Why Forestar Group Stock Is Down Today
Earnings fall short as the housing market slows. Wall Street is taking note, sending Forestar shares down 15% as of 11:15 a.m. ET. Forestar earned 318.4 million in its fiscal third quarter ending June 30, shy of the 380 million that analysts had expected. The company sold 3,255 lots in the quarter, including 352 sold to customers other than D.R. Horton. That total was down 15% year over year. Is Forestar a buy? The company has a contrac ...