Brokerages Anticipate Astec Industries, Inc. (ASTE) Will Post Quarterly Sales of $264.67 Million
Wall Street brokerages expect Astec Industries, Inc. (NASDAQ:ASTE) to post sales of $264.67 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Astec Industries’ earnings. The lowest sales estimate is $254.20 million and the highest is $282.10 million. Astec Industries posted sales of $247.75 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.8%. The firm is expected to announce its next quarterly earnings results on Tuesday, October 24th.
On average, analysts expect that Astec Industries will report full-year sales of $264.67 million for the current year, with estimates ranging from $1.18 billion to $1.21 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.34 billion per share, with estimates ranging from $1.29 billion to $1.45 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Astec Industries.
Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.18). Astec Industries had a return on equity of 7.40% and a net margin of 4.08%. The firm had revenue of $301.90 million for the quarter, compared to analyst estimates of $314.31 million. During the same quarter last year, the company earned $0.79 earnings per share. The company’s quarterly revenue was up 2.5% compared to the same quarter last year.
A number of equities research analysts recently commented on ASTE shares. Dougherty & Co lowered shares of Astec Industries from a “buy” rating to a “neutral” rating and set a $85.00 price target for the company. in a report on Wednesday, July 26th. BidaskClub downgraded shares of Astec Industries from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st.
Several large investors have recently modified their holdings of the company. BlackRock Inc. increased its holdings in Astec Industries by 69,549.4% in the 1st quarter. BlackRock Inc. now owns 2,317,931 shares of the industrial products company’s stock worth $142,543,000 after acquiring an additional 2,314,603 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Astec Industries by 25.9% during the 2nd quarter. Alliancebernstein L.P. now owns 590,307 shares of the industrial products company’s stock valued at $32,768,000 after buying an additional 121,309 shares in the last quarter. Vanguard Group Inc. grew its holdings in Astec Industries by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 1,807,106 shares of the industrial products company’s stock valued at $111,128,000 after buying an additional 109,609 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Astec Industries by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,591,790 shares of the industrial products company’s stock valued at $88,360,000 after buying an additional 88,543 shares in the last quarter. Finally, Royce & Associates LP grew its holdings in Astec Industries by 51.4% during the 2nd quarter. Royce & Associates LP now owns 246,163 shares of the industrial products company’s stock valued at $13,665,000 after buying an additional 83,601 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.
Shares of Astec Industries (NASDAQ ASTE) opened at 51.69 on Tuesday. The stock’s 50 day moving average is $48.16 and its 200 day moving average is $55.96. The firm has a market capitalization of $1.19 billion, a PE ratio of 24.60 and a beta of 1.10. Astec Industries has a 52-week low of $45.70 and a 52-week high of $73.37.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Shareholders of record on Friday, August 11th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Wednesday, August 9th. Astec Industries’s dividend payout ratio is currently 19.05%.
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About Astec Industries
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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