Brokerages Expect Astec Industries, Inc. (ASTE) Will Announce Earnings of $0.45 Per Share

Brokerages expect Astec Industries, Inc. (NASDAQ:ASTE) to report earnings of $0.45 per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Astec Industries’ earnings, with the lowest EPS estimate coming in at $0.42 and the highest estimate coming in at $0.48. Astec Industries reported earnings per share of $0.53 during the same quarter last year, which indicates a negative year-over-year growth rate of 15.1%. The company is scheduled to announce its next earnings report on Tuesday, February 20th.

On average, analysts expect that Astec Industries will report full year earnings of $1.61 per share for the current year, with EPS estimates ranging from $1.58 to $1.64. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.96 per share, with EPS estimates ranging from $2.70 to $3.21. Zacks’ EPS averages are an average based on a survey of analysts that cover Astec Industries.

Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings data on Tuesday, October 24th. The industrial products company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The business had revenue of $252.10 million during the quarter, compared to analysts’ expectations of $261.06 million. Astec Industries had a return on equity of 5.89% and a net margin of 3.27%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.30 earnings per share.

Several research analysts have weighed in on the company. BidaskClub lowered Astec Industries from a “buy” rating to a “hold” rating in a research report on Saturday. TheStreet lowered Astec Industries from a “b” rating to a “c+” rating in a research report on Tuesday, October 24th. Robert W. Baird raised Astec Industries from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $56.00 to $65.00 in a research report on Tuesday, October 3rd. Finally, Zacks Investment Research raised Astec Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $75.00.

Shares of Astec Industries (ASTE) traded up $0.13 during trading on Friday, reaching $55.50. The company had a trading volume of 268,558 shares, compared to its average volume of 169,527. Astec Industries has a 1 year low of $45.70 and a 1 year high of $73.37. The stock has a market cap of $1,280.39, a P/E ratio of 33.04, a P/E/G ratio of 3.45 and a beta of 1.05.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 29th. Shareholders of record on Monday, November 13th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Friday, November 10th. Astec Industries’s payout ratio is currently 23.81%.

Hedge funds have recently modified their holdings of the business. Municipal Employees Retirement System of Michigan increased its position in Astec Industries by 2.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 5,670 shares of the industrial products company’s stock worth $315,000 after purchasing an additional 140 shares during the last quarter. State of Wisconsin Investment Board increased its holdings in shares of Astec Industries by 114.1% during the 2nd quarter. State of Wisconsin Investment Board now owns 68,500 shares of the industrial products company’s stock valued at $3,802,000 after acquiring an additional 36,500 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Astec Industries by 8.4% during the 2nd quarter. Legal & General Group Plc now owns 56,156 shares of the industrial products company’s stock valued at $3,117,000 after acquiring an additional 4,354 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Astec Industries by 83.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,675 shares of the industrial products company’s stock valued at $371,000 after acquiring an additional 3,044 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in shares of Astec Industries by 21.0% during the 3rd quarter. Gamco Investors INC. ET AL now owns 1,274,239 shares of the industrial products company’s stock valued at $71,370,000 after acquiring an additional 221,167 shares during the last quarter. 79.62% of the stock is currently owned by institutional investors.

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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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Earnings History and Estimates for Astec Industries (NASDAQ:ASTE)

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