Research Analysts Offer Predictions for Astec Industries, Inc.’s Q3 2017 Earnings (ASTE)
Astec Industries, Inc. (NASDAQ:ASTE) – Stock analysts at Dougherty & Co issued their Q3 2017 earnings estimates for shares of Astec Industries in a research report issued to clients and investors on Thursday. Dougherty & Co analyst J. Fisher forecasts that the industrial products company will post earnings of $0.37 per share for the quarter. Dougherty & Co has a “Neutral” rating and a $85.00 price objective on the stock. Dougherty & Co also issued estimates for Astec Industries’ FY2017 earnings at $2.48 EPS and FY2018 earnings at $3.41 EPS.
Separately, BidaskClub cut Astec Industries from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st.
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Astec Industries (ASTE) opened at 46.52 on Monday. Astec Industries has a one year low of $45.70 and a one year high of $73.37. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 22.14 and a beta of 1.09. The stock’s 50 day moving average price is $51.47 and its 200-day moving average price is $59.05.
Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by $0.18. Astec Industries had a return on equity of 7.40% and a net margin of 4.08%. The business had revenue of $301.90 million for the quarter, compared to analyst estimates of $314.31 million. During the same quarter last year, the firm earned $0.79 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year.
Institutional investors have recently made changes to their positions in the stock. FMR LLC bought a new position in shares of Astec Industries during the fourth quarter valued at $351,000. Renaissance Technologies LLC bought a new position in shares of Astec Industries during the fourth quarter valued at $1,393,000. Teachers Advisors LLC boosted its position in shares of Astec Industries by 3.2% in the fourth quarter. Teachers Advisors LLC now owns 31,834 shares of the industrial products company’s stock valued at $2,148,000 after buying an additional 985 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Astec Industries by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 7,800 shares of the industrial products company’s stock valued at $480,000 after buying an additional 100 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Astec Industries by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,110 shares of the industrial products company’s stock valued at $129,000 after buying an additional 40 shares in the last quarter. 79.01% of the stock is owned by hedge funds and other institutional investors.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Shareholders of record on Friday, August 11th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $0.40 annualized dividend and a yield of 0.86%. Astec Industries’s dividend payout ratio is presently 19.05%.
Astec Industries Company Profile
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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