$0.09 EPS Expected for Forestar Group Inc. (FOR) This Quarter
Wall Street analysts predict that Forestar Group Inc. (NYSE:FOR) will report $0.09 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Forestar Group’s earnings. Forestar Group posted earnings of $0.11 per share in the same quarter last year, which would suggest a negative year over year growth rate of 18.2%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, May 8th.
According to Zacks, analysts expect that Forestar Group will report full year earnings of $0.45 per share for the current fiscal year. For the next financial year, analysts forecast that the company will report earnings of $0.75 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Forestar Group.
A number of equities research analysts have commented on FOR shares. BTIG Research started coverage on shares of Forestar Group in a report on Monday. They issued a “buy” rating and a $23.00 price target for the company. ValuEngine cut Forestar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. Finally, Bank of America initiated coverage on Forestar Group in a research report on Thursday, January 10th. They set a “buy” rating and a $19.00 price target for the company.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC purchased a new stake in Forestar Group in the 4th quarter valued at $175,000. MetLife Investment Advisors LLC purchased a new position in shares of Forestar Group during the 3rd quarter worth $180,000. Prudential Financial Inc. grew its holdings in shares of Forestar Group by 6.8% during the 4th quarter. Prudential Financial Inc. now owns 14,712 shares of the oil and gas exploration company’s stock worth $204,000 after purchasing an additional 939 shares during the period. Rhumbline Advisers grew its holdings in shares of Forestar Group by 33.5% during the 4th quarter. Rhumbline Advisers now owns 18,088 shares of the oil and gas exploration company’s stock worth $251,000 after purchasing an additional 4,539 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Forestar Group during the 4th quarter worth $295,000. Hedge funds and other institutional investors own 21.38% 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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