$0.68 Earnings Per Share Expected for Astec Industries, Inc. (ASTE) This Quarter
Analysts expect Astec Industries, Inc. (NASDAQ:ASTE) to report earnings per share of $0.68 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Astec Industries’ earnings, with estimates ranging from $0.64 to $0.69. Astec Industries reported earnings per share of $0.77 during the same quarter last year, which would suggest a negative year over year growth rate of 11.7%. The company is expected to report its next earnings results before the market opens on Tuesday, April 25th.
On average, analysts expect that Astec Industries will report full-year earnings of $2.71 per share for the current financial year, with EPS estimates ranging from $2.55 to $2.90. For the next year, analysts expect that the company will post earnings of $3.28 per share, with EPS estimates ranging from $3.00 to $3.57. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Astec Industries.
Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings results on Tuesday, February 21st. The industrial products company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. Astec Industries had a net margin of 4.48% and a return on equity of 7.36%. The firm had revenue of $326.56 million for the quarter, compared to analysts’ expectations of $270.82 million. During the same period in the previous year, the firm posted $0.16 EPS. The company’s revenue for the quarter was up 51.9% on a year-over-year basis.
Separately, Griffin Securities reissued a “buy” rating on shares of Astec Industries in a research report on Tuesday, March 7th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Astec Industries has an average rating of “Buy” and a consensus target price of $66.00.
In other Astec Industries news, Vice Chairman W Norman Smith sold 5,000 shares of Astec Industries stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $62.77, for a total value of $313,850.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ASTE. Alambic Investment Management L.P. bought a new stake in shares of Astec Industries during the third quarter valued at approximately $204,000. Capital Fund Management S.A. raised its stake in shares of Astec Industries by 227.9% in the third quarter. Capital Fund Management S.A. now owns 14,100 shares of the industrial products company’s stock valued at $844,000 after buying an additional 9,800 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Astec Industries by 85.5% in the third quarter. Wells Fargo & Company MN now owns 20,656 shares of the industrial products company’s stock valued at $1,237,000 after buying an additional 9,520 shares in the last quarter. Aperio Group LLC raised its stake in shares of Astec Industries by 1.6% in the third quarter. Aperio Group LLC now owns 6,410 shares of the industrial products company’s stock valued at $384,000 after buying an additional 104 shares in the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of Astec Industries by 8.9% in the third quarter. BlackRock Fund Advisors now owns 1,349,065 shares of the industrial products company’s stock valued at $80,769,000 after buying an additional 110,790 shares in the last quarter. 78.23% of the stock is currently owned by institutional investors and hedge funds.
Shares of Astec Industries (NASDAQ:ASTE) traded down 2.97% during midday trading on Tuesday, reaching $61.69. 218,681 shares of the company’s stock traded hands. The stock has a market cap of $1.42 billion, a P/E ratio of 25.92 and a beta of 1.37. Astec Industries has a 12 month low of $45.62 and a 12 month high of $73.37. The stock has a 50 day moving average of $61.47 and a 200-day moving average of $64.07.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 28th. Shareholders of record on Friday, March 10th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.65%. The ex-dividend date was Wednesday, March 8th. Astec Industries’s dividend payout ratio is 19.80%.
About Astec Industries
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.
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