Astec Industries, Inc. (ASTE) Expected to Post Quarterly Sales of $330.82 Million

Equities analysts expect that Astec Industries, Inc. (NASDAQ:ASTE) will announce $330.82 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Astec Industries’ earnings. The lowest sales estimate is $327.17 million and the highest is $333.30 million. Astec Industries reported sales of $301.91 million during the same quarter last year, which would suggest a positive year over year growth rate of 9.6%. The company is expected to announce its next earnings report on Tuesday, July 24th.

According to Zacks, analysts expect that Astec Industries will report full-year sales of $1.34 billion for the current financial year, with estimates ranging from $1.32 billion to $1.34 billion. For the next financial year, analysts forecast that the firm will post sales of $1.36 billion per share, with estimates ranging from $1.35 billion to $1.39 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Astec Industries.

Astec Industries (NASDAQ:ASTE) last issued its earnings results on Tuesday, April 24th. The industrial products company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.01. The firm had revenue of $325.50 million during the quarter, compared to analysts’ expectations of $336.32 million. Astec Industries had a net margin of 3.60% and a return on equity of 6.09%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share.

A number of analysts recently weighed in on ASTE shares. Robert W. Baird restated a “buy” rating and set a $64.00 target price on shares of Astec Industries in a report on Friday, April 13th. Dougherty & Co upgraded shares of Astec Industries from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a report on Wednesday, February 21st. ValuEngine upgraded shares of Astec Industries from a “sell” rating to a “hold” rating in a report on Wednesday, May 9th. BidaskClub cut shares of Astec Industries from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Finally, Stifel Nicolaus reduced their target price on shares of Astec Industries from $67.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, April 25th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $67.25.

NASDAQ:ASTE traded down $0.20 during trading hours on Monday, reaching $60.12. 88,000 shares of the company’s stock were exchanged, compared to its average volume of 137,686. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 38.03, a PEG ratio of 1.77 and a beta of 1.14. Astec Industries has a 12 month low of $45.70 and a 12 month high of $64.80.

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 30th. Investors of record on Monday, May 14th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 11th. This represents a $0.40 annualized dividend and a dividend yield of 0.67%. Astec Industries’s dividend payout ratio (DPR) is presently 25.32%.

In related news, CEO Benjamin G. Brock sold 22,439 shares of the company’s stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $54.71, for a total value of $1,227,637.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of ASTE. Franklin Resources Inc. lifted its position in shares of Astec Industries by 69.7% in the 1st quarter. Franklin Resources Inc. now owns 1,778,353 shares of the industrial products company’s stock valued at $98,129,000 after acquiring an additional 730,594 shares in the last quarter. Marcato Capital Management LP purchased a new stake in shares of Astec Industries in the 1st quarter valued at approximately $29,016,000. Penn Capital Management Co. Inc. purchased a new stake in shares of Astec Industries in the 4th quarter valued at approximately $13,684,000. Ceredex Value Advisors LLC purchased a new stake in shares of Astec Industries in the 1st quarter valued at approximately $6,428,000. Finally, Cortina Asset Management LLC purchased a new stake in shares of Astec Industries in the 4th quarter valued at approximately $5,938,000. Institutional investors and hedge funds own 88.82% 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 operates through Infrastructure Group, Aggregate and Mining Group, and Energy Group segments.

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Earnings History and Estimates for Astec Industries (NASDAQ:ASTE)

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