Earnings from Forestar Group Inc. [FOR] are scheduled on April 20, 2021, after the market closes. It is expected that the company will report strong earnings for the quarter ending Mar 2021.
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FOR Stock Earnings Outlook For The Current Quarter
The consensus estimates for the quarter suggest that the company would earn $0.41 per share on revenue of $285.24M. Taking a look at the future, the company is projected to report revenue of $299.02M at an earnings per share of $0.46 for the Jun 2021 quarter. The estimates represent year-over-year improvements of 20.00% in revenue and 20.98% in earnings per share for the company.
FOR Stock Earnings Forecast For The Current Year
For the full financial year, Forestar Group Inc. [NYSE:FOR] is forecasted to generate revenue of $1.22B. The figure is about $288.2 million above what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be $1.85 in 2021, which is $0.59 higher than the figure in FY20. Based on current estimates, earnings are expected to grow 46.80% this year, 21.10% next year, and 3.90% annually over the next five years. With regard to sales, forecasts suggest an incline of 31.10% in current fiscal year and 20.00% over following year.
FOR Stock Price Performance
At a recent check today, Forestar Group Inc. [NYSE:FOR] finished down -1.14% at $25.24. The stock’s day high price was $25.67, and its lowest was $25.03. Its price rose 2.94% in the last five days. Since the beginning of the year, Forestar Group Inc.’s shares are up nearly 26.51%. However, the share price is -4.94% below its one year high. The top price reached by the shares of the company was $26.55 on 04/16/21, while the 52-week low came on 01/04/21, when the shares were $20.03. In the past year, shares of the company have risen 102.78%. At 50 days, the moving average achieved is $23.31 while at 200 days, the moving average is $19.94. There were 5661.0 shares traded in the last session, down from 0.15 million in the previous session.
Forestar Group Inc. [NYSE:FOR] Stock Valuation Metrics
With a prevailing 12-month PE ratio of 18.62, Forestar Group Inc. [FOR] does not qualify as a good candidate for the list of underestimated low-priced stocks that should be purchased sooner rather than later. By this measure, the company’s stock is trading at a premium to the industry average of 14.54 times trailing earnings. Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 1.21 PS value ratio is reported for the last one year of reported earnings. This is below the average return 3.04 for the industry, which means FOR offers an attractive investment opportunity than its competitors do.
FOR Share Price Support And Resistance Levels
Based on the daily chart, the immediate backing lies around the 25.24 level, and the violation of this level will cause a further drop to 25.15 level. At the upper end, 26.43 remains a key resistance. As the stock increases, it may find resistance at 26.05. In the 14-day chart, the Relative Strength Index standing at 63.71 suggests a technical neutral stance while the MACD standing at 0.87 indicates price will decrease in the next trading period. Stochastic %K at 73.67% suggests holding the stock while Percent R indicator at 31.00% suggests low price movement.
How much is the short interest in Forestar Group Inc.?
There have been a drop in short interest in the Forestar Group Inc. Financial stock, with short interest down by 29940.0 shares to 0.35 million shares on Feb 25, 2021. According to data provided by Yahoo Finance, the short interest on Mar 30, 2021 stood at 0.32 million shares. This 8.58% increase suggests some bearish sentiment was experienced by the stock. Shorted shares accounted for just 1.81% of the overall float in the stock, while the stock’s days to cover moved to 2.32.
How do analysts view Forestar Group Inc.?
In regard to the share price forecast for Forestar Group Inc. stock, the analysts, as surveyed by FactSet, forecast the price to reach $27.50 in the next twelve months, representing almost an 8.22% growth from its recent price of $25.24. Among Forestar Group Inc. stock projections, $32.00 is the highest analyst target for the stock, while $25.00 is the lowest. Despite this, 6 analysts who share their consensus rating for FOR in 2021 agree that the stock is a Buy.