Equities research analysts predict that Fastenal (NASDAQ:FAST) will report $1.16 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Fastenal’s earnings, with the highest sales estimate coming in at $1.19 billion and the lowest estimate coming in at $1.14 billion. Fastenal reported sales of $1.05 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.5%. The business is expected to issue its next earnings results on Wednesday, April 11th.
According to Zacks, analysts expect that Fastenal will report full year sales of $1.16 billion for the current year, with estimates ranging from $4.71 billion to $4.90 billion. For the next fiscal year, analysts forecast that the business will post sales of $5.18 billion per share, with estimates ranging from $5.05 billion to $5.35 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Fastenal.
Fastenal (NASDAQ:FAST) last issued its earnings results on Wednesday, January 17th. The company reported $0.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. Fastenal had a net margin of 13.18% and a return on equity of 27.39%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the company posted $0.40 earnings per share. The firm’s quarterly revenue was up 14.8% on a year-over-year basis.
Shares of Fastenal (NASDAQ FAST) opened at $53.48 on Friday. Fastenal has a fifty-two week low of $39.79 and a fifty-two week high of $57.81. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.51 and a quick ratio of 2.40. The stock has a market cap of $15,381.06, a P/E ratio of 27.71, a P/E/G ratio of 1.53 and a beta of 1.03.
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. The ex-dividend date of this dividend is Tuesday, January 30th. This is an increase from Fastenal’s previous quarterly dividend of $0.32. This represents a $1.48 annualized dividend and a yield of 2.77%. Fastenal’s dividend payout ratio (DPR) is presently 73.63%.
In other news, insider James C. Jansen sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $48.50, for a total transaction of $485,000.00. Following the sale, the insider now directly owns 22,588 shares in the company, valued at approximately $1,095,518. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles S. Miller sold 26,250 shares of the firm’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $56.50, for a total transaction of $1,483,125.00. Following the sale, the insider now owns 26,250 shares in the company, valued at $1,483,125. The disclosure for this sale can be found here. Insiders sold 78,884 shares of company stock worth $4,059,512 over the last quarter. Insiders own 0.55% of the company’s stock.
Several hedge funds have recently made changes to their positions in FAST. Exane Derivatives bought a new stake in shares of Fastenal during the 4th quarter valued at $110,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Fastenal during the 3rd quarter valued at $114,000. SeaCrest Wealth Management LLC bought a new stake in shares of Fastenal during the 4th quarter valued at $115,000. Cable Hill Partners LLC bought a new stake in shares of Fastenal during the 3rd quarter valued at $126,000. Finally, QS Investors LLC raised its position in shares of Fastenal by 1.6% during the 2nd quarter. QS Investors LLC now owns 4,051 shares of the company’s stock valued at $176,000 after purchasing an additional 63 shares during the period. Hedge funds and other institutional investors own 84.40% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Zacks: Brokerages Expect Fastenal (FAST) Will Announce Quarterly Sales of $1.16 Billion” was published by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright and trademark law. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2018/02/11/zacks-brokerages-expect-fastenal-fast-will-announce-quarterly-sales-of-1-16-billion.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.