Astec Industries (NASDAQ:ASTE) Issues Earnings Results, Hits Estimates

Astec Industries (NASDAQ:ASTE) issued its quarterly earnings data on Wednesday. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31, Briefing.com reports. Astec Industries had a positive return on equity of 6.56% and a negative net margin of 0.18%. The business had revenue of $291.40 million during the quarter, compared to the consensus estimate of $312.90 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. The business’s revenue was down 3.9% on a year-over-year basis.

Astec Industries Trading Down 2.4 %

Shares of Astec Industries stock opened at $37.13 on Friday. The business has a fifty day simple moving average of $31.75 and a 200-day simple moving average of $32.60. Astec Industries has a fifty-two week low of $28.46 and a fifty-two week high of $44.74. The firm has a market cap of $846.60 million, a price-to-earnings ratio of -464.13 and a beta of 1.26. The company has a quick ratio of 1.04, a current ratio of 2.50 and a debt-to-equity ratio of 0.20.

Astec Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Wednesday, November 13th. Astec Industries’s dividend payout ratio (DPR) is presently -650.00%.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird raised their price target on Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday.

About Astec Industries

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.