Wall Street brokerages expect that Astec Industries, Inc. (NASDAQ:ASTE) will announce earnings of $0.93 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Astec Industries’ earnings. The highest EPS estimate is $0.96 and the lowest is $0.89. Astec Industries posted earnings of $0.62 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 50%. The business is expected to announce its next earnings report on Tuesday, July 24th.
On average, analysts expect that Astec Industries will report full year earnings of $3.39 per share for the current financial year, with EPS estimates ranging from $3.15 to $3.52. For the next year, analysts forecast that the business will report earnings of $3.93 per share, with EPS estimates ranging from $3.75 to $4.10. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Astec Industries.
Astec Industries (NASDAQ:ASTE) last posted its earnings results on Tuesday, April 24th. The industrial products company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.01. Astec Industries had a return on equity of 6.09% and a net margin of 3.60%. The firm had revenue of $325.50 million during the quarter, compared to analysts’ expectations of $336.32 million. During the same quarter in the previous year, the business earned $0.65 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year.
A number of research firms recently weighed in on ASTE. Stifel Nicolaus decreased their price target on Astec Industries from $67.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, April 25th. BidaskClub upgraded Astec Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. ValuEngine downgraded Astec Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, Robert W. Baird reiterated a “buy” rating and set a $64.00 target price on shares of Astec Industries in a research report on Friday, April 13th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Astec Industries currently has an average rating of “Buy” and a consensus target price of $67.25.
Shares of Astec Industries traded up $0.54, reaching $59.80, during trading on Tuesday, Marketbeat Ratings reports. The company’s stock had a trading volume of 82,700 shares, compared to its average volume of 137,270. Astec Industries has a 12-month low of $45.70 and a 12-month high of $64.80. The company has a market cap of $1.40 billion, a PE ratio of 37.85, a price-to-earnings-growth ratio of 1.79 and a beta of 1.14.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 30th. Shareholders of record on Monday, May 14th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, May 11th. This represents a $0.40 dividend on an annualized basis and a yield of 0.67%. Astec Industries’s payout ratio is 25.32%.
In other Astec Industries news, CEO Benjamin G. Brock sold 22,439 shares of the business’s stock in a transaction on Friday, May 4th. The stock was sold at an average price of $54.71, for a total transaction of $1,227,637.69. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of ASTE. Dynamic Technology Lab Private Ltd purchased a new stake in Astec Industries during the first quarter worth $219,000. Xact Kapitalforvaltning AB acquired a new position in shares of Astec Industries in the 1st quarter worth approximately $257,000. Global X Management Co. LLC boosted its holdings in shares of Astec Industries by 316.7% in the 1st quarter. Global X Management Co. LLC now owns 4,667 shares of the industrial products company’s stock worth $258,000 after acquiring an additional 3,547 shares in the last quarter. Blair William & Co. IL acquired a new position in shares of Astec Industries in the 1st quarter worth approximately $260,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Astec Industries in the 1st quarter worth approximately $304,000. Institutional investors own 91.10% of the company’s stock.
Astec Industries Company Profile
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company operates through Infrastructure Group, Aggregate and Mining Group, and Energy Group segments.
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