Equities analysts forecast that Astec Industries, Inc. (NASDAQ:ASTE) will post sales of $338.85 million for the current quarter, according to Zacks. Three analysts have provided estimates for Astec Industries’ earnings, with the lowest sales estimate coming in at $312.10 million and the highest estimate coming in at $383.50 million. Astec Industries reported sales of $312.38 million in the same quarter last year, which would suggest a positive year over year growth rate of 8.5%. The company is expected to issue its next quarterly earnings report on Tuesday, February 19th.
According to Zacks, analysts expect that Astec Industries will report full year sales of $1.24 billion for the current fiscal year, with estimates ranging from $1.24 billion to $1.25 billion. For the next year, analysts forecast that the firm will report sales of $1.28 billion, with estimates ranging from $1.27 billion to $1.29 billion. Zacks Investment Research’s sales 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 results on Tuesday, October 23rd. The industrial products company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.29). Astec Industries had a positive return on equity of 9.06% and a negative net margin of 0.21%. The business had revenue of $256.60 million for the quarter, compared to analysts’ expectations of $276.80 million. During the same period last year, the company posted ($0.12) earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis.
Astec Industries stock traded down $1.17 during trading on Friday, reaching $36.52. 493,443 shares of the company’s stock were exchanged, compared to its average volume of 404,920. The company has a current ratio of 3.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.04. The stock has a market cap of $889.56 million, a price-to-earnings ratio of 23.11 and a beta of 1.39. Astec Industries has a 52-week low of $32.51 and a 52-week high of $64.80.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Tuesday, November 13th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, November 9th. This represents a $0.44 dividend on an annualized basis and a yield of 1.20%. Astec Industries’s payout ratio is currently 27.85%.
Astec Industries declared that its board has authorized a share repurchase plan on Monday, July 30th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the industrial products company to purchase up to 13.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
Large investors have recently bought and sold shares of the business. Strs Ohio acquired a new stake in shares of Astec Industries in the 3rd quarter valued at about $120,000. Amalgamated Bank acquired a new stake in shares of Astec Industries in the 2nd quarter valued at about $209,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Astec Industries in the 1st quarter valued at about $219,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Astec Industries in the 2nd quarter valued at about $242,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of Astec Industries in the 1st quarter valued at about $257,000. 91.73% 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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