Zacks: Analysts Anticipate Astec Industries, Inc. (NASDAQ:ASTE) Will Post Earnings of $0.49 Per Share

Equities analysts predict that Astec Industries, Inc. (NASDAQ:ASTE) will post $0.49 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Astec Industries’ earnings, with the highest EPS estimate coming in at $0.57 and the lowest estimate coming in at $0.40. Astec Industries posted earnings per share of $0.67 in the same quarter last year, which suggests a negative year over year growth rate of 26.9%. The company is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, August 4th.

On average, analysts expect that Astec Industries will report full-year earnings of $2.07 per share for the current fiscal year, with EPS estimates ranging from $1.99 to $2.15. For the next year, analysts expect that the company will post earnings of $3.13 per share, with EPS estimates ranging from $3.05 to $3.20. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Astec Industries.

Astec Industries (NASDAQ:ASTE) last announced its earnings results on Tuesday, May 4th. The industrial products company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.42). The business had revenue of $284.40 million for the quarter, compared to the consensus estimate of $311.45 million. Astec Industries had a net margin of 3.44% and a return on equity of 6.62%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.97 EPS.

A number of research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Astec Industries from a “hold” rating to a “strong sell” rating and set a $51.00 target price on the stock. in a research report on Monday, June 21st. TheStreet cut shares of Astec Industries from a “b” rating to a “c+” rating in a research report on Wednesday, May 5th. Finally, Stifel Nicolaus raised Astec Industries from a “hold” rating to a “buy” rating and upped their price target for the stock from $75.00 to $81.00 in a research note on Thursday, May 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $72.00.

A number of institutional investors have recently made changes to their positions in ASTE. BlackRock Inc. lifted its stake in Astec Industries by 5.8% during the 1st quarter. BlackRock Inc. now owns 3,639,411 shares of the industrial products company’s stock valued at $274,485,000 after acquiring an additional 199,255 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Astec Industries by 2.5% in the first quarter. Franklin Resources Inc. now owns 742,955 shares of the industrial products company’s stock valued at $56,034,000 after purchasing an additional 18,472 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Astec Industries by 10.1% during the first quarter. Geode Capital Management LLC now owns 383,002 shares of the industrial products company’s stock valued at $28,886,000 after purchasing an additional 35,233 shares in the last quarter. Investment Counselors of Maryland LLC boosted its holdings in Astec Industries by 3.5% during the first quarter. Investment Counselors of Maryland LLC now owns 350,370 shares of the industrial products company’s stock worth $26,425,000 after purchasing an additional 12,007 shares during the last quarter. Finally, Aperture Investors LLC grew its position in Astec Industries by 40.4% in the 1st quarter. Aperture Investors LLC now owns 332,561 shares of the industrial products company’s stock worth $25,082,000 after purchasing an additional 95,634 shares in the last quarter. Institutional investors and hedge funds own 91.55% of the company’s stock.

Astec Industries stock opened at $60.09 on Monday. The company has a market cap of $1.37 billion, a PE ratio of 39.27 and a beta of 1.37. Astec Industries has a 52-week low of $43.79 and a 52-week high of $80.00. The stock’s 50 day simple moving average is $63.98.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 27th. Stockholders of record on Tuesday, May 11th were issued a $0.11 dividend. The ex-dividend date of this dividend was Monday, May 10th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.73%. Astec Industries’s dividend payout ratio is presently 18.49%.

Astec Industries Company Profile

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities in the United States and internationally. The company's Infrastructure Solutions segment designs, engineers, manufactures, and markets 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 offers engineering and environmental permitting services.

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