Analysts Anticipate Astec Industries, Inc. (ASTE) Will Announce Quarterly Sales of $266.37 Million

Equities analysts forecast that Astec Industries, Inc. (NASDAQ:ASTE) will announce $266.37 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Astec Industries’ earnings. The highest sales estimate is $275.10 million and the lowest is $257.66 million. Astec Industries posted sales of $247.75 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.5%. The business is scheduled to announce its next quarterly earnings report on Tuesday, October 24th.

According to Zacks, analysts expect that Astec Industries will report full-year sales of $266.37 million for the current fiscal year, with estimates ranging from $1.20 billion to $1.25 billion. For the next financial year, analysts anticipate that the company will post sales of $1.37 billion per share, with estimates ranging from $1.30 billion to $1.48 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Astec Industries.

Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by $0.18. The business had revenue of $301.90 million during the quarter, compared to the consensus estimate of $314.31 million. Astec Industries had a return on equity of 8.09% and a net margin of 4.43%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 earnings per share.

A number of equities analysts have commented on the stock. Dougherty & Co downgraded shares of Astec Industries from a “buy” rating to a “neutral” rating in a report on Wednesday. BidaskClub downgraded shares of Astec Industries from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Astec Industries currently has an average rating of “Hold” and a consensus target price of $72.25.

COPYRIGHT VIOLATION WARNING: This piece of content was first posted by BNB Daily and is the property of of BNB Daily. If you are viewing this piece of content on another website, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The correct version of this piece of content can be viewed at https://www.baseball-news-blog.com/2017/08/13/analysts-anticipate-astec-industries-inc-aste-will-announce-quarterly-sales-of-266-37-million-updated-updated.html.

Shares of Astec Industries (ASTE) traded down 1.51% on Wednesday, hitting $50.15. 73,502 shares of the company traded hands. The firm has a market capitalization of $1.16 billion, a P/E ratio of 22.19 and a beta of 1.11. Astec Industries has a 1-year low of $49.97 and a 1-year high of $73.37. The firm’s 50-day moving average is $56.05 and its 200 day moving average is $61.60.

Institutional investors have recently bought and sold shares of the stock. NJ State Employees Deferred Compensation Plan bought a new position in Astec Industries during the first quarter valued at about $615,000. State of New Jersey Common Pension Fund D raised its stake in shares of Astec Industries by 11.6% in the first quarter. State of New Jersey Common Pension Fund D now owns 1,350,000 shares of the industrial products company’s stock worth $83,018,000 after buying an additional 140,000 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Astec Industries by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,110 shares of the industrial products company’s stock worth $129,000 after buying an additional 40 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Astec Industries by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 7,800 shares of the industrial products company’s stock worth $480,000 after buying an additional 100 shares in the last quarter. Finally, Copper Rock Capital Partners LLC purchased a new stake in shares of Astec Industries during the first quarter worth approximately $23,007,000. Hedge funds and other institutional investors own 79.42% of the company’s stock.

Astec Industries Company Profile

Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.

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

Earnings History and Estimates for Astec Industries (NASDAQ:ASTE)

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

Latest News

Leave a Reply