Forrester Research (NASDAQ:FORR) Posts Earnings Results, Beats Expectations By $0.04 EPS

Forrester Research (NASDAQ:FORR) announced its earnings results on Wednesday. The technology company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.04, Morningstar.com reports. Forrester Research had a negative return on equity of 1.65% and a negative net margin of 0.59%. The company had revenue of $128.18 million during the quarter, compared to analyst estimates of $126.76 million. Forrester Research updated its Q3 2019 guidance to $0.27-0.31 EPS and its FY 2019 guidance to $1.52-1.62 EPS.

FORR stock traded down $2.23 during midday trading on Friday, reaching $40.17. The stock had a trading volume of 59,551 shares, compared to its average volume of 53,418. The business’s fifty day moving average price is $47.52. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $872.62 million, a price-to-earnings ratio of 47.82 and a beta of 0.66. Forrester Research has a twelve month low of $36.19 and a twelve month high of $51.75.

A number of analysts have recently weighed in on the company. Zacks Investment Research upgraded Forrester Research from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Thursday. Barrington Research restated a “hold” rating on shares of Forrester Research in a research note on Wednesday, May 29th. Maxim Group restated a “buy” rating and issued a $59.00 target price (down from $62.00) on shares of Forrester Research in a research note on Thursday. TheStreet lowered Forrester Research from an “a-” rating to a “c+” rating in a research report on Monday, June 3rd. Finally, BidaskClub upgraded Forrester Research from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $56.00.

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

Several institutional investors have recently bought and sold shares of FORR. BlackRock Inc. grew its position in shares of Forrester Research by 0.9% during the 4th quarter. BlackRock Inc. now owns 1,499,011 shares of the technology company’s stock worth $67,005,000 after buying an additional 13,286 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Forrester Research by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 777,645 shares of the technology company’s stock worth $34,761,000 after buying an additional 2,723 shares during the period. Geode Capital Management LLC grew its position in shares of Forrester Research by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 137,374 shares of the technology company’s stock worth $6,140,000 after buying an additional 8,188 shares during the period. Principal Financial Group Inc. grew its position in shares of Forrester Research by 1.3% during the 4th quarter. Principal Financial Group Inc. now owns 86,601 shares of the technology company’s stock worth $3,871,000 after buying an additional 1,070 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Forrester Research by 319.4% during the 4th quarter. Bank of America Corp DE now owns 9,089 shares of the technology company’s stock worth $406,000 after buying an additional 6,922 shares during the period. Institutional investors own 56.12% 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.

Further Reading: Rule of 72

Earnings History for Forrester Research (NASDAQ:FORR)

Receive News & Ratings for Forrester Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forrester Research and related companies with MarketBeat.com's FREE daily email newsletter.