Equities research analysts expect Astec Industries, Inc. (NASDAQ:ASTE) to report sales of $342.52 million for the current quarter, Zacks reports. Four analysts have issued estimates for Astec Industries’ earnings, with the highest sales estimate coming in at $362.00 million and the lowest estimate coming in at $329.60 million. Astec Industries posted sales of $318.40 million in the same quarter last year, which suggests a positive year-over-year growth rate of 7.6%. The business is scheduled to issue its next quarterly earnings results on Tuesday, April 24th.
According to Zacks, analysts expect that Astec Industries will report full year sales of $342.52 million for the current financial year, with estimates ranging from $1.25 billion to $1.37 billion. For the next year, analysts anticipate that the business will post sales of $1.39 billion per share, with estimates ranging from $1.33 billion to $1.49 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Astec Industries.
Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Tuesday, February 20th. The industrial products company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.03). Astec Industries had a net margin of 3.19% and a return on equity of 5.43%. The business had revenue of $312.38 million during the quarter, compared to analysts’ expectations of $288.14 million. During the same period in the previous year, the company posted $0.53 earnings per share. Astec Industries’s revenue for the quarter was down 4.3% compared to the same quarter last year.
Hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. boosted its stake in shares of Astec Industries by 11.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,870 shares of the industrial products company’s stock worth $104,000 after acquiring an additional 198 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Astec Industries by 87.5% during the 3rd quarter. Victory Capital Management Inc. now owns 3,633 shares of the industrial products company’s stock worth $203,000 after acquiring an additional 1,695 shares in the last quarter. Boothbay Fund Management LLC purchased a new stake in shares of Astec Industries during the 3rd quarter worth about $305,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Astec Industries during the 3rd quarter worth about $307,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of Astec Industries during the 4th quarter worth about $365,000. 82.27% of the stock is currently owned by institutional investors and hedge funds.
Shares of Astec Industries (NASDAQ ASTE) opened at $60.92 on Wednesday. Astec Industries has a 1-year low of $45.70 and a 1-year high of $66.66. The company has a market cap of $1,424.33, a price-to-earnings ratio of 39.33, a price-to-earnings-growth ratio of 1.84 and a beta of 1.06.
ILLEGAL ACTIVITY WARNING: “Analysts Anticipate Astec Industries, Inc. (ASTE) Will Announce Quarterly Sales of $342.52 Million” was originally posted by Ticker Report and is owned by of Ticker Report. If you are viewing this report on another publication, it was stolen and republished in violation of U.S. and international trademark & copyright laws. The correct version of this report can be read at https://www.tickerreport.com/banking-finance/3227355/analysts-anticipate-astec-industries-inc-aste-will-announce-quarterly-sales-of-342-52-million.html.
About Astec Industries
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Astec Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astec Industries and related companies with MarketBeat.com's FREE daily email newsletter.