Astec Industries (NASDAQ:ASTE) Releases Earnings Results, Misses Expectations By $0.47 EPS

Astec Industries (NASDAQ:ASTE) released its quarterly earnings data on Wednesday. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.47), Yahoo Finance reports. The firm had revenue of $309.20 million for the quarter, compared to analyst estimates of $343.27 million. Astec Industries had a return on equity of 9.46% and a net margin of 2.50%. Astec Industries’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.90 earnings per share.

Astec Industries Stock Down 2.3 %

Shares of ASTE traded down $0.78 during midday trading on Thursday, hitting $32.99. The company had a trading volume of 84,788 shares, compared to its average volume of 135,217. Astec Industries has a 1 year low of $28.97 and a 1 year high of $56.33. The firm has a market capitalization of $750.19 million, a P/E ratio of 22.37 and a beta of 1.40. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.88 and a current ratio of 2.41. The company’s 50-day simple moving average is $41.42 and its 200-day simple moving average is $37.35.

Astec Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 13th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.52 annualized dividend and a yield of 1.58%. Astec Industries’s payout ratio is 35.37%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ASTE shares. StockNews.com upgraded Astec Industries from a “hold” rating to a “buy” rating in a research report on Monday, March 11th. Stifel Nicolaus cut Astec Industries from a “buy” rating to a “hold” rating and lowered their target price for the company from $47.00 to $37.00 in a report on Thursday.

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.