Forestar Group (NYSE:FOR) Releases Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Forestar Group (NYSE:FOR - Get Free Report) issued its quarterly earnings results on Tuesday. The oil and gas exploration company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.13), Zacks reports. Forestar Group had a net margin of 10.54% and a return on equity of 10.02%. The firm had revenue of $390.50 million for the quarter, compared to the consensus estimate of $397.50 million. During the same quarter in the prior year, the firm earned $0.76 earnings per share. The company's revenue was up 22.6% on a year-over-year basis. Forestar Group updated its FY 2025 guidance to EPS.

Forestar Group Price Performance

Forestar Group stock traded down $0.93 during mid-day trading on Thursday, hitting $24.80. 94,112 shares of the company were exchanged, compared to its average volume of 196,706. The company has a market capitalization of $1.26 billion, a PE ratio of 7.77 and a beta of 1.40. The business has a fifty day moving average of $20.56 and a 200 day moving average of $21.53. Forestar Group has a 1-year low of $18.00 and a 1-year high of $34.82. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.52.

Insider Activity at Forestar Group

In related news, Director Elizabeth Parmer sold 1,460 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $20.57, for a total transaction of $30,032.20. Following the completion of the sale, the director owned 3,357 shares in the company, valued at $69,053.49. This trade represents a 30.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.40% of the company's stock.

Hedge Funds Weigh In On Forestar Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FOR. AQR Capital Management LLC boosted its holdings in shares of Forestar Group by 32.1% in the 1st quarter. AQR Capital Management LLC now owns 227,559 shares of the oil and gas exploration company's stock worth $4,811,000 after acquiring an additional 55,266 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Forestar Group by 50.8% during the first quarter. Millennium Management LLC now owns 489,230 shares of the oil and gas exploration company's stock worth $10,342,000 after purchasing an additional 164,753 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Forestar Group by 63.7% during the first quarter. NewEdge Advisors LLC now owns 4,829 shares of the oil and gas exploration company's stock worth $102,000 after purchasing an additional 1,879 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Forestar Group in the first quarter valued at $850,000. Finally, Strs Ohio bought a new position in shares of Forestar Group in the first quarter valued at about $74,000. 35.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. JMP Securities set a $30.00 price objective on Forestar Group and gave the company a "market outperform" rating in a research report on Tuesday, July 15th. Citigroup began coverage on shares of Forestar Group in a research note on Tuesday, July 15th. They set an "outperform" rating on the stock. BTIG Research dropped their price objective on shares of Forestar Group from $36.00 to $29.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Finally, Citizens Jmp started coverage on shares of Forestar Group in a report on Tuesday, July 15th. They set an "outperform" rating and a $30.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Forestar Group currently has a consensus rating of "Moderate Buy" and an average price target of $30.20.

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.