Fastenal (FAST) Forecasted to Earn Q1 2018 Earnings of $0.60 Per Share
Fastenal (NASDAQ:FAST) – Equities research analysts at Northcoast Research lifted their Q1 2018 earnings estimates for shares of Fastenal in a report released on Thursday. Northcoast Research analyst R. Cieslak now anticipates that the company will post earnings per share of $0.60 for the quarter, up from their prior estimate of $0.52. Northcoast Research also issued estimates for Fastenal’s Q2 2018 earnings at $0.68 EPS, Q3 2018 earnings at $0.67 EPS and Q4 2018 earnings at $0.60 EPS.
A number of other research analysts have also commented on FAST. Morgan Stanley reiterated an “equal weight” rating and set a $46.00 price objective (up previously from $44.00) on shares of Fastenal in a research note on Monday, October 2nd. BMO Capital Markets reiterated a “market perform” rating and set a $51.00 price objective (up previously from $46.00) on shares of Fastenal in a research note on Tuesday, October 10th. Stephens set a $54.00 price objective on shares of Fastenal and gave the company a “buy” rating in a research note on Wednesday, October 11th. KeyCorp reiterated a “buy” rating and set a $52.00 price objective on shares of Fastenal in a research note on Thursday, October 12th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $51.00 price objective on shares of Fastenal in a research note on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $53.29.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Wednesday, January 17th. The company reported $0.45 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.45. Fastenal had a net margin of 13.18% and a return on equity of 27.39%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business earned $0.40 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis.
A number of institutional investors have recently bought and sold shares of the stock. QS Investors LLC boosted its stake in Fastenal by 1.6% in the 2nd quarter. QS Investors LLC now owns 4,051 shares of the company’s stock worth $176,000 after purchasing an additional 63 shares during the period. Krilogy Financial LLC boosted its stake in Fastenal by 2.0% in the 2nd quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock worth $154,000 after purchasing an additional 70 shares during the period. Roberts Glore & Co. Inc. IL boosted its stake in Fastenal by 1.6% in the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 5,041 shares of the company’s stock worth $219,000 after purchasing an additional 80 shares during the period. Sentry Investment Management LLC boosted its stake in Fastenal by 1.4% in the 2nd quarter. Sentry Investment Management LLC now owns 16,380 shares of the company’s stock worth $713,000 after purchasing an additional 230 shares during the period. Finally, Veritable L.P. boosted its stake in Fastenal by 6.5% in the 2nd quarter. Veritable L.P. now owns 5,743 shares of the company’s stock worth $250,000 after purchasing an additional 349 shares during the period. 84.57% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Leland J. Hein sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $48.00, for a total value of $480,000.00. Following the completion of the transaction, the vice president now owns 20,258 shares of the company’s stock, valued at approximately $972,384. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary A. Polipnick sold 2,634 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $53.45, for a total transaction of $140,787.30. Following the completion of the transaction, the insider now directly owns 59,323 shares of the company’s stock, valued at approximately $3,170,814.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,746 shares of company stock worth $3,061,819. 0.55% of the stock is currently owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Wednesday, January 31st will be given a $0.37 dividend. This is a positive change from Fastenal’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.48 annualized dividend and a yield of 2.77%. Fastenal’s payout ratio is 63.68%.
COPYRIGHT VIOLATION NOTICE: “Fastenal (FAST) Forecasted to Earn Q1 2018 Earnings of $0.60 Per Share” was first posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/01/19/fastenal-fast-forecasted-to-earn-q1-2018-earnings-of-0-60-per-share.html.
Fastenal Company Profile
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.
Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.