Astec Industries, Inc. (NASDAQ:ASTE) Expected to Post Quarterly Sales of $268.37 Million

Wall Street brokerages expect Astec Industries, Inc. (NASDAQ:ASTE) to post sales of $268.37 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Astec Industries’ earnings, with estimates ranging from $259.04 million to $277.70 million. Astec Industries posted sales of $231.40 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 16%. The company is scheduled to report its next earnings report on Wednesday, November 3rd.

According to Zacks, analysts expect that Astec Industries will report full-year sales of $1.12 billion for the current financial year, with estimates ranging from $1.10 billion to $1.14 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.23 billion, with estimates ranging from $1.22 billion to $1.24 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Astec Industries.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings data on Tuesday, August 3rd. The industrial products company reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. Astec Industries had a return on equity of 5.89% and a net margin of 3.36%. The business had revenue of $278.00 million during the quarter, compared to analysts’ expectations of $304.04 million. During the same quarter last year, the business posted $0.67 EPS. The business’s revenue was up 4.8% on a year-over-year basis.

Separately, Zacks Investment Research raised Astec Industries from a “strong sell” rating to a “hold” rating and set a $58.00 target price for the company in a report on Tuesday, October 5th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $73.75.

Hedge funds have recently modified their holdings of the company. Eaton Vance Management bought a new stake in shares of Astec Industries in the first quarter worth about $43,000. Sound Income Strategies LLC bought a new stake in shares of Astec Industries in the second quarter worth about $39,000. FORA Capital LLC bought a new stake in shares of Astec Industries in the first quarter worth about $70,000. Rockefeller Capital Management L.P. bought a new stake in shares of Astec Industries in the second quarter worth about $59,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Astec Industries in the first quarter worth about $75,000. 92.18% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Astec Industries stock traded down $1.05 on Wednesday, reaching $50.61. The company’s stock had a trading volume of 77,174 shares, compared to its average volume of 118,005. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 33.52 and a beta of 1.35. The firm’s fifty day simple moving average is $57.48 and its two-hundred day simple moving average is $63.96. Astec Industries has a 52 week low of $48.41 and a 52 week high of $80.00.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 31st. Shareholders of record on Wednesday, August 11th were issued a dividend of $0.11 per share. The ex-dividend date was Tuesday, August 10th. This represents a $0.44 dividend on an annualized basis and a yield of 0.87%. Astec Industries’s dividend payout ratio is presently 18.49%.

About Astec Industries

Astec Industries, Inc engages in the manufacturing of equipment and components for the infrastructure, and aggregate and mining industries. It operates through the following segments: Infrastructure Solutions, Material Solutions, and Corporate. The Infrastructure Solutions segment markets line of asphalt plants and related components, asphalt pavers, screeds, milling machines, material transfer vehicles, stabilizers, and related ancillary equipment.

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