Analysts forecast that Astec Industries, Inc. (NASDAQ:ASTE) will report earnings of $0.57 per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Astec Industries’ earnings, with the highest EPS estimate coming in at $0.76 and the lowest estimate coming in at $0.45. Astec Industries reported earnings of ($0.12) per share in the same quarter last year, which would indicate a positive year over year growth rate of 575%. The firm is expected to issue its next earnings results on Tuesday, October 23rd.

According to Zacks, analysts expect that Astec Industries will report full year earnings of $3.30 per share for the current fiscal year, with EPS estimates ranging from $3.10 to $3.52. For the next fiscal year, analysts anticipate that the company will report earnings of $3.73 per share, with EPS estimates ranging from $3.30 to $3.93. Zacks’ EPS averages are an average based on a survey of analysts that follow Astec Industries.

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

Several research analysts have issued reports on the stock. TheStreet lowered shares of Astec Industries from a “b” rating to a “c+” rating in a research report on Wednesday, July 25th. BidaskClub upgraded shares of Astec Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, May 9th. ValuEngine upgraded shares of Astec Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, May 9th. Robert W. Baird lowered shares of Astec Industries from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $64.00 to $53.00 in a research report on Tuesday, July 24th. Finally, Stifel Nicolaus decreased their price target on shares of Astec Industries from $67.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, April 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $64.00.

A number of institutional investors have recently bought and sold shares of ASTE. Millennium Management LLC boosted its stake in Astec Industries by 402.1% in the 4th quarter. Millennium Management LLC now owns 65,565 shares of the industrial products company’s stock worth $3,836,000 after purchasing an additional 52,508 shares during the period. Global X Management Co. LLC boosted its stake in Astec Industries by 316.7% in the 1st quarter. Global X Management Co. LLC now owns 4,667 shares of the industrial products company’s stock worth $258,000 after purchasing an additional 3,547 shares during the period. Wells Fargo & Company MN boosted its stake in Astec Industries by 94.0% in the 1st quarter. Wells Fargo & Company MN now owns 110,491 shares of the industrial products company’s stock worth $6,097,000 after purchasing an additional 53,551 shares during the period. SG Americas Securities LLC boosted its stake in Astec Industries by 19.7% in the 1st quarter. SG Americas Securities LLC now owns 9,055 shares of the industrial products company’s stock worth $500,000 after purchasing an additional 1,491 shares during the period. Finally, Swiss National Bank boosted its stake in Astec Industries by 4.9% in the 1st quarter. Swiss National Bank now owns 34,200 shares of the industrial products company’s stock worth $1,887,000 after purchasing an additional 1,600 shares during the period. 90.86% of the stock is owned by hedge funds and other institutional investors.

Astec Industries stock opened at $46.74 on Friday. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 29.58, a price-to-earnings-growth ratio of 1.40 and a beta of 1.04. Astec Industries has a 1 year low of $44.92 and a 1 year high of $64.80.

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

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 30th. Investors of record on Monday, August 13th will be paid a $0.11 dividend. This is a positive change from Astec Industries’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, August 10th. This represents a $0.44 dividend on an annualized basis and a yield of 0.94%. Astec Industries’s dividend payout ratio (DPR) is currently 27.85%.

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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