Forrester Research, Inc. (NASDAQ:FORR) to Post Q2 2023 Earnings of $0.43 Per Share, Barrington Research Forecasts

Posted by Defense World Staff on May 19th, 2023

Forrester Research, Inc. (NASDAQ:FORR – Get Rating) – Analysts at Barrington Research cut their Q2 2023 earnings per share estimates for Forrester Research in a research note issued on Monday, May 15th. Barrington Research analyst V. Colicchio now forecasts that the technology company will post earnings of $0.43 per share for the quarter, down from their prior estimate of $0.46. The consensus estimate for Forrester Research’s current full-year earnings is $1.40 per share. Barrington Research also issued estimates for Forrester Research’s Q3 2023 earnings at $0.40 EPS, Q4 2023 earnings at $0.46 EPS, FY2023 earnings at $1.44 EPS and FY2024 earnings at $1.60 EPS.

Separately, StockNews.com initiated coverage on Forrester Research in a research report on Thursday. They issued a “buy” rating for the company.

Forrester Research Price Performance

Shares of NASDAQ FORR opened at $27.19 on Thursday. Forrester Research has a 1-year low of $22.62 and a 1-year high of $52.86. The business has a 50-day moving average of $30.80 and a 200-day moving average of $33.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $522.05 million, a price-to-earnings ratio of 38.84, a PEG ratio of 2.27 and a beta of 0.94.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Captrust Financial Advisors boosted its holdings in Forrester Research by 250.0% in the first quarter. Captrust Financial Advisors now owns 469 shares of the technology company’s stock valued at $26,000 after purchasing an additional 335 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Forrester Research by 120.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 689 shares of the technology company’s stock valued at $25,000 after buying an additional 377 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Forrester Research by 109.4% during the first quarter. Tower Research Capital LLC TRC now owns 760 shares of the technology company’s stock valued at $25,000 after buying an additional 397 shares in the last quarter. FMR LLC raised its stake in Forrester Research by 104.7% during the first quarter. FMR LLC now owns 790 shares of the technology company’s stock valued at $26,000 after buying an additional 404 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in Forrester Research by 846.0% during the first quarter. Lazard Asset Management LLC now owns 946 shares of the technology company’s stock valued at $53,000 after buying an additional 846 shares in the last quarter. Hedge funds and other institutional investors own 54.81% of the company’s stock.

Insider Transactions at Forrester Research

In other news, insider Steven P. Peltzman sold 2,206 shares of the company’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $33.95, for a total value of $74,893.70. Following the completion of the sale, the insider now owns 15,091 shares of the company’s stock, valued at $512,339.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Anthony J. Friscia sold 1,850 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $25.54, for a total value of $47,249.00. Following the completion of the transaction, the director now owns 15,065 shares of the company’s stock, valued at $384,760.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven P. Peltzman sold 2,206 shares of the stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $33.95, for a total value of $74,893.70. Following the completion of the transaction, the insider now directly owns 15,091 shares of the company’s stock, valued at approximately $512,339.45. The disclosure for this sale can be found here. Company insiders own 39.50% of the company’s stock.

About Forrester Research

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Forrester Research, Inc engages in the provision of advisory services. It operates through the following business segments: Research, Consulting, and Events. The Research segment includes the revenues of the research, connect, and analytics products. The Consulting segment consists of project consulting organization.