$0.45 Earnings Per Share Expected for Fastenal Company (FAST) This Quarter
Brokerages expect Fastenal Company (NASDAQ:FAST) to report $0.45 earnings per share (EPS) for the current quarter, according to Zacks. Seven analysts have provided estimates for Fastenal’s earnings. The lowest EPS estimate is $0.44 and the highest is $0.48. Fastenal posted earnings of $0.40 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 12.5%. The business is expected to issue its next earnings report on Wednesday, January 17th.
According to Zacks, analysts expect that Fastenal will report full-year earnings of $1.93 per share for the current fiscal year, with EPS estimates ranging from $1.92 to $1.95. For the next fiscal year, analysts expect that the firm will post earnings of $2.12 per share, with EPS estimates ranging from $2.03 to $2.20. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Fastenal.
Fastenal (NASDAQ:FAST) last announced its earnings results on Wednesday, October 11th. The company reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Fastenal had a return on equity of 27.28% and a net margin of 12.73%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS.
FAST has been the subject of a number of research analyst reports. KeyCorp reissued a “buy” rating and issued a $52.00 target price on shares of Fastenal in a research report on Thursday, October 12th. Stephens set a $54.00 price objective on Fastenal and gave the company a “buy” rating in a research note on Wednesday, October 11th. Northcoast Research reaffirmed a “buy” rating on shares of Fastenal in a research note on Friday, August 4th. Zacks Investment Research raised Fastenal from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Thursday, August 3rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $46.00 price objective (up from $44.00) on shares of Fastenal in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Fastenal currently has a consensus rating of “Buy” and a consensus target price of $50.80.
Shares of Fastenal (FAST) traded down $0.36 during midday trading on Tuesday, hitting $47.23. The company had a trading volume of 1,741,300 shares, compared to its average volume of 2,843,943. The firm has a market cap of $13,676.91, a PE ratio of 25.31, a PEG ratio of 1.76 and a beta of 1.06. The company has a current ratio of 5.36, a quick ratio of 2.45 and a debt-to-equity ratio of 0.21. Fastenal has a 1 year low of $39.79 and a 1 year high of $52.74.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, October 25th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Tuesday, October 24th. Fastenal’s dividend payout ratio (DPR) is 68.09%.
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In related news, insider Leland J. Hein sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $48.74, for a total value of $487,400.00. Following the completion of the transaction, the insider now directly owns 20,258 shares of the company’s stock, valued at approximately $987,374.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen L. Eastman acquired 800 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average cost of $40.58 per share, with a total value of $32,464.00. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 30,112 shares of company stock valued at $1,444,232. Company insiders own 0.55% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FAST. Janus Henderson Group PLC increased its stake in Fastenal by 357.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,822,655 shares of the company’s stock valued at $79,340,000 after purchasing an additional 1,423,856 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in Fastenal in the 3rd quarter valued at approximately $64,702,000. Bank of New York Mellon Corp increased its stake in Fastenal by 8.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 16,219,944 shares of the company’s stock valued at $739,306,000 after purchasing an additional 1,297,185 shares in the last quarter. Old Mutual Global Investors UK Ltd. increased its stake in Fastenal by 580.8% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 1,496,666 shares of the company’s stock valued at $68,218,000 after purchasing an additional 1,276,832 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Fastenal by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 31,573,149 shares of the company’s stock valued at $1,374,380,000 after purchasing an additional 943,262 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.
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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