Astec Industries (NASDAQ:ASTE) Issues 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 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.11), Briefing.com reports. The business had revenue of $345.50 million during the quarter, compared to the consensus estimate of $332.35 million. Astec Industries had a return on equity of 7.44% and a net margin of 1.91%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 EPS.

Astec Industries Price Performance

Shares of NASDAQ ASTE traded up $0.51 during mid-day trading on Thursday, reaching $31.74. The company’s stock had a trading volume of 123,014 shares, compared to its average volume of 152,444. The firm has a market capitalization of $722.56 million, a PE ratio of 29.12 and a beta of 1.30. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.51 and a quick ratio of 0.95. The stock has a fifty day moving average of $31.49 and a two-hundred day moving average of $35.90. Astec Industries has a 52 week low of $28.46 and a 52 week high of $56.33.

Astec Industries Announces Dividend

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

Wall Street Analyst Weigh In

ASTE has been the subject of several research analyst reports. Stifel Nicolaus lowered Astec Industries from a “buy” rating to a “hold” rating and cut their price objective for the stock from $47.00 to $37.00 in a report on Thursday, May 2nd. StockNews.com lowered Astec Industries from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd.

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.