Forestar Group Inc. (FOR) Trading Down 2.8%
Shares of Forestar Group Inc. (NYSE:FOR) were down 2.8% during mid-day trading on Friday . The company traded as low as $12.34 and last traded at $12.36, with a volume of 59,832 shares. The stock had previously closed at $12.72.
Separately, Zacks Investment Research downgraded Forestar Group from a “hold” rating to a “strong sell” rating in a report on Monday, May 16th.
The stock’s market capitalization is $424.99 million. The firm’s 50 day moving average is $12.20 and its 200-day moving average is $11.95.
Forestar Group (NYSE:FOR) last issued its earnings results on Friday, July 29th. The oil and gas exploration company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.13. The firm earned $46.40 million during the quarter, compared to analysts’ expectations of $44.80 million. During the same period last year, the business posted $0.06 earnings per share. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts anticipate that Forestar Group Inc. will post $0.56 earnings per share for the current fiscal year.
Forestar Group Inc is a residential and mixed-use real estate development company. The Company operates through three segments: Real Estate, Oil and Gas, and Other Natural Resources. Its Real Estate segment secures entitlements and develops infrastructure on its lands for single-family residential and mixed-use communities, and manages its undeveloped land, commercial and income producing properties, mainly a hotel and its multifamily properties.
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