$0.48 Earnings Per Share Expected for Astec Industries, Inc. (NASDAQ:ASTE) This Quarter
Wall Street analysts expect that Astec Industries, Inc. (NASDAQ:ASTE) will post $0.48 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Astec Industries’ earnings. The highest EPS estimate is $0.51 and the lowest is $0.43. Astec Industries reported earnings per share of $0.30 during the same quarter last year, which would suggest a positive year-over-year growth rate of 60%. The company is expected to announce its next earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that Astec Industries will report full-year earnings of $2.54 per share for the current financial year, with EPS estimates ranging from $2.40 to $2.71. For the next fiscal year, analysts anticipate that the business will post earnings of $3.30 per share, with EPS estimates ranging from $3.00 to $3.55. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Astec Industries.
Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by $0.18. Astec Industries had a net margin of 4.08% and a return on equity of 7.40%. The firm had revenue of $301.90 million during the quarter, compared to the consensus estimate of $314.31 million. During the same period last year, the business earned $0.79 EPS. The business’s revenue was up 2.5% on a year-over-year basis.
Several analysts have recently commented on ASTE shares. Dougherty & Co downgraded shares of Astec Industries from a “buy” rating to a “neutral” rating and set a $85.00 target price 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 report on Wednesday, June 21st.
Institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. bought a new position in Astec Industries during the first quarter valued at $103,000. Victory Capital Management Inc. raised its position in Astec Industries by 17.5% in the second quarter. Victory Capital Management Inc. now owns 1,938 shares of the industrial products company’s stock valued at $108,000 after buying an additional 289 shares during the last quarter. 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. Quantbot Technologies LP raised its position in Astec Industries by 110.2% in the first quarter. Quantbot Technologies LP now owns 2,182 shares of the industrial products company’s stock valued at $134,000 after buying an additional 1,144 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. Institutional investors own 79.63% of the company’s stock.
Shares of Astec Industries (NASDAQ:ASTE) traded up 1.14% on Friday, hitting $46.93. 276,763 shares of the stock were exchanged. Astec Industries has a 1-year low of $45.76 and a 1-year high of $73.37. The stock’s 50-day moving average is $52.57 and its 200-day moving average is $59.87. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 22.34 and a beta of 1.09.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Friday, August 11th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $0.40 annualized dividend and a dividend yield of 0.85%. Astec Industries’s dividend payout ratio is currently 19.05%.
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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