Astec Industries (NASDAQ:ASTE) Announces Earnings Results, Misses Estimates By $0.11 EPS

Astec Industries (NASDAQ:ASTE) posted its earnings results on Wednesday. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.11), Briefing.com reports. Astec Industries had a return on equity of 7.44% and a net margin of 1.91%. The company had revenue of $345.50 million for the quarter, compared to analysts’ expectations of $332.35 million. During the same quarter in the prior year, the company earned $0.87 EPS. The company’s revenue was down 1.3% on a year-over-year basis.

Astec Industries Price Performance

Astec Industries stock traded up $0.04 during midday trading on Friday, hitting $31.78. 93,614 shares of the company’s stock were exchanged, compared to its average volume of 152,059. The company has a market cap of $723.47 million, a P/E ratio of 29.16 and a beta of 1.30. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.95 and a current ratio of 2.51. The stock has a 50-day moving average price of $31.47 and a two-hundred day moving average price of $35.85. Astec Industries has a 52-week low of $28.46 and a 52-week high of $56.33.

Astec Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 12th will be given a $0.13 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.64%. Astec Industries’s dividend payout ratio (DPR) is presently 47.71%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Stifel Nicolaus downgraded Astec Industries from a “buy” rating to a “hold” rating and cut their target price for the stock from $47.00 to $37.00 in a research note on Thursday, May 2nd. StockNews.com cut shares of Astec Industries from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd.

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.