Brokerages forecast that Astec Industries, Inc. (NASDAQ:ASTE – Get Rating) will post sales of $309.10 million for the current quarter, Zacks reports. Two analysts have provided estimates for Astec Industries’ earnings. The highest sales estimate is $310.69 million and the lowest is $307.50 million. Astec Industries posted sales of $278.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 11.2%. The firm is scheduled to issue its next earnings report on Monday, January 1st.
On average, analysts expect that Astec Industries will report full-year sales of $1.20 billion for the current financial year. For the next fiscal year, analysts anticipate that the company will post sales of $1.33 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Astec Industries.
Astec Industries (NASDAQ:ASTE – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.24. Astec Industries had a net margin of 1.20% and a return on equity of 4.74%. The business had revenue of $291.20 million during the quarter, compared to the consensus estimate of $286.56 million. During the same quarter last year, the company posted $0.41 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year.
ASTE has been the topic of several research analyst reports. StockNews.com cut shares of Astec Industries from a “buy” rating to a “hold” rating in a research note on Friday, May 13th. Robert W. Baird cut shares of Astec Industries from an “outperform” rating to a “neutral” rating and set a $40.00 price objective on the stock. in a research note on Friday, April 8th. Finally, Zacks Investment Research cut shares of Astec Industries from a “hold” rating to a “strong sell” rating and set a $47.00 price objective on the stock. in a research note on Friday, February 18th.
A number of institutional investors have recently added to or reduced their stakes in ASTE. Westwood Holdings Group Inc. purchased a new stake in Astec Industries in the 4th quarter worth approximately $32,361,000. BlackRock Inc. grew its holdings in Astec Industries by 8.6% during the 4th quarter. BlackRock Inc. now owns 3,863,497 shares of the industrial products company’s stock valued at $267,624,000 after buying an additional 304,700 shares in the last quarter. Norges Bank purchased a new stake in Astec Industries during the 4th quarter valued at approximately $14,437,000. Redwood Investments LLC grew its holdings in Astec Industries by 57.4% during the 4th quarter. Redwood Investments LLC now owns 451,062 shares of the industrial products company’s stock valued at $31,245,000 after buying an additional 164,408 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in Astec Industries during the 1st quarter valued at approximately $2,721,000. 94.52% of the stock is owned by institutional investors.
NASDAQ ASTE opened at $47.80 on Friday. The company has a market capitalization of $1.09 billion, a PE ratio of 82.42 and a beta of 1.28. The company has a 50-day simple moving average of $42.22 and a 200 day simple moving average of $53.99. Astec Industries has a 52-week low of $36.31 and a 52-week high of $75.00.
The company also recently announced a quarterly dividend, which was paid on Friday, May 27th. Investors of record on Friday, May 13th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.00%. The ex-dividend date was Thursday, May 12th. Astec Industries’s dividend payout ratio is 82.76%.
Astec Industries Company Profile (Get Rating)
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities in the United States and internationally. 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.
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