Fastenal (FAST) Releases Quarterly Earnings, Misses Expectations By $0.01 EPS
Fastenal (NASDAQ:FAST) posted its quarterly earnings results on Wednesday. The company reported $0.40 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.41 by $0.01, AnalystRatingsNetwork reports. The company had revenue of $858.42 million for the quarter, compared to the consensus estimate of $864.00 million.
Fastenal (NASDAQ:FAST) opened at 49.98 on Wednesday. Fastenal has a 52 week low of $40.00 and a 52 week high of $53.38. The stock’s 50-day moving average is $48.4 and its 200-day moving average is $48.40. The company has a market cap of $14.837 billion and a price-to-earnings ratio of 34.00.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 22nd. Shareholders of record on Friday, October 25th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.00%.
A number of analysts have recently weighed in on FAST shares. Analysts at Robert W. Baird raised their price target on shares of Fastenal from $53.00 to $59.00 in a research note to investors on Friday, October 4th. They now have an “outperform” rating on the stock. On a related note, analysts at Thomson Reuters/Verus downgraded shares of Fastenal from a “buy” rating to a “hold” rating in a research note to investors on Monday, September 2nd. Finally, analysts at Thomson Reuters/Verus upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a research note to investors on Monday, August 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Fastenal has a consensus rating of “Hold” and a consensus price target of $50.29.
Fastenal Company is engaged in selling industrial and construction supplies in a wholesale and retail fashion.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.