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Zacks: Analysts Expect Astec Industries, Inc. (NASDAQ:ASTE) Will Announce Quarterly Sales of $227.99 Million

Last updated on Friday, September 18, 2020 | 2020 MarketBeat

Analysts forecast that Astec Industries, Inc. (NASDAQ:ASTE) will report sales of $227.99 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Astec Industries' earnings. The lowest sales estimate is $205.30 million and the highest is $248.07 million. Astec Industries reported sales of $255.81 million in the same quarter last year, which indicates a negative year over year growth rate of 10.9%. The company is scheduled to announce its next quarterly earnings report on Tuesday, November 3rd.

On average, analysts expect that Astec Industries will report full-year sales of $1.05 billion for the current financial year, with estimates ranging from $1.01 billion to $1.10 billion. For the next fiscal year, analysts expect that the company will report sales of $1.15 billion, with estimates ranging from $1.11 billion to $1.18 billion. Zacks Investment Research's sales calculations are an average based on a survey of analysts that that provide coverage for Astec Industries.

Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.62. Astec Industries had a return on equity of 8.15% and a net margin of 1.34%. The firm had revenue of $265.30 million for the quarter, compared to the consensus estimate of $228.98 million. Astec Industries's revenue was down 13.0% on a year-over-year basis.

Separately, BidaskClub downgraded Astec Industries from a "buy" rating to a "hold" rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Astec Industries has a consensus rating of "Hold" and an average target price of $42.50.

Shares of NASDAQ ASTE opened at $53.68 on Friday. The business's 50 day moving average price is $51.99 and its 200-day moving average price is $43.01. Astec Industries has a fifty-two week low of $25.17 and a fifty-two week high of $63.74. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 83.88 and a beta of 1.31.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Monday, August 31st were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date was Friday, August 28th. Astec Industries's dividend payout ratio (DPR) is presently 28.39%.

Several hedge funds have recently added to or reduced their stakes in ASTE. Comerica Bank lifted its position in shares of Astec Industries by 3.4% during the first quarter. Comerica Bank now owns 21,930 shares of the industrial products company's stock valued at $790,000 after buying an additional 717 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Astec Industries by 62.7% during the first quarter. SG Americas Securities LLC now owns 7,469 shares of the industrial products company's stock valued at $261,000 after buying an additional 2,878 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Astec Industries by 5.5% during the first quarter. Rhumbline Advisers now owns 82,674 shares of the industrial products company's stock valued at $2,891,000 after buying an additional 4,303 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Astec Industries by 30.8% during the first quarter. Russell Investments Group Ltd. now owns 86,600 shares of the industrial products company's stock valued at $3,023,000 after buying an additional 20,409 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of Astec Industries by 1.5% during the first quarter. Swiss National Bank now owns 41,500 shares of the industrial products company's stock valued at $1,451,000 after buying an additional 600 shares during the last quarter. 94.38% of the stock is owned by institutional investors and hedge funds.

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's Infrastructure Group segment provides hot-mix asphalt plants, wood pellet plants, asphalt pavers, material transfer vehicles, soil stabilizing reclaiming machinery, milling machines, paver screeds, and related ancillary equipment.

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