Wall Street brokerages expect Fastenal (NASDAQ:FAST - Get Rating) to announce $1.78 billion in sales for the current quarter, according to Zacks. Five analysts have made estimates for Fastenal's earnings, with the lowest sales estimate coming in at $1.72 billion and the highest estimate coming in at $1.83 billion. Fastenal reported sales of $1.51 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 17.9%. The firm is expected to issue its next earnings report before the market opens on Monday, January 1st.
On average, analysts expect that Fastenal will report full-year sales of $6.93 billion for the current financial year, with estimates ranging from $6.78 billion to $7.00 billion. For the next financial year, analysts forecast that the company will post sales of $7.42 billion, with estimates ranging from $7.23 billion to $7.53 billion. Zacks' sales averages are an average based on a survey of research firms that cover Fastenal.
Fastenal (NASDAQ:FAST - Get Rating) last issued its earnings results on Wednesday, April 13th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.03. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.69 billion. Fastenal had a return on equity of 32.72% and a net margin of 15.63%. Fastenal's revenue was up 20.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 EPS.
Several research analysts have recently commented on FAST shares. Robert W. Baird boosted their price target on Fastenal from $64.00 to $66.00 in a research report on Monday, March 7th. Wells Fargo & Company boosted their price target on Fastenal from $58.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 14th. Morgan Stanley boosted their price target on Fastenal from $53.00 to $56.00 and gave the stock an "underweight" rating in a research report on Thursday, April 14th. Finally, StockNews.com lowered Fastenal from a "buy" rating to a "hold" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Fastenal has an average rating of "Hold" and an average price target of $60.17.
In other news, Director Michael J. Ancius purchased 650 shares of the company's stock in a transaction on Thursday, April 14th. The shares were acquired at an average price of $56.41 per share, for a total transaction of $36,666.50. Following the purchase, the director now owns 25,952 shares in the company, valued at $1,463,952.32. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael J. Ancius purchased 1,000 shares of the company's stock in a transaction on Wednesday, May 11th. The shares were purchased at an average price of $51.00 per share, for a total transaction of $51,000.00. Following the purchase, the director now owns 27,587 shares in the company, valued at approximately $1,406,937. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,885 shares of company stock worth $100,509 over the last ninety days. 0.40% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. Mascoma Wealth Management LLC purchased a new stake in shares of Fastenal in the fourth quarter worth about $26,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Fastenal in the fourth quarter worth about $33,000. GHP Investment Advisors Inc. purchased a new stake in shares of Fastenal in the first quarter worth about $31,000. O Dell Group LLC purchased a new stake in shares of Fastenal in the first quarter worth about $32,000. Finally, Cornerstone Advisory LLC purchased a new stake in shares of Fastenal in the fourth quarter worth about $38,000. Institutional investors and hedge funds own 77.89% of the company's stock.
Shares of NASDAQ FAST opened at $52.69 on Friday. The company has a quick ratio of 1.92, a current ratio of 4.07 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $56.44 and a two-hundred day simple moving average of $57.62. The firm has a market cap of $30.33 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. Fastenal has a twelve month low of $48.84 and a twelve month high of $64.75.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 25th. Investors of record on Wednesday, April 27th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.35%. The ex-dividend date is Tuesday, April 26th. Fastenal's dividend payout ratio is currently 72.52%.
Fastenal Company Profile (Get Rating)
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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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