Forestar Group (NYSE:FOR) Releases Earnings Results, Beats Expectations By $0.17 EPS

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Forestar Group (NYSE:FOR) posted its earnings results on Monday. The oil and gas exploration company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.17, MarketWatch Earnings reports. Forestar Group had a net margin of 6.53% and a return on equity of 6.92%.

Shares of NYSE:FOR traded up $0.77 during trading on Wednesday, hitting $25.28. The company’s stock had a trading volume of 2,174 shares, compared to its average volume of 113,833. Forestar Group has a fifty-two week low of $10.77 and a fifty-two week high of $26.55. The business has a 50 day moving average price of $23.65 and a two-hundred day moving average price of $21.09. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.26 and a current ratio of 3.26. The company has a market capitalization of $1.22 billion, a PE ratio of 20.08, a P/E/G ratio of 3.42 and a beta of 2.15.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Forestar Group from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, April 8th. Wells Fargo & Company initiated coverage on Forestar Group in a research note on Wednesday. They set an “overweight” rating and a $32.00 price target on the stock. Citigroup raised their price target on Forestar Group from $26.00 to $30.00 in a research report on Friday, January 22nd. 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 report on Friday, January 22nd. Finally, Wolfe Research assumed coverage on Forestar Group in a report on Monday, March 22nd. They set an “outperform” rating for the company. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $24.50.

About Forestar Group

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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