Fastenal Co. (FAST) Set to Announce Earnings on Tuesday
Fastenal Co. (NASDAQ:FAST) will be announcing its earnings results before the market opens on Tuesday, October 11th. Analysts expect the company to announce earnings of $0.45 per share for the quarter.
Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Tuesday, July 12th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.03. Fastenal had a net margin of 12.91% and a return on equity of 27.83%. The company had revenue of $1.01 billion for the quarter. During the same period in the previous year, the company earned $0.48 earnings per share. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, analysts expect Fastenal to post $1.74 EPS for the current fiscal year and $1.85 EPS for the next fiscal year.
Fastenal Co. (NASDAQ:FAST) opened at 42.30 on Monday. The stock has a market capitalization of $12.22 billion, a P/E ratio of 24.17 and a beta of 0.99. The stock has a 50 day moving average price of $41.91 and a 200 day moving average price of $44.29. Fastenal Co. has a 12 month low of $35.10 and a 12 month high of $49.99.
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Large investors have recently bought and sold shares of the stock. Quadrature Capital Ltd boosted its stake in Fastenal by 78.2% in the second quarter. Quadrature Capital Ltd now owns 34,898 shares of the company’s stock worth $1,549,000 after buying an additional 15,319 shares during the period. Atlantic Trust Group LLC boosted its stake in Fastenal by 6.0% in the second quarter. Atlantic Trust Group LLC now owns 35,537 shares of the company’s stock worth $1,577,000 after buying an additional 2,022 shares during the period. Canada Pension Plan Investment Board boosted its stake in Fastenal by 652.6% in the second quarter. Canada Pension Plan Investment Board now owns 22,133 shares of the company’s stock worth $982,000 after buying an additional 19,192 shares during the period. Tredje AP fonden boosted its stake in Fastenal by 486.0% in the second quarter. Tredje AP fonden now owns 9,610 shares of the company’s stock worth $427,000 after buying an additional 7,970 shares during the period. Finally, Trexquant Investment LP acquired a new stake in Fastenal during the second quarter worth approximately $1,230,000. Hedge funds and other institutional investors own 82.12% of the company’s stock.
Several brokerages have recently commented on FAST. Wells Fargo & Co. reiterated a “hold” rating on shares of Fastenal in a report on Sunday, September 4th. Zacks Investment Research lowered Fastenal from a “hold” rating to a “strong sell” rating in a report on Thursday, July 14th. Macquarie began coverage on Fastenal in a report on Thursday, August 25th. They set a “neutral” rating and a $50.00 price objective for the company. Credit Suisse Group AG reiterated a “neutral” rating and set a $43.00 price objective on shares of Fastenal in a report on Friday, June 17th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $47.00 price objective on shares of Fastenal in a report on Wednesday, July 13th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $47.44.
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company distributes these supplies through a network of approximately 2,600 Company-owned stores. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business.
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