Fastenal Co. to Post FY2016 Earnings of $1.70 Per Share, Northcoast Research Forecasts (FAST)
Fastenal Co. (NASDAQ:FAST) – Stock analysts at Northcoast Research reduced their FY2016 earnings estimates for Fastenal in a research report issued on Wednesday. Northcoast Research analyst T. Hayes now forecasts that the firm will post earnings of $1.70 per share for the year, down from their prior forecast of $1.72. Northcoast Research also issued estimates for Fastenal’s Q4 2016 earnings at $0.37 EPS, Q2 2017 earnings at $0.48 EPS, Q3 2017 earnings at $0.46 EPS, Q4 2017 earnings at $0.40 EPS and FY2017 earnings at $1.81 EPS.
A number of other brokerages have also weighed in on FAST. Vetr lowered Fastenal from a “strong-buy” rating to a “hold” rating and set a $42.46 target price for the company. in a research note on Tuesday, September 6th. Credit Suisse Group AG restated a “neutral” rating and issued a $43.00 target price on shares of Fastenal in a research note on Friday, June 17th. Wells Fargo & Co. restated a “hold” rating on shares of Fastenal in a research note on Sunday, September 4th. Zacks Investment Research lowered Fastenal from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 14th. Finally, Macquarie started coverage on Fastenal in a research note on Thursday, August 25th. They issued a “neutral” rating and a $50.00 target price for the company. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the stock. Fastenal currently has a consensus rating of “Hold” and an average price target of $47.44.
Shares of Fastenal (NASDAQ:FAST) traded down 2.82% during trading on Thursday, hitting $37.96. The stock had a trading volume of 2,713,310 shares. The firm has a 50 day moving average of $41.60 and a 200 day moving average of $44.10. Fastenal has a 1-year low of $35.10 and a 1-year high of $49.99. The company has a market capitalization of $10.97 billion, a price-to-earnings ratio of 21.69 and a beta of 0.99.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/13/fastenal-co-to-post-fy2016-earnings-of-1-70-per-share-northcoast-research-forecasts-fast.html
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Tuesday, October 11th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The company had revenue of $1.01 billion for the quarter. Fastenal had a return on equity of 26.84% and a net margin of 12.61%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS.
Several institutional investors have recently added to or reduced their stakes in FAST. Ngam Advisors L.P. boosted its position in Fastenal by 52.6% in the first quarter. Ngam Advisors L.P. now owns 26,251 shares of the company’s stock valued at $1,286,000 after buying an additional 9,050 shares during the period. Prudential Financial Inc. boosted its position in Fastenal by 2.9% in the first quarter. Prudential Financial Inc. now owns 357,903 shares of the company’s stock valued at $17,537,000 after buying an additional 10,130 shares during the period. Bessemer Group Inc. boosted its position in Fastenal by 1.0% in the first quarter. Bessemer Group Inc. now owns 66,946 shares of the company’s stock valued at $3,280,000 after buying an additional 681 shares during the period. Aviva PLC boosted its position in Fastenal by 1.2% in the first quarter. Aviva PLC now owns 133,840 shares of the company’s stock valued at $6,558,000 after buying an additional 1,565 shares during the period. Finally, Motley Fool Wealth Management LLC boosted its position in Fastenal by 1.6% in the first quarter. Motley Fool Wealth Management LLC now owns 104,198 shares of the company’s stock valued at $5,106,000 after buying an additional 1,633 shares during the period. Institutional investors and hedge funds own 82.12% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Tuesday, October 25th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Friday, October 21st. Fastenal’s dividend payout ratio (DPR) is presently 69.77%.
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.
Receive News & Ratings for Fastenal Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal Co. and related companies with MarketBeat.com's FREE daily email newsletter.