Q1 2024 EPS Estimates for Astec Industries, Inc. Increased by Analyst (NASDAQ:ASTE)

Astec Industries, Inc. (NASDAQ:ASTEFree Report) – Zacks Research boosted their Q1 2024 earnings per share (EPS) estimates for Astec Industries in a report issued on Wednesday, March 20th. Zacks Research analyst S. Deb now expects that the industrial products company will post earnings per share of $0.91 for the quarter, up from their prior estimate of $0.90. The consensus estimate for Astec Industries’ current full-year earnings is $2.90 per share. Zacks Research also issued estimates for Astec Industries’ Q2 2024 earnings at $0.79 EPS, Q3 2024 earnings at $0.33 EPS, Q4 2024 earnings at $0.84 EPS, FY2024 earnings at $2.87 EPS, Q1 2025 earnings at $0.89 EPS, Q2 2025 earnings at $0.85 EPS, Q4 2025 earnings at $0.85 EPS, FY2025 earnings at $3.11 EPS and FY2026 earnings at $3.49 EPS.

ASTE has been the topic of several other reports. Stifel Nicolaus upped their price objective on shares of Astec Industries from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th. StockNews.com upgraded Astec Industries from a “hold” rating to a “buy” rating in a research report on Monday, March 11th.

Get Our Latest Stock Report on ASTE

Astec Industries Stock Performance

NASDAQ ASTE opened at $41.40 on Thursday. The stock has a market cap of $941.44 million, a PE ratio of 28.16 and a beta of 1.38. Astec Industries has a twelve month low of $28.97 and a twelve month high of $56.33. The stock has a fifty day simple moving average of $36.90 and a 200-day simple moving average of $38.41. The company has a current ratio of 2.41, a quick ratio of 0.88 and a debt-to-equity ratio of 0.11.

Astec Industries (NASDAQ:ASTEGet Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.28. Astec Industries had a net margin of 2.50% and a return on equity of 9.46%. The firm had revenue of $337.20 million during the quarter, compared to analyst estimates of $332.33 million. During the same quarter in the prior year, the firm posted $0.34 earnings per share. Astec Industries’s quarterly revenue was down 3.6% on a year-over-year basis.

Hedge Funds Weigh In On Astec Industries

Several institutional investors have recently modified their holdings of ASTE. BlackRock Inc. raised its position in Astec Industries by 0.8% in the 2nd quarter. BlackRock Inc. now owns 4,242,561 shares of the industrial products company’s stock valued at $192,782,000 after purchasing an additional 33,618 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Astec Industries by 1.8% during the third quarter. Vanguard Group Inc. now owns 2,496,814 shares of the industrial products company’s stock worth $77,876,000 after purchasing an additional 44,174 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Astec Industries by 24.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,777,218 shares of the industrial products company’s stock valued at $72,262,000 after purchasing an additional 354,483 shares during the period. Dimensional Fund Advisors LP increased its position in Astec Industries by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,531,823 shares of the industrial products company’s stock worth $56,984,000 after buying an additional 29,657 shares during the period. Finally, Gamco Investors INC. ET AL increased its stake in Astec Industries by 8.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 1,131,271 shares of the industrial products company’s stock valued at $42,083,000 after purchasing an additional 86,969 shares during the period. Institutional investors and hedge funds own 90.82% of the company’s stock.

Astec Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 11th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, March 8th. This represents a $0.52 dividend on an annualized basis and a yield of 1.26%. Astec Industries’s dividend payout ratio (DPR) is presently 35.37%.

Astec Industries Company Profile

(Get Free Report)

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as engineering and environmental permitting services.

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

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