Equities analysts expect that Fastenal (NASDAQ:FAST) will report $1.25 billion in sales for the current quarter, Zacks reports. Eight analysts have issued estimates for Fastenal’s earnings, with the lowest sales estimate coming in at $1.24 billion and the highest estimate coming in at $1.27 billion. Fastenal posted sales of $1.12 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 11.6%. The company is expected to announce its next quarterly earnings report on Wednesday, July 11th.
On average, analysts expect that Fastenal will report full year sales of $4.88 billion for the current fiscal year, with estimates ranging from $4.82 billion to $4.93 billion. For the next financial year, analysts expect that the company will report sales of $5.25 billion per share, with estimates ranging from $5.19 billion to $5.38 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Fastenal.
Fastenal (NASDAQ:FAST) last posted its earnings results on Wednesday, April 11th. The company reported $0.61 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. Fastenal had a return on equity of 28.69% and a net margin of 13.66%. The business’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.46 EPS.
Several brokerages recently issued reports on FAST. BMO Capital Markets restated a “hold” rating and issued a $57.00 price target on shares of Fastenal in a research report on Monday, April 9th. Robert W. Baird reiterated a “buy” rating and set a $57.00 target price on shares of Fastenal in a research report on Tuesday, March 6th. Zacks Investment Research cut Fastenal from a “buy” rating to a “hold” rating in a research report on Friday, April 13th. Northcoast Research set a $60.00 price target on Fastenal and gave the stock a “buy” rating in a report on Friday, March 2nd. Finally, KeyCorp restated a “buy” rating on shares of Fastenal in a report on Friday, April 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Fastenal presently has a consensus rating of “Buy” and a consensus target price of $54.07.
In other Fastenal news, insider James C. Jansen sold 29,758 shares of the stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $52.51, for a total transaction of $1,562,592.58. Following the transaction, the insider now owns 22,588 shares of the company’s stock, valued at approximately $1,186,095.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Holden Lewis purchased 1,000 shares of Fastenal stock in a transaction on Monday, April 30th. The shares were acquired at an average cost of $50.28 per share, for a total transaction of $50,280.00. Following the purchase, the chief financial officer now owns 3,000 shares in the company, valued at $150,840. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 2,155 shares of company stock worth $107,678. 0.56% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Wolverine Asset Management LLC acquired a new stake in shares of Fastenal during the fourth quarter valued at about $104,000. Exane Derivatives bought a new position in Fastenal in the fourth quarter worth about $110,000. SeaCrest Wealth Management LLC bought a new position in Fastenal in the fourth quarter worth about $115,000. Signaturefd LLC bought a new position in Fastenal in the first quarter worth about $117,000. Finally, Institutional & Family Asset Management LLC bought a new position in Fastenal in the first quarter worth about $122,000. 85.50% of the stock is currently owned by institutional investors.
Fastenal traded down $0.30, hitting $52.50, during trading on Thursday, MarketBeat reports. The company had a trading volume of 1,531,399 shares, compared to its average volume of 2,168,424. The stock has a market capitalization of $15.10 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 1.50 and a beta of 1.01. Fastenal has a 1-year low of $39.79 and a 1-year 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 business also recently announced a quarterly dividend, which was paid on Wednesday, May 23rd. Investors of record on Wednesday, April 25th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Tuesday, April 24th. Fastenal’s payout ratio is currently 76.68%.
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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