Wall Street brokerages expect Fastenal (NASDAQ:FAST) to announce $0.66 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Fastenal’s earnings. The lowest EPS estimate is $0.64 and the highest is $0.68. Fastenal posted earnings per share of $0.52 during the same quarter last year, which would suggest a positive year over year growth rate of 26.9%. The firm is expected 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 year, analysts expect that the company will post earnings of $2.72 per share, with EPS estimates ranging from $2.65 to $2.83. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that follow Fastenal.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Wednesday, April 11th. The company reported $0.61 EPS for the quarter, meeting analysts’ consensus estimates of $0.61. Fastenal had a net margin of 13.66% and a return on equity of 28.69%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the business earned $0.46 earnings per share. The business’s quarterly revenue was up 13.2% on a year-over-year basis.
Several brokerages have recently issued reports on FAST. Goldman Sachs began coverage on shares of Fastenal in a report on Sunday, March 18th. They issued a “sell” rating and a $49.00 target price on the stock. Robert W. Baird restated a “buy” rating and issued a $57.00 target price on shares of Fastenal in a report on Tuesday, March 6th. Zacks Investment Research cut shares of Fastenal from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Credit Suisse Group restated an “outperform” rating and issued a $61.00 target price (up previously from $52.00) on shares of Fastenal in a report on Tuesday, January 9th. Finally, BMO Capital Markets restated a “hold” rating and issued a $57.00 target price on shares of Fastenal in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Fastenal has an average rating of “Buy” and an average target price of $54.07.
Shares of Fastenal stock opened at $50.58 on Tuesday. The company has a current ratio of 5.11, a quick ratio of 2.30 and a debt-to-equity ratio of 0.18. Fastenal has a 52-week low of $39.79 and a 52-week high of $58.74. The company has a market capitalization of $14,580.07, a PE ratio of 24.36, a PEG ratio of 1.45 and a beta of 0.99.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 23rd. Investors of record on Wednesday, April 25th will be issued a $0.37 dividend. 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 (DPR) is currently 76.68%.
In other Fastenal news, insider William Joseph Drazkowski sold 7,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 9,460 shares of the company’s stock, valued at $535,814.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles S. Miller sold 26,250 shares of the firm’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $56.50, for a total value of $1,483,125.00. Following the transaction, the insider now directly owns 26,250 shares of the company’s stock, valued at approximately $1,483,125. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Wolverine Asset Management LLC purchased a new position in Fastenal during the fourth quarter valued at $104,000. Exane Derivatives purchased a new position in Fastenal during the fourth quarter valued at $110,000. SeaCrest Wealth Management LLC purchased a new position in Fastenal during the fourth quarter valued at $115,000. Squar Milner Financial Services LLC purchased a new position in Fastenal during the fourth quarter valued at $202,000. Finally, AlphaStar Capital Management LLC purchased a new position in Fastenal during the fourth quarter valued at $201,000. 85.19% of the stock is owned by institutional investors and hedge funds.
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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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