Equities research analysts forecast that Astec Industries, Inc. (NASDAQ:ASTE) will announce $0.57 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Astec Industries’ earnings. The lowest EPS estimate is $0.48 and the highest is $0.64. Astec Industries reported earnings of $0.42 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 35.7%. The company is expected to report its next quarterly earnings report on Tuesday, February 19th.
According to Zacks, analysts expect that Astec Industries will report full year earnings of $2.78 per share for the current financial year, with EPS estimates ranging from $2.70 to $2.85. For the next year, analysts expect that the firm will report earnings of $3.08 per share, with EPS estimates ranging from $2.95 to $3.29. Zacks Investment Research’s earnings per share averages 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 posted its earnings results on Tuesday, October 23rd. The industrial products company reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.29). The business had revenue of $256.60 million during the quarter, compared to the consensus estimate of $276.80 million. Astec Industries had a positive return on equity of 9.06% and a negative net margin of 0.21%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.12) EPS.
ASTE has been the subject of several research analyst reports. Zacks Investment Research raised Astec Industries from a “sell” rating to a “hold” rating in a report on Tuesday, September 25th. BidaskClub lowered Astec Industries from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Stifel Nicolaus cut their price objective on Astec Industries from $65.00 to $63.00 and set a “buy” rating for the company in a report on Wednesday, July 25th. William Blair lowered Astec Industries from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 23rd. Finally, TheStreet lowered Astec Industries from a “b” rating to a “c+” rating in a report on Wednesday, July 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. Astec Industries presently has an average rating of “Hold” and an average price target of $64.00.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Strs Ohio purchased a new position in Astec Industries during the third quarter valued at $120,000. Amalgamated Bank purchased a new position in shares of Astec Industries in the second quarter valued at about $209,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Astec Industries in the first quarter valued at about $219,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Astec Industries in the second quarter valued at about $242,000. Finally, Xact Kapitalforvaltning AB purchased a new position in shares of Astec Industries in the first quarter valued at about $257,000. 91.60% of the stock is owned by institutional investors.
Astec Industries stock opened at $37.61 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.02 and a quick ratio of 0.94. Astec Industries has a 12 month low of $32.51 and a 12 month high of $64.80. The firm has a market capitalization of $782.18 million, a price-to-earnings ratio of 23.80 and a beta of 1.03.
Astec Industries announced that its Board of Directors has approved a stock buyback program on Monday, July 30th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the industrial products company to reacquire up to 13.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 28th. Investors of record on Tuesday, November 13th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Friday, November 9th. Astec Industries’s payout ratio is currently 27.85%.
Astec Industries Company Profile
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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