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
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