Forestar Group Inc. (FOR) Shares Down 4.1%
Forestar Group Inc. (NYSE:FOR) was down 4.1% during trading on Thursday . The company traded as low as $11.84 and last traded at $11.86, with a volume of 173,610 shares. The stock had previously closed at $12.37.
Separately, Zacks Investment Research cut Forestar Group from a “hold” rating to a “strong sell” rating in a research note on Monday, May 16th.
The company’s market cap is $407.15 million. The company has a 50 day moving average price of $12.20 and a 200-day moving average price of $11.42.
Forestar Group (NYSE:FOR) last announced its earnings results on Tuesday, May 10th. The oil and gas exploration company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.16. The firm earned $41.90 million during the quarter, compared to analysts’ expectations of $54.94 million. Forestar Group’s revenue was down 12.3% on a year-over-year basis. Equities analysts anticipate that Forestar Group Inc. will post $0.48 EPS for the current year.
Several large investors have modified their holdings of FOR. Dimensional Fund Advisors LP raised its stake in shares of Forestar Group by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,752,009 shares of the oil and gas exploration company’s stock worth $19,167,000 after buying an additional 23,521 shares in the last quarter. I.G. Investment Management LTD. raised its stake in shares of Forestar Group by 3.2% in the fourth quarter. I.G. Investment Management LTD. now owns 94,014 shares of the oil and gas exploration company’s stock worth $1,029,000 after buying an additional 2,881 shares in the last quarter. Finally, Royce & Associates LLC raised its stake in shares of Forestar Group by 12.9% in the fourth quarter. Royce & Associates LLC now owns 175,000 shares of the oil and gas exploration company’s stock worth $1,915,000 after buying an additional 20,000 shares in the last quarter.
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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