Astec Industries, Inc. (ASTE) Forecasted to Earn Q3 2017 Earnings of $0.37 Per Share
Astec Industries, Inc. (NASDAQ:ASTE) – Equities research analysts at Dougherty & Co issued their Q3 2017 EPS estimates for Astec Industries in a note issued to investors on Thursday. Dougherty & Co analyst J. Fisher expects 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 target 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 lowered shares of Astec Industries from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 21st.
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Shares of Astec Industries (ASTE) opened at 46.47 on Monday. The firm’s 50-day moving average price is $51.21 and its 200 day moving average price is $58.71. The stock has a market capitalization of $1.07 billion, a P/E ratio of 22.12 and a beta of 1.09. Astec Industries has a 52 week low of $45.70 and a 52 week high of $73.37.
Astec Industries (NASDAQ:ASTE) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.80 by $0.18. Astec Industries had a net margin of 4.08% and a return on equity of 7.40%. The business had revenue of $301.90 million for the quarter, compared to analysts’ expectations of $314.31 million. During the same quarter in the prior year, the business posted $0.79 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue raised its position in 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 worth $129,000 after buying an additional 40 shares in the last quarter. Louisiana State Employees Retirement System raised its position in 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 worth $480,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System raised its position in Astec Industries by 1.0% in the first quarter. Arizona State Retirement System now owns 9,966 shares of the industrial products company’s stock worth $613,000 after buying an additional 100 shares in the last quarter. Texas Permanent School Fund raised its position in Astec Industries by 0.9% in the second quarter. Texas Permanent School Fund now owns 13,974 shares of the industrial products company’s stock worth $776,000 after buying an additional 125 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in Astec Industries by 2.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 5,670 shares of the industrial products company’s stock worth $315,000 after buying an additional 140 shares in the last quarter. Institutional investors own 79.01% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Shareholders of record on Friday, August 11th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.40 dividend on an annualized basis 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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