Brokerages Anticipate Astec Industries, Inc. (NASDAQ:ASTE) to Post $0.49 EPS

Analysts expect Astec Industries, Inc. (NASDAQ:ASTE) to announce earnings of $0.49 per share for the current quarter, Zacks reports. Three analysts have issued estimates for Astec Industries’ earnings, with the highest EPS estimate coming in at $0.57 and the lowest estimate coming in at $0.40. Astec Industries reported earnings per share of $0.67 in the same quarter last year, which suggests a negative year over year growth rate of 26.9%. The company is expected to report its next earnings results before the market opens on Wednesday, August 4th.

On average, analysts expect that Astec Industries will report full-year earnings of $2.07 per share for the current year, with EPS estimates ranging from $1.99 to $2.15. For the next year, analysts forecast that the firm will post earnings of $3.13 per share, with EPS estimates ranging from $3.05 to $3.20. Zacks’ EPS averages are a mean average based on a survey of analysts that follow Astec Industries.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Tuesday, May 4th. The industrial products company reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.42). Astec Industries had a return on equity of 6.62% and a net margin of 3.44%. The business had revenue of $284.40 million during the quarter, compared to analysts’ expectations of $311.45 million. During the same quarter in the prior year, the firm earned $0.97 EPS. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year.

ASTE has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Astec Industries from a “hold” rating to a “strong sell” rating and set a $51.00 price target for the company. in a research note on Monday, June 21st. TheStreet downgraded shares of Astec Industries from a “b” rating to a “c+” rating in a research report on Wednesday, May 5th. Finally, Stifel Nicolaus raised Astec Industries from a “hold” rating to a “buy” rating and raised their target price for the stock from $75.00 to $81.00 in a research report on Thursday, May 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Astec Industries presently has an average rating of “Hold” and an average price target of $72.00.

Shares of NASDAQ:ASTE opened at $60.09 on Monday. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 39.27 and a beta of 1.37. The stock has a 50-day simple moving average of $63.98. Astec Industries has a fifty-two week low of $43.79 and a fifty-two week high of $80.00.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 27th. Shareholders of record on Tuesday, May 11th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Monday, May 10th. Astec Industries’s dividend payout ratio is presently 18.49%.

Several hedge funds have recently bought and sold shares of the company. Bank of Montreal Can increased its holdings in Astec Industries by 190.2% in the 1st quarter. Bank of Montreal Can now owns 174,532 shares of the industrial products company’s stock worth $13,108,000 after acquiring an additional 114,390 shares in the last quarter. Citigroup Inc. increased its stake in shares of Astec Industries by 43.5% in the fourth quarter. Citigroup Inc. now owns 13,612 shares of the industrial products company’s stock worth $788,000 after purchasing an additional 4,126 shares in the last quarter. Impala Asset Management LLC bought a new stake in shares of Astec Industries during the 1st quarter valued at $14,784,000. Swiss National Bank lifted its stake in shares of Astec Industries by 0.9% during the 1st quarter. Swiss National Bank now owns 46,500 shares of the industrial products company’s stock valued at $3,507,000 after buying an additional 400 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in Astec Industries in the 1st quarter worth $251,000. 91.55% of the stock is currently 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 in the United States and internationally. The company's Infrastructure Solutions segment designs, engineers, manufactures, and markets 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 offers engineering and environmental permitting services.

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