Astec Industries, Inc. to Post Q3 2017 Earnings of ($0.14) Per Share, Seaport Global Securities Forecasts (ASTE)
Astec Industries, Inc. (NASDAQ:ASTE) – Stock analysts at Seaport Global Securities lowered their Q3 2017 earnings estimates for shares of Astec Industries in a report issued on Monday. Seaport Global Securities analyst M. Shlisky now anticipates that the industrial products company will post earnings per share of ($0.14) for the quarter, down from their prior forecast of $0.43. Seaport Global Securities also issued estimates for Astec Industries’ Q4 2017 earnings at $0.93 EPS, FY2017 earnings at $2.07 EPS and Q1 2018 earnings at $0.88 EPS.
Several other research analysts also recently commented on ASTE. Zacks Investment Research raised Astec Industries from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Dougherty & Co lowered Astec Industries from a “buy” rating to a “neutral” rating and set a $85.00 target price for the company. in a research note on Wednesday, July 26th. Robert W. Baird raised Astec Industries from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $56.00 to $65.00 in a report on Tuesday. Finally, BidaskClub downgraded shares of Astec Industries from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Astec Industries has a consensus rating of “Hold” and a consensus price target of $75.00.
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Astec Industries (NASDAQ ASTE) opened at 54.83 on Wednesday. The company’s 50-day moving average price is $50.24 and its 200-day moving average price is $55.34. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 26.10 and a beta of 1.11. Astec Industries has a 52-week low of $45.70 and a 52-week high of $73.37.
Astec Industries (NASDAQ:ASTE) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.18). The company had revenue of $301.90 million for the quarter, compared to the consensus estimate of $314.31 million. Astec Industries had a net margin of 4.08% and a return on equity of 7.40%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the company posted $0.79 earnings per share.
A number of large investors have recently modified their holdings of the business. BlackRock Inc. grew 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 valued at $142,543,000 after acquiring an additional 2,314,603 shares during the period. Alliancebernstein L.P. raised its holdings in Astec Industries by 25.9% during the 2nd quarter. Alliancebernstein L.P. now owns 590,307 shares of the industrial products company’s stock worth $32,768,000 after buying an additional 121,309 shares during the period. Vanguard Group Inc. raised its holdings in Astec Industries by 6.5% during the 1st 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 period. Dimensional Fund Advisors LP raised its holdings in Astec Industries by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,591,790 shares of the industrial products company’s stock worth $88,360,000 after buying an additional 88,543 shares during the period. Finally, Royce & Associates LP raised its holdings in Astec Industries by 51.4% during the 2nd quarter. Royce & Associates LP now owns 246,163 shares of the industrial products company’s stock worth $13,665,000 after buying an additional 83,601 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.
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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