Forestar Group (FOR) to Release Earnings on Thursday

Forestar Group (NYSE:FOR) will post its quarterly earnings results before the market opens on Thursday, April 18th. Analysts expect Forestar Group to post earnings of $0.84 per share for the quarter. Forestar Group has set its FY 2024 guidance at EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Forestar Group (NYSE:FOR) last released its quarterly earnings results on Tuesday, January 23rd. The oil and gas exploration company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.56 by $0.20. The business had revenue of $305.90 million during the quarter, compared to analyst estimates of $273.00 million. Forestar Group had a net margin of 12.08% and a return on equity of 13.85%. During the same period in the prior year, the firm posted $0.42 earnings per share. On average, analysts expect Forestar Group to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Forestar Group Stock Performance

FOR stock opened at $36.94 on Tuesday. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 10.07 and a beta of 1.71. The firm has a 50-day simple moving average of $35.61 and a two-hundred day simple moving average of $32.09. Forestar Group has a one year low of $15.07 and a one year high of $40.92. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.01 and a current ratio of 2.01.

Hedge Funds Weigh In On Forestar Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in Forestar Group by 2,293.6% in the 4th quarter. JPMorgan Chase & Co. now owns 401,976 shares of the oil and gas exploration company’s stock worth $6,194,000 after purchasing an additional 385,182 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in Forestar Group in the 1st quarter worth approximately $35,000. Nuveen Asset Management LLC boosted its position in Forestar Group by 75.4% in the 4th quarter. Nuveen Asset Management LLC now owns 353,833 shares of the oil and gas exploration company’s stock worth $11,701,000 after purchasing an additional 152,160 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Forestar Group by 11.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,366,272 shares of the oil and gas exploration company’s stock worth $21,257,000 after purchasing an additional 141,122 shares in the last quarter. Finally, First Trust Advisors LP purchased a new stake in Forestar Group in the 4th quarter worth approximately $4,199,000. Institutional investors and hedge funds own 35.50% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Forestar Group from a “buy” rating to a “hold” rating in a report on Saturday. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Forestar Group presently has an average rating of “Moderate Buy” and a consensus target price of $32.50.

About Forestar Group

Forestar Group Inc operates as a residential lot development company in the United States. The company acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to local, regional, and national homebuilders. The company was incorporated in 2005 and is headquartered in Arlington, Texas.