Forestar Group Inc. [NYSE:FOR] will report earnings after markets close on Thursday, January 21st.
FOR Earnings Forecast For The Current Quarter
Forestar Group Inc. [FOR] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $261.51M and an earnings per share of $0.37 for Dec 2020. Looking further ahead, the company is expected to report revenue of $275.3M at an EPS of $0.43 for Mar 2021. The estimates represent upside of 18.00% and 17.22% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
FOR Earnings Estimates For The Current Year
For the financial year, Forestar Group Inc. [NYSE:FOR] is expected to bring in revenue of $1.13B. The returns are nearly $198.2 million higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 1.68, higher than that of FY20 by $0.42. Estimates put this year’s earnings growth at 33.30%, 17.30% for the next, and at an annual 3.90% over the next 5-year period. As for sales, forecasts are for an increase of 21.20% in the current fiscal year and a further 18.00% over the following year.
FOR Price Performance
On Wall Street, Forestar Group Inc. [NYSE:FOR] finished Tuesday’s session up 0.18% at $21.94. The stock went up to $22.3739 at the same session while its lowest single day price was $21.55. In the last five days, it saw a rise of about 2.72%, Forestar Group Inc. shares gained by almost 8.72% since the beginning of the year. However, the share price has dropped to as low as -5.06% below its one year high. On 01/19/21, the company shares recorded $22.37, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $20.03. The company’s shares have declined by -1.13% in the past year. The 50-day SMA achieved is $20.03 while the 200-day SMA is $17.05. Volume gained to 81186.0 from 78600.0 in the previous session.
Forestar Group Inc. [FOR] Valuation Measures
Notably, Forestar Group Inc. [FOR] stock cannot be classified as a good candidate in the listing of underestimated low-priced Real Estate – Development companies to purchase soonest possible with the prevailing 12-month PE ratio of 17.33. The measure means the stock is exchanging at a premium as compared to the 14.15x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 1.14 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 3.00 which means FOR serve an unattractive investment opportunity compared to its competitors.
FOR Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 21.94 level, and in case of violation of this particular level, it will cause more drop to 21.54 level. On the upper level, 23.18 is still the key resistance. The stock may increase to the subsequent resistance at 22.78. The Relative Strength Index (RSI) pinned on the 14-day chart is 67.88, implying a neutral technical stance while the MACD stands at 0.83, meaning price will decrease in the next trading period. Percent R indicator moved to 18.51%, implying bullish price movement. Stochastic %K at 82.57% suggest selling the stock.
Is Forestar Group Inc. [NYSE:FOR] a Good Buy Right Now?
It should be noted that FOR technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 88% Buy in the past month. Data from Forestar Group Inc.’s Trend Spotter indicated that the signals were Weakest. The stock current average is 93790.0 shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 88516.0 shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 89073.0 shares.
What is the short interest in Forestar Group Inc.?
Short interest in the Forestar Group Inc. stock has plunged, decreasing by 26270.0 shares to total 0.48 million shares on Dec 30, 2020. The interest had seen shares on Nov 29, 2020 stand at 0.45 million, data from Yahoo Finance shows. The increase of 5.5% suggests the stock saw some increased bearish sentiment. The stock’s days to cover moved to short ratio while the shorted shares account for just 2.89% of the overall float for the stock.
Forestar Group Inc.’s Biggest Shareholders: Who Owns Forestar Group Inc. [FOR]?
Filings by Long Pond Capital LP showed that the firm now holds a total of 4,681,873 shares or roughly 9.74% of the outstanding FOR shares. This means their shares have reduced by 0 from the 4,681,873 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $44,822,040. Details in the latest 13F filings reveal that BlackRock Fund Advisors acquired their 1.02% stake valued at $21,720,804 while UBS Securities LLC added theirs at $18,379,096. During the last quarter, BlackRock Fund Advisors raised 10,851 of its shares in Forestar Group Inc. while UBS Securities LLC bought 14,166 shares. The Dimensional Fund Advisors LP’s holdings currently number 570,085 shares at $12507664.9. According to the firm’s last 13F report, Carlson Capital LP shares in the company at filing stood at 550,444 shares, roughly $11,107,960.
What are analyst thoughts on Forestar Group Inc.?
Looking forward to the Forestar Group Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Forestar Group Inc. stock at $25.00 within the next 12 months, which represents almost 12.24 per cent growth from its previous closing price of $21.94. The highest analysts’ target for Forestar Group Inc. stock projections is $26.00 and the lowest one is $21.00. Still, 4 analysts sharing their consensus rating for FOR stock in 2021 agree that it is an Overweight.