$314.98 Million in Sales Expected for Astec Industries, Inc. (ASTE) This Quarter

Share on StockTwits

Equities analysts expect Astec Industries, Inc. (NASDAQ:ASTE) to post $314.98 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Astec Industries’ earnings, with the highest sales estimate coming in at $320.95 million and the lowest estimate coming in at $311.90 million. Astec Industries posted sales of $312.38 million in the same quarter last year, which suggests a positive year-over-year growth rate of 0.8%. The business is expected to report its next quarterly earnings results on Tuesday, February 19th.

According to Zacks, analysts expect that Astec Industries will report full-year sales of $1.24 billion for the current year, with estimates ranging from $1.24 billion to $1.25 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.28 billion, with estimates ranging from $1.27 billion to $1.29 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Astec Industries.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.29). Astec Industries had a positive return on equity of 9.06% and a negative net margin of 0.21%. The business had revenue of $256.60 million for the quarter, compared to the consensus estimate of $276.80 million. During the same period in the prior year, the business posted ($0.12) earnings per share. Astec Industries’s revenue was up 1.8% compared to the same quarter last year.

Several equities analysts have commented on the stock. BidaskClub raised shares of Astec Industries from a “hold” rating to a “buy” rating in a report on Thursday. Zacks Investment Research raised shares of Astec Industries from a “sell” rating to a “hold” rating in a report on Monday, December 31st. Stifel Nicolaus lowered shares of Astec Industries from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. ValuEngine lowered shares of Astec Industries from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 23rd. Finally, William Blair lowered shares of Astec Industries from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Astec Industries currently has a consensus rating of “Hold” and an average price target of $62.00.

ASTE stock opened at $36.65 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.94 and a current ratio of 3.02. Astec Industries has a 12 month low of $27.86 and a 12 month high of $64.80. The stock has a market capitalization of $760.53 million, a price-to-earnings ratio of 23.20 and a beta of 1.38.

Hedge funds have recently added to or reduced their stakes in the business. Teachers Advisors LLC increased its stake in shares of Astec Industries by 2.3% in the 3rd quarter. Teachers Advisors LLC now owns 42,583 shares of the industrial products company’s stock valued at $2,147,000 after acquiring an additional 976 shares in the last quarter. Vanguard Group Inc increased its stake in shares of Astec Industries by 3.0% in the 3rd quarter. Vanguard Group Inc now owns 2,067,387 shares of the industrial products company’s stock valued at $104,217,000 after acquiring an additional 59,836 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Astec Industries by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,067,387 shares of the industrial products company’s stock valued at $104,217,000 after acquiring an additional 59,836 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Astec Industries by 26.6% in the 3rd quarter. Legal & General Group Plc now owns 54,148 shares of the industrial products company’s stock valued at $2,737,000 after acquiring an additional 11,362 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of Astec Industries by 19.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 15,739 shares of the industrial products company’s stock valued at $793,000 after acquiring an additional 2,594 shares in the last quarter. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

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.

Featured Story: Investing strategies using the yield curve

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

Receive News & Ratings for Astec Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astec Industries and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply