Fastenal (NASDAQ:FAST) Forecasted to Post Q2 2024 Earnings of $0.54 Per Share

Fastenal (NASDAQ:FAST - Free Report) - Analysts at Zacks Research dropped their Q2 2024 earnings per share estimates for Fastenal in a research note issued to investors on Monday, April 22nd. Zacks Research analyst S. Mukherjee now anticipates that the company will post earnings of $0.54 per share for the quarter, down from their previous estimate of $0.56. The consensus estimate for Fastenal's current full-year earnings is $2.13 per share. Zacks Research also issued estimates for Fastenal's Q4 2024 earnings at $0.52 EPS, FY2024 earnings at $2.12 EPS, Q1 2025 earnings at $0.55 EPS, Q2 2025 earnings at $0.58 EPS, Q4 2025 earnings at $0.55 EPS, FY2025 earnings at $2.27 EPS, Q1 2026 earnings at $0.58 EPS and FY2026 earnings at $2.42 EPS.

A number of other equities analysts also recently commented on the company. Stifel Nicolaus upped their target price on Fastenal from $75.00 to $85.00 and gave the company a "buy" rating in a report on Monday, March 18th. Robert W. Baird decreased their target price on Fastenal from $77.00 to $71.00 and set a "neutral" rating for the company in a report on Friday, April 12th. Loop Capital decreased their target price on Fastenal from $71.00 to $66.00 and set a "hold" rating for the company in a report on Monday, April 15th. Finally, HSBC upped their target price on Fastenal from $59.00 to $64.00 and gave the company a "hold" rating in a report on Monday, April 15th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $67.67.

Fastenal Trading Up 0.1 %

FAST stock traded up $0.06 during midday trading on Tuesday, hitting $67.51. The company had a trading volume of 3,656,771 shares, compared to its average volume of 4,044,057. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. The stock has a market cap of $38.65 billion, a price-to-earnings ratio of 33.49, a PEG ratio of 3.53 and a beta of 1.05. The stock's 50 day moving average price is $73.57 and its 200 day moving average price is $66.55. Fastenal has a 52 week low of $52.28 and a 52 week high of $79.04.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The business's revenue for the quarter was up 1.9% compared to the same quarter last year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Wednesday, April 24th. Fastenal's dividend payout ratio is currently 77.23%.

Insider Buying and Selling at Fastenal

In other news, Director Daniel L. Johnson bought 3,350 shares of the company's stock in a transaction on Wednesday, April 17th. The shares were acquired at an average cost of $68.38 per share, with a total value of $229,073.00. Following the completion of the transaction, the director now owns 10,595 shares of the company's stock, valued at approximately $724,486.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Daniel L. Johnson acquired 3,350 shares of the stock in a transaction dated Wednesday, April 17th. The shares were purchased at an average cost of $68.38 per share, with a total value of $229,073.00. Following the transaction, the director now directly owns 10,595 shares in the company, valued at $724,486.10. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider William Joseph Drazkowski sold 11,968 shares of the business's stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $69.10, for a total value of $826,988.80. Following the completion of the transaction, the insider now directly owns 5,997 shares in the company, valued at $414,392.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,050 shares of company stock valued at $3,411,049. 0.41% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fastenal

Hedge funds have recently made changes to their positions in the stock. MCF Advisors LLC lifted its stake in shares of Fastenal by 2,172.2% during the 1st quarter. MCF Advisors LLC now owns 409 shares of the company's stock worth $32,000 after purchasing an additional 391 shares during the last quarter. Hartford Financial Management Inc. lifted its stake in shares of Fastenal by 46.9% during the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company's stock worth $31,000 after purchasing an additional 153 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Fastenal during the 4th quarter worth $35,000. Criterion Capital Advisors LLC acquired a new position in Fastenal during the 4th quarter valued at about $43,000. Finally, First Horizon Advisors Inc. increased its position in Fastenal by 283.2% during the 4th quarter. First Horizon Advisors Inc. now owns 755 shares of the company's stock valued at $49,000 after buying an additional 558 shares in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

About Fastenal

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