Forestar Group (NYSE:FOR) Shares Gap Down After Earnings Miss

Forestar Group Inc. (NYSE:FOR) gapped down prior to trading on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $26.79, but opened at $25.00. Forestar Group shares last traded at $25.55, with a volume of 49,126 shares trading hands.

The oil and gas exploration company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.33). The company had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $318,000 billion. Forestar Group had a net margin of 13.48% and a return on equity of 13.59%. The company’s revenue was down 18.1% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Separately, Citigroup dropped their price objective on shares of Forestar Group from $43.00 to $39.00 and set a “buy” rating for the company in a report on Monday, January 6th.

Institutional Trading of Forestar Group

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC boosted its holdings in Forestar Group by 43.3% in the fourth quarter. SG Americas Securities LLC now owns 5,727 shares of the oil and gas exploration company’s stock worth $148,000 after acquiring an additional 1,731 shares in the last quarter. Hennessy Advisors Inc. boosted its stake in Forestar Group by 6.9% in the 4th quarter. Hennessy Advisors Inc. now owns 254,000 shares of the oil and gas exploration company’s stock worth $6,584,000 after purchasing an additional 16,300 shares in the last quarter. Carolina Wealth Advisors LLC grew its position in Forestar Group by 2.3% during the 4th quarter. Carolina Wealth Advisors LLC now owns 20,589 shares of the oil and gas exploration company’s stock worth $534,000 after purchasing an additional 454 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Forestar Group by 37.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 21,650 shares of the oil and gas exploration company’s stock worth $561,000 after buying an additional 5,847 shares during the last quarter. Finally, CWA Asset Management Group LLC lifted its stake in shares of Forestar Group by 24.2% during the fourth quarter. CWA Asset Management Group LLC now owns 19,374 shares of the oil and gas exploration company’s stock worth $502,000 after buying an additional 3,778 shares during the period. 35.50% of the stock is currently owned by institutional investors.

Forestar Group Stock Down 4.7 %

The stock has a market capitalization of $1.29 billion, a PE ratio of 6.37 and a beta of 1.74. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.61. The business’s fifty day moving average price is $27.60 and its two-hundred day moving average price is $30.05.

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.