Posted by admin on May 13th, 2022
Brokerages expect Astec Industries, Inc. (NASDAQ:ASTE – Get Rating) to post earnings per share of $0.50 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Astec Industries’ earnings, with the highest EPS estimate coming in at $0.51 and the lowest estimate coming in at $0.49. Astec Industries reported earnings of $0.49 per share during the same quarter last year, which suggests a positive year over year growth rate of 2%. The firm is expected to announce its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Astec Industries will report full-year earnings of $1.84 per share for the current year, with EPS estimates ranging from $1.68 to $2.00. For the next fiscal year, analysts anticipate that the company will report earnings of $2.67 per share, with EPS estimates ranging from $2.50 to $2.83. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that cover Astec Industries.
Astec Industries (NASDAQ:ASTE – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The industrial products company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.30. The business had revenue of $291.20 million during the quarter, compared to the consensus estimate of $286.56 million. Astec Industries had a net margin of 1.20% and a return on equity of 4.74%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS.
Several analysts recently commented on the stock. StockNews.com downgraded shares of Astec Industries from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research downgraded shares of Astec Industries from a “hold” rating to a “strong sell” rating and set a $47.00 price target for the company. in a research report on Friday, February 18th. Finally, Robert W. Baird downgraded shares of Astec Industries from an “outperform” rating to a “neutral” rating and set a $40.00 price target for the company. in a research report on Friday, April 8th.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its position in Astec Industries by 4.6% during the 1st quarter. BlackRock Inc. now owns 4,042,268 shares of the industrial products company’s stock worth $173,816,000 after buying an additional 178,771 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Astec Industries by 8.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 802,481 shares of the industrial products company’s stock worth $55,588,000 after buying an additional 61,215 shares during the last quarter. State Street Corp raised its position in Astec Industries by 8.7% during the 4th quarter. State Street Corp now owns 773,849 shares of the industrial products company’s stock worth $53,605,000 after buying an additional 61,673 shares during the last quarter. Westwood Holdings Group Inc. raised its position in Astec Industries by 54.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 719,974 shares of the industrial products company’s stock worth $30,959,000 after buying an additional 252,798 shares during the last quarter. Finally, William Blair Investment Management LLC grew its stake in shares of Astec Industries by 48,177.8% during the 3rd quarter. William Blair Investment Management LLC now owns 497,261 shares of the industrial products company’s stock worth $26,758,000 after purchasing an additional 496,231 shares during the period. Institutional investors own 94.52% of the company’s stock.
Shares of NASDAQ:ASTE opened at $41.96 on Friday. The company has a market capitalization of $958.45 million, a PE ratio of 72.35 and a beta of 1.30. Astec Industries has a twelve month low of $36.31 and a twelve month high of $75.00. The firm has a 50 day simple moving average of $41.75 and a 200-day simple moving average of $56.07.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 27th. Shareholders of record on Friday, May 13th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $0.48 dividend on an annualized basis and a yield of 1.14%. Astec Industries’s payout ratio is currently 82.76%.
About Astec Industries (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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