Analysts expect Fastenal (NASDAQ:FAST) to report earnings of $0.66 per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Fastenal’s earnings, with the lowest EPS estimate coming in at $0.64 and the highest estimate coming in at $0.68. Fastenal reported earnings per share of $0.52 in the same quarter last year, which would suggest a positive year over year growth rate of 26.9%. The company is scheduled to report its next quarterly earnings report on Wednesday, July 11th.
On average, analysts expect that Fastenal will report full-year earnings of $2.51 per share for the current fiscal year, with EPS estimates ranging from $2.45 to $2.56. For the next financial year, analysts forecast that the firm will post earnings of $2.72 per share, with EPS estimates ranging from $2.65 to $2.83. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Fastenal.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Wednesday, April 11th. The company reported $0.61 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. Fastenal had a net margin of 13.66% and a return on equity of 28.69%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the business earned $0.46 earnings per share. Fastenal’s revenue for the quarter was up 13.2% compared to the same quarter last year.
A number of analysts recently commented on the company. BMO Capital Markets reaffirmed a “hold” rating and issued a $57.00 price target on shares of Fastenal in a research note on Tuesday, January 9th. Stifel Nicolaus raised their price objective on Fastenal from $54.00 to $55.00 and gave the company a “hold” rating in a research report on Tuesday, April 3rd. BidaskClub downgraded Fastenal from a “strong-buy” rating to a “buy” rating in a report on Friday, April 13th. Zacks Investment Research downgraded Fastenal from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, Stephens reiterated a “buy” rating and issued a $60.00 price objective on shares of Fastenal in a report on Wednesday, April 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Fastenal currently has a consensus rating of “Buy” and an average target price of $54.07.
NASDAQ:FAST opened at $50.58 on Tuesday. The company has a market cap of $14,580.07, a PE ratio of 24.36, a P/E/G ratio of 1.45 and a beta of 0.99. Fastenal has a fifty-two week low of $39.79 and a fifty-two week high of $58.74. The company has a quick ratio of 2.30, a current ratio of 5.11 and a debt-to-equity ratio of 0.18.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 23rd. Investors of record on Wednesday, April 25th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.93%. The ex-dividend date is Tuesday, April 24th. Fastenal’s dividend payout ratio is currently 76.68%.
In other Fastenal news, insider William Joseph Drazkowski sold 7,500 shares of the stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $56.64, for a total transaction of $424,800.00. Following the transaction, the insider now owns 9,460 shares in the company, valued at $535,814.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles S. Miller sold 26,250 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $56.50, for a total value of $1,483,125.00. Following the transaction, the insider now owns 26,250 shares in the company, valued at approximately $1,483,125. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Wolverine Asset Management LLC purchased a new position in Fastenal during the fourth quarter worth approximately $104,000. Exane Derivatives purchased a new position in Fastenal during the fourth quarter worth approximately $110,000. SeaCrest Wealth Management LLC purchased a new position in Fastenal during the fourth quarter worth approximately $115,000. AlphaStar Capital Management LLC purchased a new position in Fastenal during the fourth quarter worth approximately $201,000. Finally, LaFleur & Godfrey LLC purchased a new position in Fastenal during the fourth quarter worth approximately $202,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.
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Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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