Equities Analysts Offer Predictions for Fastenal’s Q1 2018 Earnings (FAST)

Fastenal (NASDAQ:FAST) – Equities researchers at KeyCorp increased their Q1 2018 earnings estimates for Fastenal in a research note issued to investors on Thursday, Zacks Investment Research reports. KeyCorp analyst S. Barger now expects that the company will earn $0.59 per share for the quarter, up from their previous estimate of $0.50. KeyCorp also issued estimates for Fastenal’s Q2 2018 earnings at $0.64 EPS, Q3 2018 earnings at $0.63 EPS, Q4 2018 earnings at $0.57 EPS and FY2019 earnings at $2.61 EPS.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Wednesday, January 17th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. Fastenal had a return on equity of 27.39% and a net margin of 13.18%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm earned $0.40 EPS. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year.

Several other analysts also recently issued reports on FAST. Stifel Nicolaus reiterated a “hold” rating and issued a $51.00 price target on shares of Fastenal in a report on Monday, December 11th. Zacks Investment Research upgraded Fastenal from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Tuesday, December 26th. Credit Suisse Group reiterated an “outperform” rating and issued a $61.00 price target (up from $52.00) on shares of Fastenal in a report on Tuesday, January 9th. BMO Capital Markets reiterated a “hold” rating and issued a $57.00 price target on shares of Fastenal in a report on Tuesday, January 9th. Finally, Robert W. Baird reiterated a “buy” rating on shares of Fastenal in a report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Fastenal presently has an average rating of “Buy” and an average price target of $53.29.

Shares of Fastenal (NASDAQ:FAST) traded up $1.08 during midday trading on Monday, reaching $54.65. The company had a trading volume of 2,536,424 shares, compared to its average volume of 3,274,385. Fastenal has a 52-week low of $39.79 and a 52-week high of $57.81. The firm has a market cap of $15,600.00, a P/E ratio of 25.90, a P/E/G ratio of 1.51 and a beta of 1.03. The company has a current ratio of 5.51, a quick ratio of 2.40 and a debt-to-equity ratio of 0.20.

Hedge funds have recently modified their holdings of the company. Korea Investment CORP lifted its position in shares of Fastenal by 62.5% during the third quarter. Korea Investment CORP now owns 76,983 shares of the company’s stock worth $3,509,000 after purchasing an additional 29,600 shares during the last quarter. Beacon Investment Advisory Services Inc. bought a new position in shares of Fastenal during the third quarter worth about $303,000. Raymond James Financial Services Advisors Inc. lifted its position in shares of Fastenal by 39.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 133,651 shares of the company’s stock worth $6,092,000 after purchasing an additional 37,895 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Fastenal by 4.6% during the second quarter. Royal Bank of Canada now owns 1,325,844 shares of the company’s stock worth $57,714,000 after purchasing an additional 58,377 shares during the last quarter. Finally, Griffin Asset Management Inc. bought a new position in shares of Fastenal during the third quarter worth about $550,000. 84.23% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Terry Modock Owen sold 30,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $48.02, for a total transaction of $1,440,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary A. Polipnick sold 2,634 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $53.45, for a total transaction of $140,787.30. Following the transaction, the insider now directly owns 59,323 shares in the company, valued at approximately $3,170,814.35. The disclosure for this sale can be found here. Insiders have sold 78,884 shares of company stock valued at $4,059,512 over the last 90 days. Insiders own 0.55% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Wednesday, January 31st will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, January 30th. This is an increase from Fastenal’s previous quarterly dividend of $0.32. This represents a $1.48 annualized dividend and a dividend yield of 2.71%. Fastenal’s dividend payout ratio (DPR) is currently 70.14%.

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Fastenal Company Profile

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.

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