Is (FOR) Outperforming Other Finance Stocks This Year?
Forestar Group (FOR) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.
If you own shares in Forestar Group Inc. (NYSE:FOR) then it's worth thinking about how it contributes to the...
Forestar Group (FOR) delivered earnings and revenue surprises of 133.33% and 45.84%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Previously owned home rose 3.6% in December boosted by low interest rates that pushed sales of both multi-family and single-family homes.
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Moody's Investors Service (Moody's) upgraded D.R. Horton, Inc.'s (Horton) senior unsecured note ratings to Baa2 from Baa3. The ratings upgrade reflects the strength of Horton's credit profile and its operating strategy, track record of solid execution, and Moody's belief that the company will be able to maintain a strong balance sheet during both the favorable market conditions and industry weakness. Supportive factors also include Horton's leading market position in the country, which allows for significant purchasing efficiencies and land acquisition opportunities, and a majority of revenue from the sale of entry level homes, the growth of which Moody's expects to exceed that of other product.
Forestar announced that James D. Allen has been named Chief Financial Officer of Forestar, effective today.
Forestar announced that the Company will release financial results for its second quarter ended March 31, 2020 on Thursday, April 23, 2020.
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Q2 2020 Forestar Group Inc Earnings Call
Another Milestone After Another Trade Deal
Forestar announced that the Company will present virtually to the investment community via webcast on May 19, 2020 at 2:15 p.m. ET.
Forestar today reported select preliminary results for its second quarter and six months ended March 31, 2020.
Moody's Investors Service ("Moody's") assigned a B2 rating to Forestar Group Inc.'s (Forestar) proposed $300 million senior unsecured notes due 2028. Pro forma for the proposed offering and the repayment of the convertible notes at maturity, Forestar's total debt to capitalization will stand at approximately 44% from 36% at December 31, 2019. "With the proposed $300 million offering, the redemption of the convertible notes and $373 million in cash on hand at December 31, 2019, Forestar will have significant financial flexibility and no debt maturities until April 2024 at the expense of lower interest coverage and higher leverage," said Emile El Nems, a Moody's VP-Senior Analyst.
Q1 2020 Forestar Group Inc Earnings Call
Forestar today reported that net income attributable to Forestar for the second quarter of fiscal 2020 was $9.6 million or $0.20 per diluted share.
Moody's Investors Service (Moody's) assigned a Baa2 rating to D.R. Horton, Inc.'s (Horton) proposed $500 million senior unsecured notes due 2025. All other ratings of Horton remain unchanged. The proceeds of the note offering will be used for general corporate purposes, including the repayment of borrowings under the company's revolving credit facility.
Forestar Group (FOR) delivered earnings and revenue surprises of 42.86% and 0.00%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?