Astec Industries (NASDAQ:ASTE) Issues Earnings Results

Astec Industries (NASDAQ:ASTE) issued its quarterly earnings data on Wednesday. The industrial products company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.47), Yahoo Finance reports. Astec Industries had a net margin of 2.50% and a return on equity of 9.46%. The firm had revenue of $309.20 million during the quarter, compared to analysts’ expectations of $343.27 million. During the same quarter in the prior year, the firm posted $0.90 EPS. Astec Industries’s quarterly revenue was down 11.1% compared to the same quarter last year.

Astec Industries Price Performance

ASTE stock traded down $0.66 on Thursday, reaching $33.11. 56,694 shares of the company’s stock were exchanged, compared to its average volume of 134,692. The stock has a fifty day moving average of $41.42 and a 200-day moving average of $37.35. Astec Industries has a twelve month low of $28.97 and a twelve month high of $56.33. The firm has a market cap of $752.92 million, a PE ratio of 22.37 and a beta of 1.40. The company has a quick ratio of 0.88, a current ratio of 2.41 and a debt-to-equity ratio of 0.11.

Astec Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 13th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, May 10th. Astec Industries’s payout ratio is currently 35.37%.

Analysts Set New Price Targets

ASTE has been the topic of a number of recent research reports. StockNews.com raised Astec Industries from a “hold” rating to a “buy” rating in a report on Monday, March 11th. Stifel Nicolaus lowered Astec Industries from a “buy” rating to a “hold” rating and dropped their target price for the company from $47.00 to $37.00 in a report on Thursday.

Astec Industries Company Profile

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. 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.