Astec Industries, Inc. (NASDAQ:ASTE) Expected to Announce Earnings of $0.80 Per Share
Equities analysts expect Astec Industries, Inc. (NASDAQ:ASTE) to post $0.80 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Astec Industries’ earnings, with estimates ranging from $0.77 to $0.85. Astec Industries reported earnings per share of $0.79 in the same quarter last year, which would suggest a positive year over year growth rate of 1.3%. The company is expected to report its next quarterly earnings report before the market opens on Tuesday, July 25th.
On average, analysts expect that Astec Industries will report full year earnings of $2.70 per share for the current financial year, with EPS estimates ranging from $2.50 to $2.91. For the next year, analysts anticipate that the firm will report earnings of $3.34 per share, with EPS estimates ranging from $3.10 to $3.61. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Astec Industries.
Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings data on Tuesday, April 25th. The industrial products company reported $0.65 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The company had revenue of $318.40 million during the quarter, compared to the consensus estimate of $291.51 million. Astec Industries had a net margin of 4.43% and a return on equity of 8.09%. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 EPS.
Separately, BidaskClub cut Astec Industries from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $72.25.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its position in Astec Industries by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,110 shares of the industrial products company’s stock valued at $129,000 after buying an additional 40 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Astec Industries by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 7,800 shares of the industrial products company’s stock valued at $480,000 after buying an additional 100 shares during the last quarter. Arizona State Retirement System raised its position in Astec Industries by 1.0% in the first quarter. Arizona State Retirement System now owns 9,966 shares of the industrial products company’s stock valued at $613,000 after buying an additional 100 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Astec Industries by 2.9% in the second quarter. Nisa Investment Advisors LLC now owns 5,260 shares of the industrial products company’s stock valued at $292,000 after buying an additional 150 shares during the last quarter. Finally, Acrospire Investment Management LLC raised its position in Astec Industries by 7.0% in the first quarter. Acrospire Investment Management LLC now owns 2,789 shares of the industrial products company’s stock valued at $172,000 after buying an additional 183 shares during the last quarter. 79.42% of the stock is owned by hedge funds and other institutional investors.
Shares of Astec Industries (ASTE) traded down 0.40% during trading on Monday, hitting $55.25. The company had a trading volume of 173,462 shares. The stock’s 50-day moving average price is $56.10 and its 200 day moving average price is $61.84. The company has a market capitalization of $1.27 billion, a P/E ratio of 24.45 and a beta of 1.11. Astec Industries has a 52 week low of $52.08 and a 52 week high of $73.37.
Astec Industries Company Profile
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.
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