Astec Industries (NASDAQ:ASTE) Releases Quarterly Earnings Results, Misses Estimates By $0.47 EPS

Astec Industries (NASDAQ:ASTE) posted its quarterly earnings results on Wednesday. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.47), Yahoo Finance reports. Astec Industries had a return on equity of 9.46% and a net margin of 2.50%. The company had revenue of $309.20 million for the quarter, compared to analysts’ expectations of $343.27 million. During the same quarter in the prior year, the firm earned $0.90 EPS. The firm’s revenue was down 11.1% on a year-over-year basis.

Astec Industries Trading Down 2.4 %

Shares of NASDAQ:ASTE traded down $0.80 during midday trading on Thursday, reaching $32.97. 66,260 shares of the company’s stock were exchanged, compared to its average volume of 134,838. The firm’s 50 day simple moving average is $41.42 and its two-hundred day simple moving average is $37.35. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.41 and a quick ratio of 0.88. The stock has a market cap of $749.74 million, a price-to-earnings ratio of 22.37 and a beta of 1.40. Astec Industries has a fifty-two week low of $28.97 and a fifty-two week high of $56.33.

Astec Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 13th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Friday, May 10th. Astec Industries’s payout ratio is 35.37%.

Analysts Set New Price Targets

Several research analysts have recently commented 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 lowered Astec Industries from a “buy” rating to a “hold” rating and reduced their price target for the stock from $47.00 to $37.00 in a report on Thursday.

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.