Zacks: Analysts Expect Astec Industries, Inc. (ASTE) Will Post Quarterly Sales of $264.67 Million

Brokerages expect Astec Industries, Inc. (NASDAQ:ASTE) to report sales of $264.67 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Astec Industries’ earnings. The highest sales estimate is $282.10 million and the lowest is $254.20 million. Astec Industries reported sales of $247.75 million in the same quarter last year, which would suggest a positive year over year growth rate of 6.8%. The business is expected to report its next quarterly earnings report on Tuesday, October 24th.

On average, analysts expect that Astec Industries will report full-year sales of $264.67 million for the current fiscal year, with estimates ranging from $1.18 billion to $1.21 billion. For the next year, analysts anticipate that the company will report sales of $1.34 billion per share, with estimates ranging from $1.29 billion to $1.45 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow 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 for the quarter, missing analysts’ consensus estimates of $0.80 by $0.18. Astec Industries had a return on equity of 7.40% and a net margin of 4.08%. The business had revenue of $301.90 million for the quarter, compared to analysts’ expectations of $314.31 million. During the same period in the prior year, the company earned $0.79 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year.

Several equities analysts have weighed in on the stock. BidaskClub cut shares of Astec Industries from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st. Dougherty & Co cut shares of Astec Industries from a “buy” rating to a “neutral” rating and set a $85.00 price objective on the stock. in a research report on Wednesday.

Shares of Astec Industries (NASDAQ:ASTE) traded down 3.64% on Wednesday, hitting $50.07. The company’s stock had a trading volume of 165,964 shares. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 23.83 and a beta of 1.11. The stock’s 50 day moving average is $55.37 and its 200-day moving average is $61.20. Astec Industries has a 52 week low of $47.34 and a 52 week high of $73.37.

A number of institutional investors have recently bought and sold shares of the company. NJ State Employees Deferred Compensation Plan purchased a new position in Astec Industries during the first quarter valued at $615,000. State of New Jersey Common Pension Fund D boosted its position in 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 valued at $83,018,000 after buying an additional 140,000 shares during the last quarter. State of Alaska Department of Revenue boosted its position in 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 valued at $129,000 after buying an additional 40 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in 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 valued at $480,000 after buying an additional 100 shares during the last quarter. Finally, Copper Rock Capital Partners LLC purchased a new position in Astec Industries during the first quarter valued at $23,007,000. Hedge funds and other institutional investors own 79.42% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Zacks: Analysts Expect Astec Industries, Inc. (ASTE) Will Post Quarterly Sales of $264.67 Million” was posted by BBNS and is the property of of BBNS. If you are viewing this article on another website, it was stolen and republished in violation of US & international copyright and trademark laws. The original version of this article can be read at https://baseballnewssource.com/markets/zacks-analysts-expect-astec-industries-inc-aste-will-post-quarterly-sales-of-264-67-million-updated/1313907.html.

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 our FREE daily email newsletter.

 


Latest News

Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Bryce Harper Latest Star to Suffer Injury
Bryce Harper Latest Star to Suffer Injury
Chicago Cubs Must Survive Without Willson Contreras
Chicago Cubs Must Survive Without Willson Contreras
Cleveland Indians Acquire Jay Bruce From New York Mets
Cleveland Indians Acquire Jay Bruce From New York Mets
Injury to CC Sabathia Adds to Yankees’ Concerns
Injury to CC Sabathia Adds to Yankees’ Concerns
Darren Daulton Former Catcher with Phillies Dies
Darren Daulton Former Catcher with Phillies Dies


Leave a Reply

 
© 2006-2017 BBNS.