Astec Industries (NASDAQ:ASTE) Releases Earnings Results, Misses Estimates By $0.47 EPS

Astec Industries (NASDAQ:ASTE) posted its quarterly earnings data on Wednesday. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.47), Yahoo Finance reports. The firm had revenue of $309.20 million for the quarter, compared to the consensus estimate of $343.27 million. Astec Industries had a return on equity of 9.46% and a net margin of 2.50%. The company’s revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 EPS.

Astec Industries Stock Performance

ASTE traded down $0.78 during trading on Thursday, reaching $32.99. 84,788 shares of the company’s stock were exchanged, compared to its average volume of 135,217. The stock has a market capitalization of $750.19 million, a P/E ratio of 22.37 and a beta of 1.40. Astec Industries has a 1 year low of $28.97 and a 1 year high of $56.33. The company’s fifty day simple moving average is $41.42 and its 200-day simple moving average is $37.35. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.41 and a quick ratio of 0.88.

Astec Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 13th will be given a $0.13 dividend. The ex-dividend date is Friday, May 10th. This represents a $0.52 dividend on an annualized basis and a yield of 1.58%. Astec Industries’s dividend payout ratio is currently 35.37%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Stifel Nicolaus lowered Astec Industries from a “buy” rating to a “hold” rating and reduced their target price for the company from $47.00 to $37.00 in a research report on Thursday. StockNews.com upgraded shares of Astec Industries from a “hold” rating to a “buy” rating in a research note on Monday, March 11th.

About Astec Industries

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as engineering and environmental permitting services.