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Equities research analysts expect Astec Industries, Inc. (NASDAQ:ASTE - Get Rating) to post earnings of $0.50 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Astec Industries' earnings, with estimates ranging from $0.49 to $0.51. Astec Industries reported earnings per share of $0.49 in the same quarter last year, which would suggest a positive year-over-year growth rate of 2%. The firm is scheduled to issue its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Astec Industries will report full year earnings of $1.84 per share for the current financial year, with EPS estimates ranging from $1.68 to $2.00. For the next year, analysts expect that the business will report earnings of $2.67 per share, with EPS estimates ranging from $2.50 to $2.83. Zacks Investment Research's EPS calculations are a mean average based on a survey of analysts that follow Astec Industries.
Astec Industries (NASDAQ:ASTE - Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.30. The firm had revenue of $291.20 million for the quarter, compared to the consensus estimate of $286.56 million. Astec Industries had a net margin of 1.20% and a return on equity of 4.74%. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 EPS.
A number of equities analysts have issued reports on ASTE shares. Robert W. Baird downgraded shares of Astec Industries from an "outperform" rating to a "neutral" rating and set a $40.00 price objective on the stock. in a report on Friday, April 8th. Zacks Investment Research downgraded shares of Astec Industries from a "hold" rating to a "strong sell" rating and set a $47.00 price target on the stock. in a report on Friday, February 18th. Finally, StockNews.com downgraded shares of Astec Industries from a "buy" rating to a "hold" rating in a report on Friday.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank lifted its holdings in Astec Industries by 0.8% during the third quarter. Swiss National Bank now owns 47,700 shares of the industrial products company's stock valued at $2,567,000 after purchasing an additional 400 shares during the last quarter. Centerpoint Advisors LLC purchased a new stake in Astec Industries during the fourth quarter valued at about $30,000. Point72 Hong Kong Ltd purchased a new stake in Astec Industries during the third quarter valued at about $27,000. Byrne Asset Management LLC increased its position in shares of Astec Industries by 96.1% during the first quarter. Byrne Asset Management LLC now owns 1,047 shares of the industrial products company's stock valued at $45,000 after buying an additional 513 shares during the period. Finally, IndexIQ Advisors LLC increased its position in shares of Astec Industries by 11.1% during the third quarter. IndexIQ Advisors LLC now owns 5,961 shares of the industrial products company's stock valued at $321,000 after buying an additional 597 shares during the period. 94.52% of the stock is currently owned by institutional investors and hedge funds.
ASTE opened at $41.96 on Friday. The company has a market capitalization of $958.45 million, a price-to-earnings ratio of 72.35 and a beta of 1.30. The firm's fifty day moving average price is $41.75 and its two-hundred day moving average price is $56.07. Astec Industries has a 1 year low of $36.31 and a 1 year high of $75.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 27th. Shareholders of record on Friday, May 13th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, May 12th. Astec Industries's dividend payout ratio (DPR) is presently 82.76%.
Astec Industries Company Profile (Get Rating)
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities in the United States and internationally. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as engineering and environmental permitting services.
Further ReadingGet a free copy of the StockNews.com research report on Astec Industries (ASTE)The Travel Sector Is Getting Upgraded Carvana Insiders Buy Shares But Maybe You Shouldn’t Dutch Bros Gets Scalded By Inflation The S&P 500 Could Fall Another 28%Corning Stock is a Technology Value Play
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