Astec Industries, Inc. (NASDAQ:ASTE) Expected to Post Quarterly Sales of $262.98 Million

Equities analysts forecast that Astec Industries, Inc. (NASDAQ:ASTE) will announce sales of $262.98 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Astec Industries’ earnings. The highest sales estimate is $266.70 million and the lowest is $256.90 million. Astec Industries reported sales of $256.61 million during the same quarter last year, which indicates a positive year over year growth rate of 2.5%. The company is scheduled to report its next quarterly earnings results on Tuesday, October 22nd.

On average, analysts expect that Astec Industries will report full-year sales of $1.21 billion for the current financial year, with estimates ranging from $1.18 billion to $1.22 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.20 billion, with estimates ranging from $1.18 billion to $1.23 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Astec Industries.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.05). The company had revenue of $304.80 million during the quarter, compared to analysts’ expectations of $299.96 million. Astec Industries had a negative net margin of 0.20% and a positive return on equity of 7.07%. Astec Industries’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same quarter last year, the company earned $1.03 earnings per share.

Several brokerages recently weighed in on ASTE. BidaskClub lowered Astec Industries from a “buy” rating to a “hold” rating in a research report on Friday, June 7th. ValuEngine upgraded Astec Industries from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 27th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Astec Industries has an average rating of “Hold” and a consensus price target of $41.00.

Astec Industries stock traded down $0.75 during mid-day trading on Monday, hitting $29.55. The company’s stock had a trading volume of 68,361 shares, compared to its average volume of 168,227. The firm has a market cap of $665.76 million, a price-to-earnings ratio of 10.12 and a beta of 1.44. Astec Industries has a 1 year low of $27.86 and a 1 year high of $52.88. The company has a quick ratio of 1.13, a current ratio of 3.21 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average price of $31.53.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Monday, August 12th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, August 9th. Astec Industries’s payout ratio is currently 15.07%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Gamco Investors INC. ET AL raised its stake in shares of Astec Industries by 9.9% in the second quarter. Gamco Investors INC. ET AL now owns 1,350,011 shares of the industrial products company’s stock valued at $43,956,000 after acquiring an additional 122,125 shares in the last quarter. Investment Counselors of Maryland LLC raised its stake in shares of Astec Industries by 1.1% in the second quarter. Investment Counselors of Maryland LLC now owns 494,133 shares of the industrial products company’s stock valued at $16,089,000 after acquiring an additional 5,435 shares in the last quarter. Teton Advisors Inc. raised its stake in shares of Astec Industries by 7.6% in the second quarter. Teton Advisors Inc. now owns 330,600 shares of the industrial products company’s stock valued at $10,764,000 after acquiring an additional 23,400 shares in the last quarter. Norges Bank acquired a new stake in shares of Astec Industries in the fourth quarter valued at $8,478,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Astec Industries by 6.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 271,115 shares of the industrial products company’s stock valued at $8,828,000 after acquiring an additional 15,708 shares in the last quarter. Institutional investors and hedge funds own 92.81% of the company’s stock.

Astec Industries Company Profile

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's Infrastructure Group segment provides hot-mix asphalt plants, wood pellet plants, asphalt pavers, material transfer vehicles, soil stabilizing reclaiming machinery, milling machines, paver screeds, and related ancillary equipment.

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