Equities analysts expect Astec Industries, Inc. (NASDAQ:ASTE) to post $338.85 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Astec Industries’ earnings. The highest sales estimate is $383.50 million and the lowest is $312.10 million. Astec Industries reported sales of $312.38 million during the same quarter last year, which indicates a positive year over year growth rate of 8.5%. The firm is expected to report its next earnings report on Tuesday, February 19th.
On average, analysts expect that Astec Industries will report full-year sales of $1.24 billion for the current financial year, with estimates ranging from $1.24 billion to $1.25 billion. For the next year, analysts anticipate that the company will post sales of $1.28 billion, with estimates ranging from $1.27 billion to $1.29 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Astec Industries.
Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.29). Astec Industries had a positive return on equity of 9.06% and a negative net margin of 0.21%. The business had revenue of $256.60 million for the quarter, compared to analyst estimates of $276.80 million. During the same period in the prior year, the firm posted ($0.12) EPS. Astec Industries’s revenue for the quarter was up 1.8% on a year-over-year basis.
ASTE has been the subject of several research analyst reports. Zacks Investment Research raised Astec Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. ValuEngine cut Astec Industries from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 23rd. William Blair cut Astec Industries from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 23rd. BidaskClub cut Astec Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Finally, Stifel Nicolaus cut Astec Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $64.00.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Astec Industries by 3.0% during the third quarter. Vanguard Group Inc. now owns 2,067,387 shares of the industrial products company’s stock valued at $104,217,000 after acquiring an additional 59,836 shares during the period. Legal & General Group Plc increased its stake in Astec Industries by 26.6% during the third quarter. Legal & General Group Plc now owns 54,148 shares of the industrial products company’s stock valued at $2,737,000 after acquiring an additional 11,362 shares during the period. Thrivent Financial for Lutherans increased its stake in Astec Industries by 19.7% during the third quarter. Thrivent Financial for Lutherans now owns 15,739 shares of the industrial products company’s stock valued at $793,000 after acquiring an additional 2,594 shares during the period. MetLife Investment Advisors LLC increased its stake in Astec Industries by 53.3% during the third quarter. MetLife Investment Advisors LLC now owns 15,491 shares of the industrial products company’s stock valued at $781,000 after acquiring an additional 5,386 shares during the period. Finally, Tocqueville Asset Management L.P. bought a new position in Astec Industries during the third quarter valued at about $2,663,000. Hedge funds and other institutional investors own 95.48% of the company’s stock.
Shares of NASDAQ ASTE traded down $0.24 during trading hours on Monday, hitting $35.34. 205,573 shares of the company’s stock were exchanged, compared to its average volume of 182,812. Astec Industries has a 1-year low of $32.51 and a 1-year high of $64.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.94 and a current ratio of 3.02. The stock has a market capitalization of $764.63 million, a PE ratio of 22.37 and a beta of 1.39.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 28th. Investors of record on Tuesday, November 13th were paid a dividend of $0.11 per share. The ex-dividend date was Friday, November 9th. This represents a $0.44 annualized dividend and a yield of 1.25%. Astec Industries’s dividend payout ratio is 27.85%.
About Astec Industries
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company operates through Infrastructure Group, Aggregate and Mining Group, and Energy Group segments.
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