Forestar Group (NYSE:FOR) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS


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Forestar Group (NYSE:FOR) posted its earnings results on Wednesday. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.09, MarketWatch Earnings reports. Forestar Group had a return on equity of 6.92% and a net margin of 6.53%.

NYSE FOR opened at $22.37 on Friday. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 3.42 and a beta of 2.15. The stock’s 50 day moving average price is $20.75 and its two-hundred day moving average price is $18.65. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.26 and a current ratio of 3.26. Forestar Group has a 52 week low of $9.43 and a 52 week high of $23.97.

Several brokerages recently issued reports on FOR. Zacks Investment Research upgraded Forestar Group from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a research report on Wednesday, November 11th. Bank of America boosted their price objective on Forestar Group from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Friday. TheStreet upgraded Forestar Group from a “c” rating to a “b-” rating in a research report on Tuesday, November 10th. Finally, Citigroup boosted their price objective on Forestar Group from $26.00 to $30.00 in a research report on Friday. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Forestar Group currently has a consensus rating of “Buy” and a consensus target price of $20.50.

Forestar Group Company Profile

Forestar Group Inc operates as a residential lot development company in the United States. It engages in the acquisition, entitlement, and development of infrastructure for single-family residential communities. Forestar Group Inc sells residential lots primarily to homebuilders. The company was incorporated in 1955 and is headquartered in Arlington, Texas.

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Earnings History for Forestar Group (NYSE:FOR)

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