Forestar Group Inc. Announces Pricing Terms of Tender Offer for Any and All of its 3.850% Senior Notes due 2026
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 11 2025
0mins
Should l Buy FOR?
Source: Businesswire
Tender Offer Announcement: Forestar Group Inc. has announced a cash tender offer to purchase its outstanding 3.850% Senior Notes due 2026, with a purchase price of $999.46 per $1,000 principal amount, set to expire on March 11, 2025.
Conditions and Future Plans: The tender offer is contingent upon certain conditions, including successful debt financing, and Forestar may also engage in future purchases of the notes or redeem them under specified terms.
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Analyst Views on FOR
Wall Street analysts forecast FOR stock price to rise
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 29.730
Low
26.00
Averages
32.00
High
38.00
Current: 29.730
Low
26.00
Averages
32.00
High
38.00
About FOR
Forestar Group Inc. is a residential lot development company, which is focused on making investments in land acquisition and development to sell finished single-family residential lots to homebuilders. It manages its operations through its real estate segment. Its real estate segment conducts a wide range of project planning and management activities related to the entitlement, acquisition, community development and sale of residential lots. It primarily invests in entitled short-duration projects that can be developed in phases, enables to complete and sell lots at a pace that matches market demand. The Company has diversified its lot development operations across 62 markets in 24 states. Its customers are primarily local, regional and national homebuilders.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Net Income Decline: Net income fell to $15.4 million, with diluted earnings per share at $0.3, down from $16.5 million and $0.32 in the prior year, reflecting cost pressures and changing market conditions.
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- Contracted Backlog: Forestar Group maintains a contracted backlog with visibility towards $2.2 billion in future revenue, demonstrating its competitive position and growth potential despite fluctuations in market demand.
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- Impressive Sales Figures: The company sold 1,944 lots during the quarter, further solidifying its market position, while owning and controlling a total of 101,000 lots, laying a solid foundation for future growth.
- Future Revenue Potential: Forestar has 24,100 lots contracted for sale, representing an anticipated future revenue of $2.2 billion, which will provide substantial cash flow support for the company.
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- Revenue Growth: The company reported a 9% increase in revenue to $273 million, up from $250.4 million last year, demonstrating strong sales performance despite the profit decline.
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- Net Income Decline: Net income fell to $15.4 million, with diluted earnings per share at $0.3, down from $16.5 million and $0.32 in the prior year, reflecting cost pressures and changing market conditions.
- Strong Liquidity: The company ended the quarter with $820 million in liquidity, including $212 million in unrestricted cash and $608 million available on its revolving credit facility, showcasing robust financial health to support future investments and operations.
- Contracted Backlog: Forestar Group maintains a contracted backlog with visibility towards $2.2 billion in future revenue, demonstrating its competitive position and growth potential despite fluctuations in market demand.
See More
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- Strong Revenue Performance: Forestar Group reported Q1 revenue of $273 million, marking a 9% year-over-year increase that exceeded market expectations by $7.52 million, indicating robust demand and competitive strength in land development.
- Impressive Sales Figures: The company sold 1,944 lots during the quarter, further solidifying its market position, while owning and controlling a total of 101,000 lots, laying a solid foundation for future growth.
- Future Revenue Potential: Forestar has 24,100 lots contracted for sale, representing an anticipated future revenue of $2.2 billion, which will provide substantial cash flow support for the company.
- Increase in Book Value: The book value per share rose by 10% to $35.10, reflecting asset appreciation and improved financial health, thereby boosting investor confidence.
See More
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- Revenue Growth: The company reported a 9% increase in revenue to $273 million, up from $250.4 million last year, demonstrating strong sales performance despite the profit decline.
- Future Outlook: Chairman Donald J. Tomnitz stated that for fiscal 2026, the company expects to deliver between 14,000 and 15,000 lots, generating projected revenues of $1.6 billion to $1.7 billion, reflecting confidence in future growth.
- Stock Price Reaction: Forestar's stock rose by 0.36% to $27.50 in pre-market trading on the New York Stock Exchange, indicating a positive market response to the company's performance.
See More
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- Market Sentiment: Investors are adopting a cautious stance ahead of these earnings announcements, particularly given the backdrop of increasing economic uncertainty, which could lead to heightened market volatility.
- Sector Impact: The earnings results from these companies will provide critical performance benchmarks for their respective industries, especially in manufacturing and financial services, potentially influencing investor confidence.
- Earnings Season Schedule: Additionally, other firms such as Fifth Third Bank (FITB) and Ford (FOR) are also slated to report at the same time, further enriching the dynamics of the ongoing earnings season.
See More
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- Revenue Expectations: The anticipated revenue for Q1 is $265.48 million, representing a 6.0% year-over-year increase, indicating the company's sustained growth potential in land development despite market challenges.
- Historical Performance: Over the past two years, Forestar has beaten EPS and revenue estimates 75% of the time, demonstrating financial stability and market adaptability, which could enhance investor trust.
- Estimate Revisions: In the last three months, both EPS and revenue estimates have seen one upward revision, reflecting analysts' cautious optimism regarding the company's future performance, potentially influencing short-term market reactions.
See More
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- Information Integration and Support: The platform not only offers in-depth analysis of price movements, economic sentiment, and technical trends but also includes a calendar for upcoming financial events and special reports on high-impact instruments, enhancing users' knowledge and confidence.
- Combining Technology and Service: As a multi-regulated broker, Fortrade is committed to strengthening its position as a provider of online trading solutions through reliable technology and a secure trading environment, ensuring a consistent trading experience for both beginners and experienced traders.
- Customer Safety Priority: Fortrade's CEO Chris Warburton emphasizes that the Market Analysis section is part of their mission to help clients feel secure in their trading, while also integrating their trading platforms and customer service to enhance the overall user experience.
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