Astec Industries (NASDAQ:ASTE) Announces Quarterly Earnings Results, Beats Expectations By $0.46 EPS

Astec Industries (NASDAQ:ASTE) released its quarterly earnings data on Wednesday. The industrial products company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.46, Zacks reports. The company had revenue of $359.00 million for the quarter, compared to analyst estimates of $374.10 million. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%.

Astec Industries Price Performance

Shares of ASTE traded down $0.46 during trading hours on Thursday, reaching $35.03. The company had a trading volume of 47,960 shares, compared to its average volume of 189,155. The company has a market capitalization of $798.75 million, a price-to-earnings ratio of -437.82 and a beta of 1.31. The company has a current ratio of 2.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The firm has a 50 day simple moving average of $33.43 and a 200-day simple moving average of $33.66. Astec Industries has a 12-month low of $28.46 and a 12-month high of $44.74.

Astec Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.48%. Astec Industries’s dividend payout ratio (DPR) is -650.00%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. StockNews.com cut Astec Industries from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Robert W. Baird increased their target price on shares of Astec Industries from $40.00 to $41.00 and gave the company a “neutral” rating in a research 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.