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.
Featured Article: What impact do institutional investors have on markets?
Get a free copy of the Zacks research report on Astec Industries (ASTE)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
7 Great Biotech Stocks That Don’t Depend on a Coronavirus Cure
Biotech stocks are some of the most volatile for investors to include in their portfolio. And that volatility can be hard to predict. Biotech companies don’t have a firm correlation with the overall economy. And what can add to the challenge is that many of these companies are small-cap companies that are not well-known names.
These small biotech stocks may shoot higher based on a vaccine or drug candidate that gets national attention. But these small-cap stock also reflect the adage of letting the buyer beware. Because the stark reality for many investors is that the vast majority of these treatments never make it past clinical trials. And that means that a stock that goes up rapidly can move down just as fast.
We’re seeing that right now with the multitude of companies that are competing in the race towards a vaccine and/or treatment for Covid-19 and the novel coronavirus that causes the disease. And if you’ve been good at timing the market, you could have made some good money on some of these candidates.
Of course, if you held the stock too long, you could have lost your shirt as well.
That doesn’t mean however that buy and hold investors should avoid the biotech sector altogether. There are still some attractively priced small-cap biotech companies that are working on treatments for a range of conditions that provide them with a large addressable base. And we’ve identified seven of these stocks in this special presentation.
View the "7 Great Biotech Stocks That Don’t Depend on a Coronavirus Cure".