Fastenal Co. to Post FY2016 Earnings of $1.71 Per Share, William Blair Forecasts (FAST)
Fastenal Co. (NASDAQ:FAST) – Analysts at William Blair decreased their FY2016 earnings per share (EPS) estimates for Fastenal in a research report issued on Tuesday. William Blair analyst R. Merkel now anticipates that the brokerage will post earnings of $1.71 per share for the year, down from their previous estimate of $1.73. William Blair also issued estimates for Fastenal’s Q4 2016 earnings at $0.38 EPS, Q1 2017 earnings at $0.45 EPS, Q2 2017 earnings at $0.47 EPS, Q3 2017 earnings at $0.47 EPS, Q4 2017 earnings at $0.41 EPS and FY2018 earnings at $2.00 EPS.
Fastenal (NASDAQ:FAST) last announced its earnings results on Tuesday, October 11th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by $0.01. The company had revenue of $1.01 billion for the quarter. Fastenal had a return on equity of 26.84% and a net margin of 12.61%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 earnings per share.
Other analysts also recently issued reports about the company. Wells Fargo & Co. reiterated a “hold” rating on shares of Fastenal in a research report on Sunday, September 4th. BMO Capital Markets reiterated a “market perform” rating and set a $47.00 target price on shares of Fastenal in a research report on Wednesday, July 13th. Zacks Investment Research downgraded Fastenal from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 14th. Credit Suisse Group AG reiterated a “neutral” rating and set a $43.00 target price on shares of Fastenal in a research report on Friday, June 17th. Finally, Macquarie began coverage on Fastenal in a research report on Thursday, August 25th. They set a “neutral” rating and a $50.00 target price for the company. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $47.44.
Shares of Fastenal (NASDAQ:FAST) traded down 2.84% during midday trading on Thursday, reaching $37.95. The company’s stock had a trading volume of 2,713,010 shares. The company has a 50-day moving average price of $41.60 and a 200-day moving average price of $44.10. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 21.69 and a beta of 0.99. Fastenal has a 12 month low of $35.10 and a 12 month high of $49.99.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Tuesday, October 25th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, October 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.07%. Fastenal’s dividend payout ratio (DPR) is presently 69.77%.
Several large investors have recently added to or reduced their stakes in FAST. Cantab Capital Partners LLP bought a new stake in Fastenal during the second quarter worth approximately $119,000. American Research & Management Co. raised its stake in Fastenal by 191.5% in the second quarter. American Research & Management Co. now owns 2,740 shares of the company’s stock worth $122,000 after buying an additional 1,800 shares during the period. Washington Trust Bank raised its stake in Fastenal by 2.3% in the second quarter. Washington Trust Bank now owns 2,762 shares of the company’s stock worth $123,000 after buying an additional 62 shares during the period. Van ECK Associates Corp raised its stake in Fastenal by 32.0% in the second quarter. Van ECK Associates Corp now owns 3,131 shares of the company’s stock worth $139,000 after buying an additional 759 shares during the period. Finally, FineMark National Bank & Trust raised its stake in Fastenal by 0.6% in the second quarter. FineMark National Bank & Trust now owns 3,420 shares of the company’s stock worth $152,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 82.12% of the company’s stock.
Fastenal Company Profile
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company distributes these supplies through a network of approximately 2,600 Company-owned stores. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business.
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