Zacks Investment Research Lowers Forrester Research Inc. (FORR) to Hold
Forrester Research Inc. (NASDAQ:FORR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Forrester Research, Inc. is a leading independent Internet research firm that conducts research and analysis on the impact of the Internet and emerging technologies on business strategy, consumer behavior and society. The company provide clients with a comprehensive and integrated perspective on technology and business, which we call the Whole View of Internet commerce. The company’s Whole View approach helps companies evolve their business models and infrastructure to embrace broader on-line markets and to scale their Internet operations. “
Separately, Barrington Research reaffirmed a “market perform” rating on shares of Forrester Research in a research report on Wednesday, June 22nd.
Forrester Research (NASDAQ:FORR) traded down 0.62% during trading on Tuesday, reaching $38.76. The company had a trading volume of 29,543 shares. The company has a market capitalization of $699.97 million, a price-to-earnings ratio of 45.55 and a beta of 0.56. The company has a 50-day moving average price of $40.37 and a 200 day moving average price of $37.41. Forrester Research has a one year low of $27.05 and a one year high of $42.01.
Forrester Research (NASDAQ:FORR) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.13. The business had revenue of $87.80 million for the quarter, compared to analysts’ expectations of $84.98 million. Forrester Research had a net margin of 4.66% and a return on equity of 12.68%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 earnings per share. Analysts expect that Forrester Research will post $1.20 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, September 7th were issued a dividend of $0.18 per share. The ex-dividend date was Friday, September 2nd. This represents a $0.72 annualized dividend and a dividend yield of 1.86%. Forrester Research’s dividend payout ratio is currently 86.75%.
Institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in shares of Forrester Research by 5.7% in the first quarter. Wellington Management Group LLP now owns 1,970,732 shares of the company’s stock valued at $66,237,000 after buying an additional 105,534 shares in the last quarter. Analytic Investors LLC raised its position in shares of Forrester Research by 116.3% in the second quarter. Analytic Investors LLC now owns 62,914 shares of the company’s stock valued at $2,319,000 after buying an additional 33,821 shares in the last quarter. GW&K Investment Management LLC raised its position in shares of Forrester Research by 30.6% in the second quarter. GW&K Investment Management LLC now owns 108,923 shares of the company’s stock valued at $4,015,000 after buying an additional 25,550 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Forrester Research during the second quarter valued at $726,000. Finally, Emerald Acquisition Ltd. bought a new position in shares of Forrester Research during the second quarter valued at $713,000. Hedge funds and other institutional investors own 53.65% of the company’s stock.
About Forrester Research
Forrester Research, Inc (Forrester) is a global independent research, data, and advisory services firm. The Company offers research, data, advisory and related services that are thematic, prescriptive, and executable, and that provide a perspective on the changing business environment. Its segments include Research, Product and Project Consulting.
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