Q2 2024 EPS Estimates for Astec Industries, Inc. (NASDAQ:ASTE) Reduced by Analyst

Astec Industries, Inc. (NASDAQ:ASTE) – Equities researchers at Zacks Research reduced their Q2 2024 earnings per share estimates for shares of Astec Industries in a note issued to investors on Thursday, March 28th. Zacks Research analyst S. Deb now anticipates that the industrial products company will earn $0.77 per share for the quarter, down from their prior forecast of $0.79. The consensus estimate for Astec Industries’ current full-year earnings is $2.89 per share. Zacks Research also issued estimates for Astec Industries’ Q3 2024 earnings at $0.31 EPS, Q4 2024 earnings at $0.86 EPS, FY2024 earnings at $2.86 EPS, Q1 2025 earnings at $0.88 EPS, Q2 2025 earnings at $0.83 EPS, FY2025 earnings at $3.10 EPS and FY2026 earnings at $3.46 EPS.

ASTE has been the topic of several other reports. StockNews.com raised Astec Industries from a “hold” rating to a “buy” rating in a research report on Monday, March 11th. Stifel Nicolaus increased their target price on Astec Industries from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th.

Astec Industries Trading Up 0.6 %

Shares of Astec Industries stock opened at $43.71 on Friday. Astec Industries has a fifty-two week low of $28.97 and a fifty-two week high of $56.33. The firm has a market cap of $993.97 million, a PE ratio of 29.73 and a beta of 1.38. The business’s fifty day moving average is $37.95 and its two-hundred day moving average is $38.16. The company has a quick ratio of 0.88, a current ratio of 2.41 and a debt-to-equity ratio of 0.11.

Astec Industries (NASDAQ:ASTE) last announced its earnings results on Wednesday, February 28th. The industrial products company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.28. The firm had revenue of $337.20 million for the quarter, compared to analysts’ expectations of $332.33 million. Astec Industries had a return on equity of 9.46% and a net margin of 2.50%. Astec Industries’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 EPS.

Hedge Funds Weigh In On Astec Industries

A number of large investors have recently bought and sold shares of ASTE. Moisand Fitzgerald Tamayo LLC bought a new position in Astec Industries in the third quarter worth about $29,000. Quest Partners LLC bought a new stake in shares of Astec Industries during the fourth quarter valued at approximately $42,000. GAMMA Investing LLC bought a new stake in shares of Astec Industries during the fourth quarter valued at approximately $44,000. PNC Financial Services Group Inc. raised its holdings in shares of Astec Industries by 157.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,103 shares of the industrial products company’s stock valued at $45,000 after buying an additional 674 shares during the last quarter. Finally, TFO Wealth Partners LLC raised its holdings in shares of Astec Industries by 41,600.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,251 shares of the industrial products company’s stock valued at $47,000 after buying an additional 1,248 shares during the last quarter. Institutional investors own 93.16% of the company’s stock.

Astec Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 11th will be paid a $0.13 dividend. The ex-dividend date is Friday, March 8th. This represents a $0.52 dividend on an annualized basis and a yield of 1.19%. Astec Industries’s dividend payout ratio (DPR) is 35.37%.

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.