Zacks: Brokerages Expect Forrester Research, Inc. (NASDAQ:FORR) to Announce $0.60 Earnings Per Share

Equities analysts expect Forrester Research, Inc. (NASDAQ:FORR) to report earnings of $0.60 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Forrester Research’s earnings, with estimates ranging from $0.59 to $0.61. Forrester Research posted earnings of $0.53 per share during the same quarter last year, which would indicate a positive year over year growth rate of 13.2%. The business is scheduled to report its next earnings report on Friday, July 26th.

According to Zacks, analysts expect that Forrester Research will report full year earnings of $1.61 per share for the current year, with EPS estimates ranging from $1.60 to $1.61. For the next year, analysts anticipate that the firm will post earnings of $1.83 per share, with EPS estimates ranging from $1.78 to $1.88. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Forrester Research.

Forrester Research (NASDAQ:FORR) last posted its earnings results on Tuesday, April 30th. The technology company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.03. The firm had revenue of $100.65 million for the quarter, compared to the consensus estimate of $98.00 million. Forrester Research had a return on equity of 2.61% and a net margin of 1.00%.

Several research firms have issued reports on FORR. BidaskClub downgraded Forrester Research from a “hold” rating to a “sell” rating in a research report on Thursday. TheStreet cut shares of Forrester Research from an “a-” rating to a “c+” rating in a report on Monday, June 3rd. Barrington Research reaffirmed a “hold” rating on shares of Forrester Research in a report on Wednesday, May 29th. Maxim Group reaffirmed a “buy” rating and issued a $62.00 price target on shares of Forrester Research in a report on Wednesday, April 24th. Finally, Zacks Investment Research raised shares of Forrester Research from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $56.00.

NASDAQ:FORR opened at $47.03 on Friday. The stock has a market capitalization of $867.09 million, a P/E ratio of 55.99 and a beta of 0.66. The stock’s fifty day moving average is $46.89. Forrester Research has a 1 year low of $36.19 and a 1 year high of $51.75. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.44.

In other news, insider Kelley Hippler sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.03, for a total value of $138,090.00. Following the transaction, the insider now owns 23,253 shares of the company’s stock, valued at $1,070,335.59. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gretchen Teichgraeber sold 1,000 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $45.83, for a total transaction of $45,830.00. Following the completion of the transaction, the director now directly owns 17,701 shares in the company, valued at approximately $811,236.83. The disclosure for this sale can be found here. Corporate insiders own 43.40% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Texas Permanent School Fund increased its stake in Forrester Research by 3.8% in the first quarter. Texas Permanent School Fund now owns 6,945 shares of the technology company’s stock valued at $336,000 after acquiring an additional 252 shares during the last quarter. Comerica Bank increased its stake in Forrester Research by 3.3% in the first quarter. Comerica Bank now owns 10,107 shares of the technology company’s stock valued at $501,000 after acquiring an additional 324 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Forrester Research in the first quarter valued at $26,000. United Services Automobile Association increased its stake in Forrester Research by 0.3% in the fourth quarter. United Services Automobile Association now owns 302,669 shares of the technology company’s stock valued at $13,529,000 after acquiring an additional 820 shares during the last quarter. Finally, MetLife Investment Advisors LLC increased its stake in Forrester Research by 27.8% in the first quarter. MetLife Investment Advisors LLC now owns 4,738 shares of the technology company’s stock valued at $229,000 after acquiring an additional 1,031 shares during the last quarter. 56.09% of the stock is currently owned by institutional investors and hedge funds.

Forrester Research Company Profile

Forrester Research, Inc operates as an independent research, data, and advisory services company. It operates through Research, Product, and Project Consulting segments. Its primary syndicated research product is Research, which offers clients with access to its syndicated research designed to inform their strategic decision-making.

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