Brokerages Expect Astec Industries, Inc. (ASTE) Will Post Earnings of $0.57 Per Share

Equities analysts forecast that Astec Industries, Inc. (NASDAQ:ASTE) will post earnings of $0.57 per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Astec Industries’ earnings. The highest EPS estimate is $0.64 and the lowest is $0.48. Astec Industries posted earnings of $0.42 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 35.7%. The company is scheduled to report its next earnings report on Tuesday, February 19th.

On average, analysts expect that Astec Industries will report full year earnings of $2.78 per share for the current year, with EPS estimates ranging from $2.70 to $2.85. For the next fiscal year, analysts forecast that the business will post earnings of $3.08 per share, with EPS estimates ranging from $2.95 to $3.29. Zacks’ EPS calculations are a mean average based on a survey of research 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 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.29). The business had revenue of $256.60 million during the quarter, compared to analyst estimates of $276.80 million. Astec Industries had a positive return on equity of 9.06% and a negative net margin of 0.21%. Astec Industries’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.12) EPS.

A number of equities research analysts recently commented on the company. BidaskClub downgraded Astec Industries from a “buy” rating to a “hold” rating in a report on Friday, July 13th. Robert W. Baird downgraded Astec Industries from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $64.00 to $53.00 in a report on Tuesday, July 24th. ValuEngine downgraded Astec Industries from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Stifel Nicolaus downgraded Astec Industries from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, TheStreet downgraded Astec Industries from a “b” rating to a “c+” rating in a report on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $64.00.

Several hedge funds have recently bought and sold shares of ASTE. California Public Employees Retirement System boosted its position in shares of Astec Industries by 15.1% during the first quarter. California Public Employees Retirement System now owns 35,579 shares of the industrial products company’s stock worth $1,963,000 after buying an additional 4,681 shares during the period. Principal Financial Group Inc. boosted its position in Astec Industries by 2.4% during the first quarter. Principal Financial Group Inc. now owns 146,780 shares of the industrial products company’s stock valued at $8,099,000 after purchasing an additional 3,501 shares during the last quarter. Guggenheim Capital LLC acquired a new position in Astec Industries during the first quarter valued at approximately $2,023,000. Cubist Systematic Strategies LLC acquired a new position in Astec Industries during the first quarter valued at approximately $383,000. Finally, Xact Kapitalforvaltning AB acquired a new position in Astec Industries during the first quarter valued at approximately $257,000. 91.60% of the stock is owned by institutional investors.

NASDAQ ASTE traded down $0.30 on Thursday, reaching $39.70. The company had a trading volume of 299,889 shares, compared to its average volume of 362,482. The company has a market capitalization of $916.83 million, a PE ratio of 25.13 and a beta of 1.39. The company has a current ratio of 3.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.04. Astec Industries has a 52 week low of $32.51 and a 52 week high of $64.80.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Tuesday, November 13th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, November 9th. This represents a $0.44 annualized dividend and a dividend yield of 1.11%. Astec Industries’s dividend payout ratio (DPR) is currently 27.85%.

Astec Industries declared that its board has authorized a stock repurchase program on Monday, July 30th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the industrial products company to repurchase up to 13.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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

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