Forestar Group (NYSE:FOR) Announces Earnings Results, Misses Estimates By $0.13 EPS

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

Forestar Group Stock Performance

Shares of Forestar Group stock traded down $0.05 during mid-day trading on Friday, hitting $24.95. 36,667 shares of the stock were exchanged, compared to its average volume of 196,247. Forestar Group has a 12 month low of $18.00 and a 12 month high of $34.82. The company has a 50-day simple moving average of $20.66 and a 200 day simple moving average of $21.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market capitalization of $1.27 billion, a P/E ratio of 7.80 and a beta of 1.40.

Insider Activity at Forestar Group

In other Forestar Group news, Director Elizabeth Parmer sold 1,460 shares of Forestar Group stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $20.57, for a total transaction of $30,032.20. Following the transaction, the director owned 3,357 shares of the company's stock, valued at $69,053.49. This trade represents a 30.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Forestar Group

Hedge funds have recently modified their holdings of the stock. Millennium Management LLC raised its holdings in shares of Forestar Group by 50.8% in the 1st 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 period. AQR Capital Management LLC raised 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 purchasing an additional 55,266 shares during the period. Jane Street Group LLC bought a new stake in shares of Forestar Group in the 1st quarter worth approximately $850,000. NewEdge Advisors LLC raised its holdings in shares of Forestar Group by 63.7% in the 1st 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 period. Finally, Strs Ohio bought a new stake in shares of Forestar Group in the 1st quarter worth approximately $74,000. Institutional investors own 35.50% of the company's stock.

Analyst Ratings Changes

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

About Forestar Group

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.