Equities analysts expect that Astec Industries, Inc. (NASDAQ:ASTE) will announce earnings per share of $0.93 for the current 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 reported earnings of $0.62 per share in the same quarter last year, which would indicate a positive year over year growth rate of 50%. The firm 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 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 analysts that that provide coverage for Astec Industries.
Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings results on Tuesday, April 24th. The industrial products company reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.01. Astec Industries had a net margin of 3.60% and a return on equity of 6.09%. The business had revenue of $325.50 million during the quarter, compared to the consensus estimate of $336.32 million. During the same quarter in the prior year, the firm earned $0.65 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis.
A number of research firms have issued reports on ASTE. BidaskClub upgraded shares of Astec Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, May 9th. ValuEngine downgraded shares of Astec Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Stifel Nicolaus cut their target price on shares of Astec Industries from $67.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, April 25th. Robert W. Baird reiterated a “buy” rating and issued a $64.00 target price on shares of Astec Industries in a research report on Friday, April 13th. Finally, Dougherty & Co upgraded shares of Astec Industries from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Wednesday, February 21st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $67.25.
In other news, CEO Benjamin G. Brock sold 11,000 shares of the stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $54.41, for a total transaction of $598,510.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.70% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its stake in Astec Industries by 1.1% in the 1st quarter. BlackRock Inc. now owns 2,532,719 shares of the industrial products company’s stock valued at $139,755,000 after buying an additional 26,528 shares during the last quarter. Franklin Resources Inc. grew its stake in Astec Industries by 69.7% in the 1st quarter. Franklin Resources Inc. now owns 1,778,353 shares of the industrial products company’s stock valued at $98,129,000 after buying an additional 730,594 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Astec Industries by 8.8% in the 4th quarter. Bank of New York Mellon Corp now owns 633,973 shares of the industrial products company’s stock valued at $37,088,000 after buying an additional 51,112 shares during the last quarter. Gabelli Funds LLC grew its stake in Astec Industries by 0.9% in the 1st quarter. Gabelli Funds LLC now owns 605,900 shares of the industrial products company’s stock valued at $33,434,000 after buying an additional 5,700 shares during the last quarter. Finally, Marcato Capital Management LP acquired a new position in Astec Industries in the 1st quarter valued at $29,016,000. Institutional investors own 88.82% of the company’s stock.
ASTE stock traded down $0.20 during midday trading on Friday, reaching $60.12. The company had a trading volume of 88,000 shares, compared to its average volume of 137,686. Astec Industries has a 1 year low of $45.70 and a 1 year high of $64.80. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 38.03, a PEG ratio of 1.77 and a beta of 1.14.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 30th. Stockholders of record on Monday, May 14th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, May 11th. This represents a $0.40 annualized dividend and a dividend yield of 0.67%. Astec Industries’s dividend payout ratio (DPR) is 25.32%.
About Astec Industries
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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