Analysts Expect Fastenal (NASDAQ:FAST) to Post $0.36 Earnings Per Share

Wall Street analysts expect that Fastenal (NASDAQ:FAST) will report earnings per share of $0.36 for the current quarter, Zacks reports. Eight analysts have provided estimates for Fastenal’s earnings. The lowest EPS estimate is $0.35 and the highest is $0.37. Fastenal posted earnings of $0.35 per share in the same quarter last year, which indicates a positive year over year growth rate of 2.9%. The business is expected to issue its next earnings report on Wednesday, October 9th.

According to Zacks, analysts expect that Fastenal will report full year earnings of $1.38 per share for the current year, with EPS estimates ranging from $1.36 to $1.44. For the next year, analysts forecast that the business will report earnings of $1.48 per share, with EPS estimates ranging from $1.39 to $1.57. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Fastenal.

Fastenal (NASDAQ:FAST) last released its earnings results on Thursday, July 11th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. Fastenal had a return on equity of 32.27% and a net margin of 14.74%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the business earned $0.37 earnings per share.

FAST has been the subject of a number of recent analyst reports. Raymond James set a $19.00 target price on shares of Patterson-UTI Energy and gave the stock a “buy” rating in a research note on Friday, July 12th. Buckingham Research lowered their target price on shares of Fastenal from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. BidaskClub upgraded shares of Zebra Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 6th. ValuEngine cut shares of Verso from a “hold” rating to a “sell” rating in a research note on Thursday, May 23rd. Finally, Zacks Investment Research upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Fastenal has a consensus rating of “Hold” and an average price target of $31.31.

In other Fastenal news, insider Terry Modock Owen sold 1,875 shares of Fastenal stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $70.62, for a total transaction of $132,412.50. Following the completion of the sale, the insider now directly owns 5,375 shares in the company, valued at approximately $379,582.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sheryl Ann Lisowski sold 9,166 shares of Fastenal stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $64.22, for a total transaction of $588,640.52. Following the sale, the chief accounting officer now owns 9,466 shares of the company’s stock, valued at $607,906.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 143,541 shares of company stock valued at $10,082,603. Company insiders own 0.56% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in Fastenal by 1.8% in the first quarter. BlackRock Inc. now owns 20,274,336 shares of the company’s stock valued at $1,303,845,000 after buying an additional 354,493 shares during the period. Geode Capital Management LLC raised its position in Fastenal by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 4,165,575 shares of the company’s stock worth $217,478,000 after purchasing an additional 225,481 shares during the period. Northern Trust Corp raised its position in Fastenal by 1.8% in the 1st quarter. Northern Trust Corp now owns 3,726,840 shares of the company’s stock worth $239,673,000 after purchasing an additional 65,952 shares during the period. London Co. of Virginia purchased a new stake in Fastenal in the 4th quarter worth about $168,189,000. Finally, Riverbridge Partners LLC raised its position in Fastenal by 91.0% in the 2nd quarter. Riverbridge Partners LLC now owns 3,053,420 shares of the company’s stock worth $99,511,000 after purchasing an additional 1,454,579 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

FAST stock traded down $0.29 during trading on Thursday, reaching $30.30. The company had a trading volume of 5,236,081 shares, compared to its average volume of 4,750,529. The business has a 50-day simple moving average of $31.79. The firm has a market cap of $17.39 billion, a P/E ratio of 22.95, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 4.68. Fastenal has a twelve month low of $24.00 and a twelve month high of $35.94.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, July 25th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.90%. The ex-dividend date is Wednesday, July 24th. Fastenal’s payout ratio is 65.15%.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Earnings History and Estimates for Fastenal (NASDAQ:FAST)

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