Zacks: Analysts Anticipate Astec Industries, Inc. (ASTE) to Post $0.58 Earnings Per Share

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Equities research analysts expect Astec Industries, Inc. (NASDAQ:ASTE) to post earnings of $0.58 per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Astec Industries’ earnings, with the lowest EPS estimate coming in at $0.48 and the highest estimate coming in at $0.66. Astec Industries posted earnings of ($0.12) per share in the same quarter last year, which would indicate a positive year over year growth rate of 583.3%. The business is expected to issue its next earnings results on Tuesday, October 23rd.

On average, analysts expect that Astec Industries will report full year earnings of $3.22 per share for the current fiscal year, with EPS estimates ranging from $3.10 to $3.32. For the next financial year, analysts forecast that the business will post earnings of $3.67 per share, with EPS estimates ranging from $3.30 to $3.90. Zacks’ EPS averages are an average based on a survey of research analysts that follow Astec Industries.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings results on Tuesday, July 24th. The industrial products company reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.12. Astec Industries had a negative net margin of 1.05% and a positive return on equity of 7.55%. The business had revenue of $347.00 million during the quarter, compared to analysts’ expectations of $332.65 million. During the same quarter in the previous year, the company earned $0.62 EPS. The business’s quarterly revenue was up 16.5% compared to the same quarter last year.

A number of equities analysts have commented on ASTE shares. ValuEngine cut shares of Astec Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Zacks Investment Research raised shares of Astec Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. BidaskClub raised shares of Astec Industries from a “hold” rating to a “buy” rating in a research note on Thursday, June 28th. Stifel Nicolaus cut their price target on shares of Astec Industries from $65.00 to $63.00 and set a “buy” rating for the company in a research note on Wednesday, July 25th. Finally, Robert W. Baird cut shares of Astec Industries from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $64.00 to $53.00 in a research note on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Astec Industries currently has an average rating of “Hold” and a consensus price target of $64.00.

ASTE stock traded down $1.10 during midday trading on Monday, reaching $48.28. The company had a trading volume of 274,016 shares, compared to its average volume of 150,748. Astec Industries has a 1 year low of $44.92 and a 1 year high of $64.80. The stock has a market cap of $1.16 billion, a PE ratio of 30.56 and a beta of 1.03.

Astec Industries declared that its board has approved a share buyback program on Monday, July 30th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the industrial products company to buy up to 13.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

A number of hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank bought a new stake in shares of Astec Industries in the 2nd quarter worth approximately $209,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Astec Industries in the 1st quarter worth approximately $219,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Astec Industries in the 2nd quarter worth approximately $242,000. Xact Kapitalforvaltning AB bought a new stake in shares of Astec Industries in the 1st quarter worth approximately $257,000. Finally, Blair William & Co. IL bought a new stake in shares of Astec Industries in the 1st quarter worth approximately $260,000. 92.27% of the stock is owned by institutional investors and hedge funds.

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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