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

According to Zacks, analysts expect that Astec Industries will report full-year earnings of $3.22 per share for the current year, with EPS estimates ranging from $3.10 to $3.32. For the next year, analysts anticipate that the business will report earnings of $3.67 per share, with EPS estimates ranging from $3.30 to $3.90. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Astec Industries.

Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings results on Tuesday, July 24th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.12. The company had revenue of $347.00 million for the quarter, compared to analysts’ expectations of $332.65 million. Astec Industries had a negative net margin of 1.05% and a positive return on equity of 7.55%. Astec Industries’s 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 EPS.

A number of equities analysts recently issued reports 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 upgraded shares of Astec Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. BidaskClub upgraded shares of Astec Industries from a “hold” rating to a “buy” rating in a research note on Thursday, June 28th. Stifel Nicolaus dropped their price target on shares of Astec Industries from $65.00 to $63.00 and set a “buy” rating on the stock 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 dropped their price target for the stock from $64.00 to $53.00 in a research note on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Astec Industries currently has a consensus rating of “Hold” and a consensus price target of $64.00.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in Astec Industries by 10.0% during the 2nd quarter. BlackRock Inc. now owns 2,786,449 shares of the industrial products company’s stock valued at $166,631,000 after acquiring an additional 253,730 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Astec Industries by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,726,292 shares of the industrial products company’s stock worth $103,232,000 after purchasing an additional 48,784 shares during the period. Marcato Capital Management LP bought a new position in shares of Astec Industries in the 1st quarter worth approximately $29,016,000. Royce & Associates LP lifted its stake in shares of Astec Industries by 15.1% in the 2nd quarter. Royce & Associates LP now owns 360,648 shares of the industrial products company’s stock worth $21,567,000 after purchasing an additional 47,300 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Astec Industries by 6.9% in the 2nd quarter. Northern Trust Corp now owns 312,155 shares of the industrial products company’s stock worth $18,667,000 after purchasing an additional 20,091 shares during the period. Institutional investors and hedge funds own 92.27% of the company’s stock.

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

Astec Industries declared that its board has initiated a stock buyback plan on Monday, July 30th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 13.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

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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