Astec Industries, Inc. Expected to Post Q1 2018 Earnings of $0.85 Per Share (ASTE)
Astec Industries, Inc. (NASDAQ:ASTE) – Griffin Securities issued their Q1 2018 earnings per share (EPS) estimates for Astec Industries in a report issued on Tuesday. Griffin Securities analyst M. Ajzenman expects that the industrial products company will post earnings per share of $0.85 for the quarter. Griffin Securities also issued estimates for Astec Industries’ Q2 2018 earnings at $0.94 EPS, Q4 2018 earnings at $1.09 EPS and FY2018 earnings at $3.49 EPS.
Astec Industries (NASDAQ:ASTE) last released its earnings results on Tuesday, July 25th. The industrial products company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.80 by $0.18. The firm had revenue of $301.90 million during the quarter, compared to analysts’ expectations of $314.31 million. Astec Industries had a net margin of 4.08% and a return on equity of 7.40%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.79 EPS.
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ASTE has been the topic of a number of other research reports. Dougherty & Co cut Astec Industries from a “buy” rating to a “neutral” rating and set a $85.00 price target on the stock. in a report on Wednesday. BidaskClub cut Astec Industries from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Astec Industries has a consensus rating of “Hold” and an average target price of $72.25.
Astec Industries (NASDAQ:ASTE) traded up 3.66% during trading on Thursday, hitting $51.30. The stock had a trading volume of 99,301 shares. Astec Industries has a 12-month low of $49.58 and a 12-month high of $73.37. The firm has a market cap of $1.18 billion, a P/E ratio of 22.70 and a beta of 1.11. The stock’s 50 day moving average price is $55.69 and its 200 day moving average price is $61.39.
A number of large investors have recently bought and sold shares of ASTE. BlackRock Inc. raised its stake in Astec Industries by 69,549.4% in the first quarter. BlackRock Inc. now owns 2,317,931 shares of the industrial products company’s stock worth $142,543,000 after buying an additional 2,314,603 shares during the last quarter. Vanguard Group Inc. raised its stake in Astec Industries by 6.5% in the first quarter. Vanguard Group Inc. now owns 1,807,106 shares of the industrial products company’s stock worth $111,128,000 after buying an additional 109,609 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Astec Industries by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,503,247 shares of the industrial products company’s stock worth $92,443,000 after buying an additional 16,362 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in Astec Industries by 11.6% in the first quarter. State of New Jersey Common Pension Fund D now owns 1,350,000 shares of the industrial products company’s stock worth $83,018,000 after buying an additional 140,000 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Astec Industries by 9.5% in the first quarter. Principal Financial Group Inc. now owns 485,371 shares of the industrial products company’s stock worth $29,848,000 after buying an additional 42,050 shares during the last quarter. 79.42% of the stock is currently owned by hedge funds and other institutional investors.
About Astec Industries
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.
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