Zacks: Brokerages Anticipate Astec Industries, Inc. (ASTE) Will Post Earnings of $0.93 Per Share

Wall Street analysts expect Astec Industries, Inc. (NASDAQ:ASTE) to report earnings of $0.93 per share for the current quarter, Zacks reports. Four analysts have issued estimates for Astec Industries’ earnings. The highest EPS estimate is $0.96 and the lowest is $0.89. Astec Industries posted earnings of $0.62 per share in the same quarter last year, which would suggest a positive year over year growth rate of 50%. The firm is expected to announce its next quarterly earnings report on Tuesday, July 24th.

On average, analysts expect that Astec Industries will report full-year earnings of $3.39 per share for the current year, with EPS estimates ranging from $3.15 to $3.52. For the next fiscal year, analysts forecast that the company will report earnings of $3.93 per share, with EPS estimates ranging from $3.75 to $4.10. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Astec Industries.

Astec Industries (NASDAQ:ASTE) last released its earnings results on Tuesday, April 24th. The industrial products company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. The business had revenue of $325.50 million during the quarter, compared to the consensus estimate of $336.32 million. Astec Industries had a net margin of 3.60% and a return on equity of 6.09%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 EPS.

ASTE has been the subject of a number of recent analyst reports. Dougherty & Co raised shares of Astec Industries from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Wednesday, February 21st. BidaskClub downgraded shares of Astec Industries from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Robert W. Baird reissued a “buy” rating and set a $64.00 target price on shares of Astec Industries in a research report on Friday, April 13th. Stifel Nicolaus decreased their target price on shares of Astec Industries from $67.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, April 25th. Finally, ValuEngine downgraded shares of Astec Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $67.25.

NASDAQ:ASTE traded down $0.20 on Friday, reaching $60.12. 88,000 shares of the stock traded hands, compared to its average volume of 137,686. The company has a market capitalization of $1.39 billion, a PE ratio of 38.03, a P/E/G ratio of 1.77 and a beta of 1.14. Astec Industries has a 1-year low of $45.70 and a 1-year high of $64.80.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 30th. Stockholders of record on Monday, May 14th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Friday, May 11th. Astec Industries’s dividend payout ratio (DPR) is 25.32%.

In other news, CEO Benjamin G. Brock sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $54.41, for a total transaction of $598,510.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. California Public Employees Retirement System grew its position in shares of Astec Industries by 3.0% during the 4th quarter. California Public Employees Retirement System now owns 30,898 shares of the industrial products company’s stock worth $1,808,000 after buying an additional 900 shares during the period. Aperio Group LLC grew its position in shares of Astec Industries by 13.9% during the 1st quarter. Aperio Group LLC now owns 11,702 shares of the industrial products company’s stock worth $646,000 after buying an additional 1,426 shares during the period. SG Americas Securities LLC grew its position in shares of Astec Industries by 19.7% during the 1st quarter. SG Americas Securities LLC now owns 9,055 shares of the industrial products company’s stock worth $500,000 after buying an additional 1,491 shares during the period. Swiss National Bank grew its position in shares of Astec Industries by 4.9% during the 1st quarter. Swiss National Bank now owns 34,200 shares of the industrial products company’s stock worth $1,887,000 after buying an additional 1,600 shares during the period. Finally, Two Sigma Advisers LP grew its position in shares of Astec Industries by 14.1% during the 4th quarter. Two Sigma Advisers LP now owns 15,363 shares of the industrial products company’s stock worth $899,000 after buying an additional 1,900 shares during the period. 88.82% of the stock is owned by institutional investors.

About Astec Industries

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

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