Brokerages Expect Astec Industries, Inc. (ASTE) to Post -$0.12 EPS
Equities research analysts forecast that Astec Industries, Inc. (NASDAQ:ASTE) will announce earnings of ($0.12) per share for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Astec Industries’ earnings, with the highest EPS estimate coming in at ($0.05) and the lowest estimate coming in at ($0.21). Astec Industries posted earnings per share of $0.30 during the same quarter last year, which would indicate a negative year-over-year growth rate of 140%. The company is scheduled to issue its next earnings report on Tuesday, October 24th.
On average, analysts expect that Astec Industries will report full-year earnings of $1.93 per share for the current financial year, with EPS estimates ranging from $1.85 to $2.07. For the next financial year, analysts forecast that the company will post earnings of $3.04 per share, with EPS estimates ranging from $2.80 to $3.20. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that cover Astec Industries.
Astec Industries (NASDAQ:ASTE) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.18). The business had revenue of $301.90 million during the quarter, compared to analyst estimates of $314.31 million. Astec Industries had a return on equity of 7.40% and a net margin of 4.08%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.79 EPS.
Several equities analysts have issued reports on ASTE shares. BidaskClub cut shares of Astec Industries from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 21st. Robert W. Baird raised shares of Astec Industries from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $56.00 to $65.00 in a research note on Tuesday. Dougherty & Co cut shares of Astec Industries from a “buy” rating to a “neutral” rating and set a $85.00 price objective on the stock. in a research note on Wednesday, July 26th. Finally, Zacks Investment Research raised shares of Astec Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Astec Industries currently has an average rating of “Hold” and a consensus target price of $75.00.
Several large investors have recently bought and sold shares of ASTE. Ameritas Investment Partners Inc. acquired a new position in shares of Astec Industries during the 1st quarter worth $103,000. Victory Capital Management Inc. grew its stake in shares of Astec Industries by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,938 shares of the industrial products company’s stock worth $108,000 after purchasing an additional 289 shares during the period. Quantbot Technologies LP grew its stake in shares of Astec Industries by 110.2% during the 1st quarter. Quantbot Technologies LP now owns 2,182 shares of the industrial products company’s stock worth $134,000 after purchasing an additional 1,144 shares during the period. SG Americas Securities LLC grew its stake in shares of Astec Industries by 80.7% during the 2nd quarter. SG Americas Securities LLC now owns 3,266 shares of the industrial products company’s stock worth $181,000 after purchasing an additional 1,459 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in shares of Astec Industries by 78.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,760 shares of the industrial products company’s stock worth $208,000 after purchasing an additional 1,650 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.
Astec Industries (NASDAQ ASTE) traded down 1.702% during mid-day trading on Friday, hitting $52.855. 89,291 shares of the stock were exchanged. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 25.157 and a beta of 1.11. Astec Industries has a 52-week low of $45.70 and a 52-week high of $73.37. The company has a 50 day moving average price of $50.59 and a 200 day moving average price of $55.32.
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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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