in the second quarter. Stifel Financial Corp now owns 11,049 shares of the oil and gas exploration company’s stock valued at $131,000 after buying an additional 269 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Forestar Group by 0.6% in the second quarter. California State Teachers Retirement System now owns 71,685 shares of the oil and gas exploration company’s stock valued at $852,000 after buying an additional 438 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Forestar Group by 0.8% in the second quarter. Prudential Financial Inc. now owns 80,709 shares of the oil and gas exploration company’s stock valued at $960,000 after buying an additional 660 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of Forestar Group by 4.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 26,542 shares of the oil and gas exploration company’s stock valued at $316,000 after buying an additional 1,112 shares in the last quarter.
Forestar Group Company Profile
Forestar Group Inc is a residential and mixed-use real estate development company. The Company operates through three segments: Real Estate, Oil and Gas, and Other Natural Resources. Its Real Estate segment secures entitlements and develops infrastructure on its lands for single-family residential and mixed-use communities, and manages its undeveloped land, commercial and income producing properties, mainly a hotel and its multifamily properties.
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