Analysts Set Expectations for Astec Industries, Inc.’s Q2 2024 Earnings (NASDAQ:ASTE)

Astec Industries, Inc. (NASDAQ:ASTEFree Report) – Analysts at Zacks Research lowered their Q2 2024 earnings estimates for shares of Astec Industries in a report released on Thursday, March 28th. Zacks Research analyst S. Deb now forecasts that the industrial products company will post earnings per share of $0.77 for the quarter, down from their prior forecast of $0.79. The consensus estimate for Astec Industries’ current full-year earnings is $2.89 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:ASTEGet Free Report) last issued its earnings results on Wednesday, February 28th. The industrial products company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.28. Astec Industries had a return on equity of 9.46% and a net margin of 2.50%. The business had revenue of $337.20 million for the quarter, compared to analyst estimates of $332.33 million. During the same period last year, the company posted $0.34 EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis.

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

Read Our Latest Research Report on ASTE

Astec Industries Price Performance

Astec Industries stock opened at $43.71 on Friday. The firm has a fifty day moving average of $38.15 and a 200-day moving average of $38.12. The company has a quick ratio of 0.88, a current ratio of 2.41 and a debt-to-equity ratio of 0.11. Astec Industries has a 52-week low of $28.97 and a 52-week high of $56.33. The firm has a market capitalization of $993.97 million, a P/E ratio of 29.73 and a beta of 1.38.

Institutional Investors Weigh In On Astec Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its holdings in shares of Astec Industries by 65,426.4% in the 3rd quarter. FMR LLC now owns 473,756 shares of the industrial products company’s stock valued at $22,319,000 after acquiring an additional 473,033 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Astec Industries by 24.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,777,218 shares of the industrial products company’s stock worth $72,262,000 after purchasing an additional 354,483 shares during the period. Wellington Management Group LLP bought a new position in shares of Astec Industries in the 3rd quarter worth about $13,107,000. Norges Bank acquired a new position in shares of Astec Industries in the 4th quarter valued at about $9,297,000. Finally, BlackRock Inc. grew its position in shares of Astec Industries by 4.6% during the 1st quarter. BlackRock Inc. now owns 4,042,268 shares of the industrial products company’s stock valued at $173,816,000 after buying an additional 178,771 shares during the last quarter. Institutional investors own 93.16% of the company’s stock.

Astec Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.52 dividend on an annualized basis and a yield of 1.19%. Astec Industries’s dividend payout ratio (DPR) is 35.37%.

About Astec Industries

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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.

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Earnings History and Estimates for Astec Industries (NASDAQ:ASTE)

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