Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Fastenal (FAST) Share Price
Headlines about Fastenal (NASDAQ:FAST) have been trending somewhat positive recently, according to Accern. The research group rates the sentiment of press coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Fastenal earned a media sentiment score of 0.10 on Accern’s scale. Accern also gave news headlines about the company an impact score of 47.4179125981249 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Here are some of the headlines that may have impacted Accern’s rankings:
- Minimizer Adds 2 North American Regional Managers with Industry Experience (bizjournals.com)
- 2018 team preview: Roush Fenway Racing (nascar.com)
- William Blair Comments on Fastenal’s Q4 2018 Earnings (FAST) (americanbankingnews.com)
- Brokers Set Expectations for Fastenal’s FY2019 Earnings (FAST) (americanbankingnews.com)
- William Blair Analysts Raise Earnings Estimates for Fastenal (FAST) (americanbankingnews.com)
FAST has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Friday, January 19th. Credit Suisse Group upgraded shares of Fastenal to a “buy” rating and set a $61.00 target price for the company in a research note on Thursday, January 18th. Stephens raised their target price on shares of Fastenal from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Robert W. Baird restated a “buy” rating on shares of Fastenal in a research note on Wednesday, January 17th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $51.00 target price on shares of Fastenal in a research note on Monday, December 11th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $53.29.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Wednesday, January 17th. The company reported $0.45 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.45. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Fastenal had a net margin of 13.18% and a return on equity of 27.39%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the company posted $0.40 earnings per share. sell-side analysts expect that Fastenal will post 2.5 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Wednesday, January 31st will be issued a $0.37 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.77%. This is a boost from Fastenal’s previous quarterly dividend of $0.32. Fastenal’s dividend payout ratio (DPR) is currently 73.63%.
In other Fastenal news, 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 completion of the transaction, the insider now owns 26,250 shares of the company’s stock, valued at $1,483,125. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Terry Modock Owen sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $48.02, for a total transaction of $1,440,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,884 shares of company stock valued at $4,059,512. Corporate insiders own 0.55% of the company’s stock.
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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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