Astec Industries, Inc. (NASDAQ:ASTE) Forecasted to Post Q2 2024 Earnings of $0.77 Per Share

Astec Industries, Inc. (NASDAQ:ASTE) – Equities research analysts at Zacks Research reduced their Q2 2024 earnings estimates for Astec Industries in a research note issued to investors on Thursday, March 28th. Zacks Research analyst S. Deb now expects that the industrial products company will post earnings of $0.77 per share for the quarter, down from their prior forecast of $0.79. The consensus estimate for Astec Industries’ current full-year earnings is $2.88 per share. Zacks Research also issued estimates for Astec Industries’ Q3 2024 earnings at $0.31 EPS, Q4 2024 earnings at $0.86 EPS, FY2024 earnings at $2.86 EPS, Q1 2025 earnings at $0.88 EPS, Q2 2025 earnings at $0.83 EPS, FY2025 earnings at $3.10 EPS and FY2026 earnings at $3.46 EPS.

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

A number of other research analysts also recently commented on the stock. Stifel Nicolaus increased their price objective on shares of Astec Industries from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. StockNews.com upgraded shares of Astec Industries from a “hold” rating to a “buy” rating in a research note on Monday, March 11th.

Astec Industries Price Performance

Astec Industries stock opened at $43.71 on Friday. Astec Industries has a 52-week low of $28.97 and a 52-week high of $56.33. The firm has a fifty day moving average of $38.15 and a 200-day moving average of $38.04. The firm has a market capitalization of $993.97 million, a P/E ratio of 29.73 and a beta of 1.38. The company has a quick ratio of 0.88, a current ratio of 2.41 and a debt-to-equity ratio of 0.11.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ASTE. BlackRock Inc. increased its holdings in shares of Astec Industries by 0.8% in the 2nd quarter. BlackRock Inc. now owns 4,242,561 shares of the industrial products company’s stock worth $192,782,000 after acquiring an additional 33,618 shares during the period. Vanguard Group Inc. increased its holdings in shares of Astec Industries by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,496,814 shares of the industrial products company’s stock worth $77,876,000 after acquiring an additional 44,174 shares during the period. Victory Capital Management Inc. increased its stake in Astec Industries by 24.9% during 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 buying an additional 354,483 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Astec Industries by 2.0% during the 4th 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 in the last quarter. Finally, Gamco Investors INC. ET AL raised its position in shares of Astec Industries by 8.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 1,131,271 shares of the industrial products company’s stock worth $42,083,000 after buying an additional 86,969 shares in the last quarter. 93.16% of the stock is currently owned by institutional investors.

Astec Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were given a $0.13 dividend. The ex-dividend date was Friday, March 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.19%. Astec Industries’s payout ratio is currently 35.37%.

Astec Industries Company Profile

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.