Fastenal (FAST) Expected to Post Earnings of $0.45 Per Share

Wall Street brokerages predict that Fastenal (NASDAQ:FAST) will announce $0.45 earnings per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Fastenal’s earnings, with estimates ranging from $0.44 to $0.48. Fastenal reported earnings of $0.40 per share in the same quarter last year, which indicates a positive year over year growth rate of 12.5%. The company is scheduled to report its next quarterly earnings report on Wednesday, January 17th.

According to Zacks, analysts expect that Fastenal will report full year earnings of $1.93 per share for the current year, with EPS estimates ranging from $1.92 to $1.95. For the next year, analysts expect that the company will report earnings of $2.13 per share, with EPS estimates ranging from $2.05 to $2.20. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Fastenal.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Wednesday, October 11th. The company reported $0.50 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.50. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Fastenal had a return on equity of 27.28% and a net margin of 12.73%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the company posted $0.44 EPS.

FAST has been the subject of a number of recent research reports. KeyCorp reaffirmed a “buy” rating and issued a $52.00 price target on shares of Fastenal in a research note on Thursday, October 12th. BidaskClub cut Fastenal from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. BMO Capital Markets reissued a “hold” rating and set a $46.00 target price on shares of Fastenal in a research note on Monday, August 21st. Morgan Stanley reissued an “equal weight” rating and set a $46.00 target price (up from $44.00) on shares of Fastenal in a research note on Monday, October 2nd. Finally, Stifel Nicolaus reissued a “hold” rating and set a $46.00 target price on shares of Fastenal in a research note on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Fastenal has a consensus rating of “Buy” and a consensus target price of $50.80.

Fastenal (NASDAQ FAST) traded down $0.21 during trading hours on Friday, reaching $52.18. The company had a trading volume of 3,230,000 shares, compared to its average volume of 1,920,000. The company has a market cap of $14,940.00, a P/E ratio of 27.87, a price-to-earnings-growth ratio of 1.94 and a beta of 1.06. Fastenal has a one year low of $39.79 and a one year high of $52.89. The company has a quick ratio of 2.45, a current ratio of 5.36 and a debt-to-equity ratio of 0.21.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Wednesday, October 25th were paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, October 24th. This represents a $1.28 annualized dividend and a yield of 2.45%. Fastenal’s payout ratio is 68.09%.

In other news, insider Terry Modock Owen sold 30,000 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $48.02, for a total transaction of $1,440,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Leland J. Hein sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $51.00, for a total value of $510,000.00. The disclosure for this sale can be found here. Insiders sold 80,112 shares of company stock worth $3,879,832 over the last three months. Corporate insiders own 0.55% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Nuance Investments LLC purchased a new stake in Fastenal during the second quarter valued at $3,048,000. Sawtooth Solutions LLC increased its position in Fastenal by 15.4% in the second quarter. Sawtooth Solutions LLC now owns 24,473 shares of the company’s stock worth $1,065,000 after buying an additional 3,275 shares in the last quarter. Seven Eight Capital LP increased its position in Fastenal by 67.2% in the second quarter. Seven Eight Capital LP now owns 9,700 shares of the company’s stock worth $422,000 after buying an additional 3,900 shares in the last quarter. Girard Partners LTD. increased its position in Fastenal by 14.5% in the second quarter. Girard Partners LTD. now owns 11,674 shares of the company’s stock worth $508,000 after buying an additional 1,477 shares in the last quarter. Finally, Korea Investment CORP increased its position in Fastenal by 62.5% in the third quarter. Korea Investment CORP now owns 76,983 shares of the company’s stock worth $3,509,000 after buying an additional 29,600 shares in the last quarter. Institutional investors own 84.65% of the company’s stock.

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About Fastenal

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.

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Earnings History and Estimates for Fastenal (NASDAQ:FAST)

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