Forrester Research, Inc. (NASDAQ:FORR) – Analysts at Barrington Research reduced their FY2019 earnings estimates for shares of Forrester Research in a research note issued to investors on Tuesday, October 29th, according to Zacks Investment Research. Barrington Research analyst V. Colicchio now forecasts that the technology company will earn ($0.70) per share for the year, down from their prior estimate of ($0.57). Barrington Research has a “Hold” rating on the stock. Barrington Research also issued estimates for Forrester Research’s Q4 2019 earnings at $0.08 EPS and FY2020 earnings at $0.16 EPS.
Forrester Research (NASDAQ:FORR) last announced its quarterly earnings data on Thursday, October 24th. The technology company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.05. The firm had revenue of $108.60 million during the quarter, compared to analysts’ expectations of $107.21 million. Forrester Research had a negative net margin of 2.08% and a negative return on equity of 6.12%.
Several other research firms have also recently weighed in on FORR. Zacks Investment Research cut shares of Forrester Research from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. ValuEngine raised shares of Forrester Research from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Maxim Group reaffirmed a “buy” rating and set a $59.00 target price (down from $62.00) on shares of Forrester Research in a research note on Thursday, August 1st. Sidoti initiated coverage on shares of Forrester Research in a research note on Wednesday, August 28th. They set a “buy” rating and a $55.00 target price for the company. Finally, BidaskClub upgraded shares of Forrester Research from a “sell” rating to a “hold” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $51.00.
FORR opened at $36.17 on Friday. The stock has a market capitalization of $671.58 million, a price-to-earnings ratio of 43.06 and a beta of 0.72. The company has a fifty day moving average of $33.96 and a 200 day moving average of $41.38. Forrester Research has a fifty-two week low of $30.76 and a fifty-two week high of $51.75. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 0.64.
In other Forrester Research news, Director Neil Bradford acquired 3,040 shares of the stock in a transaction on Tuesday, August 20th. The stock was acquired at an average price of $32.63 per share, for a total transaction of $99,195.20. Following the completion of the transaction, the director now directly owns 8,809 shares of the company’s stock, valued at $287,437.67. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 43.40% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Forrester Research by 303.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 848 shares of the technology company’s stock worth $27,000 after acquiring an additional 638 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Forrester Research by 504.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,730 shares of the technology company’s stock valued at $56,000 after purchasing an additional 1,444 shares during the period. Bank of Montreal Can increased its position in Forrester Research by 97.1% during the 2nd quarter. Bank of Montreal Can now owns 1,798 shares of the technology company’s stock valued at $86,000 after purchasing an additional 886 shares during the period. SG Americas Securities LLC purchased a new position in Forrester Research during the 3rd quarter valued at about $149,000. Finally, Stone Ridge Asset Management LLC purchased a new position in Forrester Research during the 2nd quarter valued at about $224,000. Institutional investors and hedge funds own 53.93% of the company’s stock.
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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