Analysts Expect Fastenal (FAST) to Announce $0.76 EPS

Analysts expect Fastenal (NASDAQ:FAST) to announce earnings of $0.76 per share for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Fastenal’s earnings. The lowest EPS estimate is $0.74 and the highest is $0.77. Fastenal posted earnings of $0.74 per share in the same quarter last year, which would suggest a positive year over year growth rate of 2.7%. The firm is expected to report its next earnings report on Wednesday, July 10th.

On average, analysts expect that Fastenal will report full-year earnings of $2.85 per share for the current financial year, with EPS estimates ranging from $2.80 to $2.90. For the next financial year, analysts expect that the firm will post earnings of $3.07 per share, with EPS estimates ranging from $2.98 to $3.20. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Fastenal.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Thursday, April 11th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. Fastenal had a net margin of 15.16% and a return on equity of 33.52%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the company earned $0.61 EPS.

A number of analysts recently weighed in on FAST shares. Morgan Stanley started coverage on shares of Fastenal in a research report on Tuesday, December 18th. They set an “equal weight” rating and a $55.00 price target for the company. Zacks Investment Research cut shares of Fastenal from a “buy” rating to a “sell” rating in a research report on Thursday, January 3rd. Jefferies Financial Group started coverage on shares of Fastenal in a research report on Monday, January 7th. They set a “hold” rating and a $60.00 price target for the company. Wolfe Research raised shares of Fastenal from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 8th. Finally, Buckingham Research set a $51.00 price target on shares of Fastenal and gave the stock a “hold” rating in a research report on Friday, January 11th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $60.90.

In other Fastenal news, insider Leland J. Hein sold 22,500 shares of the business’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $63.13, for a total value of $1,420,425.00. Following the transaction, the insider now owns 30,111 shares in the company, valued at approximately $1,900,907.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sheryl Ann Lisowski sold 10,000 shares of the business’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $62.50, for a total transaction of $625,000.00. Following the completion of the transaction, the chief accounting officer now owns 10,300 shares in the company, valued at approximately $643,750. The disclosure for this sale can be found here. Insiders sold a total of 87,083 shares of company stock worth $5,458,662 in the last quarter. 0.56% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of FAST. Bank of New York Mellon Corp raised its stake in shares of Fastenal by 1.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 14,725,234 shares of the company’s stock valued at $854,358,000 after purchasing an additional 158,261 shares in the last quarter. Panagora Asset Management Inc. grew its position in shares of Fastenal by 95.9% during the 3rd quarter. Panagora Asset Management Inc. now owns 38,393 shares of the company’s stock valued at $2,228,000 after buying an additional 18,790 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Fastenal by 2.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,090,041 shares of the company’s stock valued at $63,244,000 after buying an additional 28,397 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Fastenal by 8.3% during the 3rd quarter. Franklin Resources Inc. now owns 96,925 shares of the company’s stock valued at $5,623,000 after buying an additional 7,459 shares during the last quarter. Finally, GAM Holding AG grew its position in shares of Fastenal by 26.3% during the 3rd quarter. GAM Holding AG now owns 8,295 shares of the company’s stock valued at $481,000 after buying an additional 1,725 shares during the last quarter. Hedge funds and other institutional investors own 86.58% of the company’s stock.

Fastenal stock traded down $0.72 during trading on Wednesday, reaching $68.99. 98,423 shares of the company’s stock were exchanged, compared to its average volume of 1,872,277. The company has a current ratio of 4.31, a quick ratio of 2.37 and a debt-to-equity ratio of 0.20. Fastenal has a 52-week low of $47.37 and a 52-week high of $69.79. The stock has a market cap of $19.60 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 1.50 and a beta of 1.17.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, April 24th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $1.72 dividend on an annualized basis and a yield of 2.49%. Fastenal’s dividend payout ratio is currently 65.40%.

About Fastenal

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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Earnings History and Estimates for Fastenal (NASDAQ:FAST)

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