Fastenal Co. to Post FY2016 Earnings of $1.71 Per Share, William Blair Forecasts (FAST)
Fastenal Co. (NASDAQ:FAST) – William Blair cut their FY2016 earnings per share (EPS) estimates for shares of Fastenal in a report issued on Tuesday. William Blair analyst R. Merkel now forecasts that the brokerage will post earnings of $1.71 per share for the year, down from their prior estimate of $1.73. William Blair also issued estimates for Fastenal’s Q4 2016 earnings at $0.38 EPS, Q1 2017 earnings at $0.45 EPS, Q2 2017 earnings at $0.47 EPS, Q3 2017 earnings at $0.47 EPS, Q4 2017 earnings at $0.41 EPS and FY2018 earnings at $2.00 EPS.
FAST has been the topic of several other reports. Zacks Investment Research upgraded shares of Fastenal from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th. Morgan Stanley began coverage on shares of Fastenal in a report on Thursday, July 7th. They issued an “equal weight” rating and a $46.00 price objective on the stock. BMO Capital Markets reaffirmed a “market perform” rating and set a $47.00 target price on shares of Fastenal in a research note on Wednesday, July 13th. Macquarie began coverage on shares of Fastenal in a research note on Thursday, August 25th. They set a “neutral” rating and a $50.00 target price on the stock. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of Fastenal in a research note on Sunday, September 4th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $47.44.
Shares of Fastenal (NASDAQ:FAST) traded down 2.84% during midday trading on Thursday, reaching $37.95. 2,713,010 shares of the company’s stock traded hands. The stock has a market capitalization of $10.97 billion, a P/E ratio of 21.69 and a beta of 0.99. The firm’s 50-day moving average price is $41.60 and its 200 day moving average price is $44.10. Fastenal has a 1-year low of $35.10 and a 1-year high of $49.99.
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Fastenal (NASDAQ:FAST) last announced its earnings results on Tuesday, October 11th. The company reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The firm earned $1.01 billion during the quarter. Fastenal had a net margin of 12.61% and a return on equity of 26.84%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the business posted $0.47 EPS.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, October 25th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Friday, October 21st. Fastenal’s dividend payout ratio (DPR) is 69.77%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. FineMark National Bank & Trust increased its position in Fastenal by 0.6% in the second quarter. FineMark National Bank & Trust now owns 3,420 shares of the company’s stock worth $152,000 after buying an additional 20 shares during the period. Strategic Advisors LLC boosted its stake in shares of Fastenal by 0.4% in the second quarter. Strategic Advisors LLC now owns 13,304 shares of the company’s stock worth $591,000 after buying an additional 47 shares in the last quarter. Raymond James Trust N.A. boosted its stake in shares of Fastenal by 0.3% in the third quarter. Raymond James Trust N.A. now owns 16,934 shares of the company’s stock worth $708,000 after buying an additional 48 shares in the last quarter. Washington Trust Bank boosted its stake in shares of Fastenal by 2.3% in the second quarter. Washington Trust Bank now owns 2,762 shares of the company’s stock worth $123,000 after buying an additional 62 shares in the last quarter. Finally, First Allied Advisory Services Inc. boosted its stake in shares of Fastenal by 0.5% in the second quarter. First Allied Advisory Services Inc. now owns 14,726 shares of the company’s stock worth $652,000 after buying an additional 79 shares in the last quarter. 82.12% of the stock is currently owned by hedge funds and other institutional investors.
Fastenal Company Profile
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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