Forestar Group Inc reports results for the quarter ended in June - Earnings Summary

Forestar

18/07/2024 15:21

* Forestar Group Inc  FOR.N  reported quarterly adjusted
earnings
of 69 cents​​ per share for the quarter ended in June, lower
than the same quarter last year, when the company reported EPS
of 93 cents.  The mean expectation of four analysts for the
quarter was for earnings of 88 cents per share. Wall Street
expected results to range from 80 cents to 96 cents per share.
    * Revenue fell 13.7% to $318.40 million from a year ago;
analysts
expected $379.20 million. 
    * Forestar Group Inc's reported EPS for the quarter was 76
cents​.
    * The company reported quarterly net income of $38.7
million.
    * Forestar Group Inc shares had risen by 12.5% this
quarter and
gained 8.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.8%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is
"strong buy"
and the breakdown of recommendations is 3 "strong buy" or
"buy," 1 "hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the construction
&
engineering peer group is  "buy."

Wall Street's median 12-month price target for Forestar Group
Inc is $41.00 
This summary was machine generated from LSEG data July 18 at
02:21 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.88           0.69           Missed
 Mar. 31 2024      0.72           0.89           Beat
 Dec. 31 2023      0.50           0.76           Beat
 Sep. 30 2023      0.94           1.45           Beat