Zacks: Brokerages Anticipate Astec Industries, Inc. (ASTE) Will Post Earnings of $0.42 Per Share

Wall Street brokerages expect that Astec Industries, Inc. (NASDAQ:ASTE) will announce $0.42 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Astec Industries’ earnings. The lowest EPS estimate is $0.40 and the highest is $0.44. Astec Industries posted earnings per share of $1.03 during the same quarter last year, which would indicate a negative year over year growth rate of 59.2%. The company is scheduled to announce its next earnings report on Tuesday, July 23rd.

According to Zacks, analysts expect that Astec Industries will report full year earnings of $2.34 per share for the current year, with EPS estimates ranging from $2.22 to $2.45. For the next financial year, analysts anticipate that the business will report earnings of $2.73 per share, with EPS estimates ranging from $2.25 to $3.00. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Astec Industries.

Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.19). The business had revenue of $325.78 million during the quarter, compared to analysts’ expectations of $338.68 million. Astec Industries had a positive return on equity of 9.53% and a negative net margin of 5.67%. Astec Industries’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 EPS.

Several research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Astec Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 24th. Robert W. Baird upped their target price on shares of Astec Industries from $37.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Finally, ValuEngine upgraded shares of Astec Industries from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $52.00.

Shares of ASTE opened at $30.01 on Friday. The stock has a market capitalization of $662.63 million, a price-to-earnings ratio of 10.28 and a beta of 1.44. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.10 and a current ratio of 3.02. Astec Industries has a fifty-two week low of $27.86 and a fifty-two week high of $63.69.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Tuesday, May 14th were paid a $0.11 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.44 annualized dividend and a dividend yield of 1.47%. Astec Industries’s dividend payout ratio is presently 15.07%.

In other news, insider Jaco Van Der Merwe bought 2,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were purchased at an average price of $32.75 per share, for a total transaction of $65,500.00. Following the completion of the purchase, the insider now owns 4,579 shares in the company, valued at approximately $149,962.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Covington Capital Management bought a new position in shares of Astec Industries in the fourth quarter worth approximately $32,000. Coastal Investment Advisors Inc. bought a new position in Astec Industries during the first quarter valued at approximately $36,000. PNC Financial Services Group Inc. lifted its position in Astec Industries by 29.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,737 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 391 shares during the period. Bessemer Group Inc. bought a new position in Astec Industries during the fourth quarter valued at approximately $54,000. Finally, Quantamental Technologies LLC bought a new position in Astec Industries during the fourth quarter valued at approximately $59,000. Hedge funds and other institutional investors own 92.93% of the company’s stock.

Astec Industries Company Profile

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's Infrastructure Group segment provides hot-mix asphalt plants, wood pellet plants, asphalt pavers, material transfer vehicles, soil stabilizing reclaiming machinery, milling machines, paver screeds, and related ancillary equipment.

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