Forestar Group (FOR) Set to Announce Earnings on Thursday

Forestar Group (NYSE:FOR) is set to issue its quarterly earnings data before the market opens on Thursday, April 18th. Analysts expect the company to announce earnings of $0.84 per share for the quarter. Forestar Group has set its FY 2024 guidance at EPS.Parties that wish to register for the company’s conference call can do so using this link.

Forestar Group (NYSE:FOR) last posted its quarterly earnings results on Tuesday, January 23rd. The oil and gas exploration company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.20. The business had revenue of $305.90 million during the quarter, compared to the consensus estimate of $273.00 million. Forestar Group had a return on equity of 13.85% and a net margin of 12.08%. During the same period last year, the firm earned $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 opened at $36.16 on Wednesday. The business’s 50 day moving average is $35.72 and its 200-day moving average is $32.15. The stock has a market cap of $1.80 billion, a PE ratio of 9.85 and a beta of 1.71. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.50. Forestar Group has a twelve month low of $15.07 and a twelve month high of $40.92.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FOR. Goldman Sachs Group Inc. raised its position in Forestar Group by 37.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 323,461 shares of the oil and gas exploration company’s stock worth $10,697,000 after purchasing an additional 88,888 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Forestar Group during the fourth quarter valued at approximately $147,000. GSA Capital Partners LLP bought a new stake in shares of Forestar Group during the fourth quarter valued at approximately $1,551,000. Legal & General Group Plc grew its stake in shares of Forestar Group by 3.7% during the fourth quarter. Legal & General Group Plc now owns 17,696 shares of the oil and gas exploration company’s stock valued at $585,000 after purchasing an additional 637 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Forestar Group by 305.0% during the fourth quarter. Barclays PLC now owns 29,412 shares of the oil and gas exploration company’s stock valued at $973,000 after purchasing an additional 22,149 shares during the last quarter. Institutional investors and hedge funds own 35.50% of the company’s stock.

Forestar Group Company Profile

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.