BUZZ-Forestar shares tumble 6%; Q1 EPS misses Street

Reuters01-20
BUZZ-Forestar shares tumble 6%; Q1 EPS misses Street

** Shares in residential lot development co Forestar Group Inc FOR.N, which is majority owned by homebuilder DR Horton DHI.N, down 5.7% at $25.83 on Tuesday after fiscal Q1 report with EPS missing Street estimates, while revenue beat

** FOR, which buys land to sell single-family lots to homebuilders, reported Q1 EPS of $0.30 vs Street expectation for $0.32 on rev of $273 mln, which was above consensus expectation for $260.97 mln

** In Q1 co said lots sold decreased 17% to 1,944 lots from 2,333 in Q1 fiscal 2025, including 317 lots sold to customers other than D.R. Horton

** FOR reaffirmed previous fiscal 2026 guidance to deliver between 14,000 and 15,000 lots, generating $1.6 billion to $1.7 billion of revenue

** Median PT for FOR is $34.50 as per LSEG, which shows just four analyst ratings: 2 'strong buy,' 1 'buy' and 1 'hold'

** YTD shares in FOR still up 4.9% after ~5% drop in 2025

(Reporting by Sinead Carew)

((sinead.carew@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment