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

Astec Industries (NASDAQ:ASTE) announced its quarterly earnings data on Wednesday. The industrial products company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.47), Yahoo Finance reports. Astec Industries had a net margin of 1.91% and a return on equity of 7.44%. The company had revenue of $309.20 million for the quarter, compared to analyst estimates of $343.27 million. During the same quarter in the prior year, the company posted $0.90 EPS. Astec Industries’s revenue for the quarter was down 11.1% on a year-over-year basis.

Astec Industries Trading Down 2.4 %

NASDAQ:ASTE opened at $32.38 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.51 and a quick ratio of 0.88. The firm has a 50-day moving average of $41.33 and a 200-day moving average of $37.23. The company has a market cap of $736.32 million, a PE ratio of 29.71 and a beta of 1.40. Astec Industries has a one year low of $28.97 and a one year high of $56.33.

Astec Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 13th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, May 10th. Astec Industries’s payout ratio is presently 47.71%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus lowered shares of Astec Industries from a “buy” rating to a “hold” rating and dropped their price objective for the company from $47.00 to $37.00 in a report on Thursday. StockNews.com lowered shares of Astec Industries from a “buy” rating to a “hold” rating 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.