$264.67 Million in Sales Expected for Astec Industries, Inc. (ASTE) This Quarter
Wall Street analysts expect Astec Industries, Inc. (NASDAQ:ASTE) to report $264.67 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Astec Industries’ earnings, with the lowest sales estimate coming in at $254.20 million and the highest estimate coming in at $282.10 million. Astec Industries posted sales of $247.75 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.8%. The business is scheduled to report its next quarterly earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that Astec Industries will report full year sales of $264.67 million for the current fiscal year, with estimates ranging from $1.18 billion to $1.21 billion. For the next financial year, analysts anticipate that the business will report sales of $1.34 billion per share, with estimates ranging from $1.29 billion to $1.45 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Astec Industries.
Astec Industries (NASDAQ:ASTE) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.18). Astec Industries had a net margin of 4.08% and a return on equity of 7.40%. The business had revenue of $301.90 million for the quarter, compared to the consensus estimate of $314.31 million. During the same period in the prior year, the business posted $0.79 EPS. Astec Industries’s revenue for the quarter was up 2.5% on a year-over-year basis.
Several equities research analysts have recently commented on ASTE shares. BidaskClub lowered shares of Astec Industries from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. Dougherty & Co lowered shares of Astec Industries from a “buy” rating to a “neutral” rating and set a $85.00 price objective for the company. in a research note on Wednesday, July 26th.
Several hedge funds and other institutional investors have recently bought and sold shares of ASTE. BlackRock Inc. raised its stake in shares of Astec Industries by 69,549.4% during the 1st quarter. BlackRock Inc. now owns 2,317,931 shares of the industrial products company’s stock worth $142,543,000 after acquiring an additional 2,314,603 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Astec Industries by 25.9% during the 2nd quarter. Alliancebernstein L.P. now owns 590,307 shares of the industrial products company’s stock worth $32,768,000 after acquiring an additional 121,309 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Astec Industries by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 1,807,106 shares of the industrial products company’s stock worth $111,128,000 after acquiring an additional 109,609 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Astec Industries by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,591,790 shares of the industrial products company’s stock worth $88,360,000 after acquiring an additional 88,543 shares in the last quarter. Finally, Royce & Associates LP raised its stake in shares of Astec Industries by 51.4% during the 2nd quarter. Royce & Associates LP now owns 246,163 shares of the industrial products company’s stock worth $13,665,000 after acquiring an additional 83,601 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.
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Astec Industries (NASDAQ:ASTE) traded up 1.21% during midday trading on Tuesday, hitting $53.50. 39,884 shares of the stock were exchanged. The company has a market cap of $1.23 billion, a PE ratio of 25.46 and a beta of 1.10. Astec Industries has a 12 month low of $45.70 and a 12 month high of $73.37. The firm’s 50 day moving average price is $48.24 and its 200 day moving average price is $55.88.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 29th. Investors of record on Friday, August 11th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $0.40 annualized dividend and a dividend yield of 0.76%. Astec Industries’s dividend payout ratio (DPR) is presently 19.05%.
Astec Industries Company Profile
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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