Fastenal (FAST) Expected to Announce Quarterly Earnings on Friday

Fastenal (NASDAQ:FAST) is expected to be releasing its earnings data before the market opens on Friday, April 11th. Analysts expect Fastenal to post earnings of $0.52 per share and revenue of $1.94 billion for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the business earned $0.46 EPS. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, analysts expect Fastenal to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Fastenal Stock Performance

FAST opened at $71.20 on Wednesday. The company has a 50 day simple moving average of $75.27 and a two-hundred day simple moving average of $76.20. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. The firm has a market cap of $40.83 billion, a P/E ratio of 35.42, a PEG ratio of 3.58 and a beta of 1.05. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were given a dividend of $0.43 per share. The ex-dividend date was Friday, January 31st. This represents a $1.72 annualized dividend and a dividend yield of 2.42%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio (DPR) is currently 85.57%.

Institutional Trading of Fastenal

A hedge fund recently bought a new stake in Fastenal stock. Brighton Jones LLC bought a new position in Fastenal (NASDAQ:FAST) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 6,899 shares of the company’s stock, valued at approximately $496,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Hsbc Global Res downgraded shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price on the stock. in a report on Wednesday, December 11th. William Blair raised Fastenal from a “market perform” rating to an “outperform” rating in a research note on Monday, March 10th. Stifel Nicolaus cut their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Finally, Wolfe Research raised Fastenal from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $76.91.

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.