Astec Industries (NASDAQ:ASTE) Announces Earnings Results, Beats Expectations By $0.46 EPS

Astec Industries (NASDAQ:ASTE) posted its earnings results on Wednesday. The industrial products company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.46, Zacks reports. The business had revenue of $359.00 million during the quarter, compared to the consensus estimate of $374.10 million. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%.

Astec Industries Price Performance

Astec Industries stock traded up $0.18 during trading hours on Friday, hitting $36.03. The stock had a trading volume of 6,198 shares, compared to its average volume of 191,862. The stock has a market capitalization of $821.62 million, a price-to-earnings ratio of -451.46 and a beta of 1.31. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.47 and a quick ratio of 0.91. Astec Industries has a 1-year low of $28.46 and a 1-year high of $44.74. The stock’s fifty day moving average is $33.46 and its two-hundred day moving average is $33.67.

Astec Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $0.13 per share. The ex-dividend date is Monday, March 10th. This represents a $0.52 dividend on an annualized basis and a yield of 1.44%. Astec Industries’s payout ratio is -650.00%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Robert W. Baird boosted their price objective on Astec Industries from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday. StockNews.com upgraded Astec Industries from a “hold” rating to a “strong-buy” rating in a research report on Friday.

About Astec Industries

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.