Q2 2024 Earnings Forecast for Fastenal Issued By Zacks Research (NASDAQ:FAST)

Fastenal (NASDAQ:FAST) – Zacks Research cut their Q2 2024 earnings estimates for Fastenal in a research report issued on Monday, April 22nd. Zacks Research analyst S. Mukherjee now forecasts that the company will post earnings of $0.54 per share for the quarter, down from their prior forecast of $0.56. The consensus estimate for Fastenal’s current full-year earnings is $2.12 per share. Zacks Research also issued estimates for Fastenal’s Q4 2024 earnings at $0.52 EPS, FY2024 earnings at $2.12 EPS, Q1 2025 earnings at $0.55 EPS, Q2 2025 earnings at $0.58 EPS, Q4 2025 earnings at $0.55 EPS, FY2025 earnings at $2.27 EPS, Q1 2026 earnings at $0.58 EPS and FY2026 earnings at $2.42 EPS.

Fastenal (NASDAQ:FAST) last posted its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. Fastenal’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 earnings per share.

A number of other analysts have also recently issued reports on FAST. Robert W. Baird reduced their target price on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Loop Capital reduced their price objective on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research note on Monday, April 15th. Stifel Nicolaus boosted their price objective on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, HSBC boosted their price objective on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.67.

Fastenal Price Performance

NASDAQ FAST opened at $67.74 on Tuesday. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $38.78 billion, a PE ratio of 33.53, a price-to-earnings-growth ratio of 3.53 and a beta of 1.05. The company has a 50 day moving average price of $73.49 and a two-hundred day moving average price of $66.64. Fastenal has a 12-month low of $52.28 and a 12-month high of $79.04.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.30%. The ex-dividend date is Wednesday, April 24th. Fastenal’s payout ratio is currently 77.23%.

Insider Activity at Fastenal

In related news, VP Charles S. Miller sold 11,076 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Charles S. Miller sold 11,076 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel L. Johnson bought 3,350 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were bought at an average price of $68.38 per share, with a total value of $229,073.00. Following the completion of the purchase, the director now owns 10,595 shares in the company, valued at $724,486.10. The disclosure for this purchase can be found here. Insiders sold a total of 36,082 shares of company stock worth $2,584,060 in the last ninety days. 0.41% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fastenal

Several institutional investors and hedge funds have recently bought and sold shares of FAST. CWM LLC increased its holdings in Fastenal by 16.7% in the 3rd quarter. CWM LLC now owns 18,790 shares of the company’s stock valued at $1,027,000 after buying an additional 2,688 shares during the period. Geneos Wealth Management Inc. increased its holdings in Fastenal by 23.2% in the 3rd quarter. Geneos Wealth Management Inc. now owns 1,921 shares of the company’s stock valued at $105,000 after buying an additional 362 shares during the period. IFP Advisors Inc increased its holdings in Fastenal by 25.6% in the 3rd quarter. IFP Advisors Inc now owns 4,702 shares of the company’s stock valued at $257,000 after buying an additional 958 shares during the period. HB Wealth Management LLC increased its holdings in Fastenal by 26.4% in the 3rd quarter. HB Wealth Management LLC now owns 7,159 shares of the company’s stock valued at $391,000 after buying an additional 1,495 shares during the period. Finally, Naples Global Advisors LLC increased its holdings in Fastenal by 5.1% in the 3rd quarter. Naples Global Advisors LLC now owns 14,100 shares of the company’s stock valued at $770,000 after buying an additional 680 shares during the period. Institutional investors own 81.38% of the company’s stock.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.