Forrester Research (FORR) Announces Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Forrester Research (NASDAQ:FORR) announced its earnings results on Wednesday, February 7th. The technology company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.03), Briefing.com reports. Forrester Research had a net margin of 4.48% and a return on equity of 11.47%. The firm had revenue of $90.38 million for the quarter, compared to the consensus estimate of $84.85 million. During the same period in the prior year, the business earned $0.38 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. Forrester Research updated its Q1 guidance to ~$0.03-0.07 EPS and its FY18 guidance to ~$1.38-1.45 EPS.

Shares of Forrester Research (NASDAQ:FORR) traded up $0.85 during midday trading on Friday, hitting $41.45. The stock had a trading volume of 39,500 shares, compared to its average volume of 42,635. Forrester Research has a twelve month low of $36.06 and a twelve month high of $47.75. The stock has a market capitalization of $729.78, a P/E ratio of 49.94, a price-to-earnings-growth ratio of 3.19 and a beta of 0.39.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.93%. This is an increase from Forrester Research’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, March 6th. Forrester Research’s dividend payout ratio is currently 91.57%.

In other news, CFO Michael A. Doyle sold 10,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $46.09, for a total transaction of $460,900.00. Following the completion of the sale, the chief financial officer now directly owns 31,562 shares of the company’s stock, valued at $1,454,692.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director George Hornig sold 11,530 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $46.62, for a total value of $537,528.60. Following the sale, the director now directly owns 18,921 shares of the company’s stock, valued at $882,097.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,455 shares of company stock valued at $1,085,922. 44.30% of the stock is currently owned by company insiders.

Several brokerages recently weighed in on FORR. Zacks Investment Research raised Forrester Research from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Monday, October 30th. BidaskClub downgraded Forrester Research from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 12th.

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About Forrester Research

Forrester Research, Inc (Forrester) is an independent research, data, and advisory services firm. The Company offers research, data, advisory and related services that are thematic, prescriptive and executable, and that provide a perspective on the changing business environment. Its segments include Research, Product and Project Consulting.

Earnings History for Forrester Research (NASDAQ:FORR)

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