Fastenal (FAST) Expected to Announce Quarterly Sales of $1.39 Billion

Analysts expect Fastenal (NASDAQ:FAST) to report $1.39 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Fastenal’s earnings, with estimates ranging from $1.35 billion to $1.41 billion. Fastenal posted sales of $1.27 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.4%. The business is scheduled to report its next quarterly earnings results on Wednesday, July 10th.

On average, analysts expect that Fastenal will report full year sales of $5.43 billion for the current year, with estimates ranging from $5.33 billion to $5.53 billion. For the next year, analysts anticipate that the company will post sales of $5.81 billion, with estimates ranging from $5.64 billion to $6.05 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Fastenal.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Thursday, April 11th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Fastenal had a return on equity of 33.52% and a net margin of 15.16%. During the same period in the prior year, the business posted $0.61 earnings per share.

FAST has been the topic of a number of research reports. Morgan Stanley initiated coverage on Fastenal in a research note on Tuesday, December 18th. They set an “equal weight” rating and a $55.00 price target on the stock. Zacks Investment Research cut Fastenal from a “buy” rating to a “sell” rating in a research note on Thursday, January 3rd. Jefferies Financial Group initiated coverage on Fastenal in a research note on Monday, January 7th. They issued a “hold” rating and a $60.00 price objective on the stock. Wolfe Research upgraded Fastenal from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 8th. Finally, Buckingham Research set a $51.00 price objective on Fastenal and gave the company a “hold” rating in a research note on Friday, January 11th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $60.90.

Fastenal stock traded down $0.72 during mid-day trading on Friday, hitting $68.99. The company’s stock had a trading volume of 98,423 shares, compared to its average volume of 1,872,277. The firm has a market capitalization of $19.60 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 1.50 and a beta of 1.17. Fastenal has a 1 year low of $47.37 and a 1 year high of $69.79. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.37 and a current ratio of 4.31.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, April 24th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.49%. The ex-dividend date is Tuesday, April 23rd. Fastenal’s dividend payout ratio (DPR) is presently 65.40%.

In related news, Director Michael John Dolan sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, January 29th. The stock was sold at an average price of $60.00, for a total transaction of $150,000.00. Following the transaction, the director now owns 12,500 shares of the company’s stock, valued at $750,000. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Leland J. Hein sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $63.13, for a total value of $1,420,425.00. Following the transaction, the insider now directly owns 30,111 shares in the company, valued at approximately $1,900,907.43. The disclosure for this sale can be found here. Insiders sold 87,083 shares of company stock worth $5,458,662 in the last three months. 0.56% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama grew its holdings in shares of Fastenal by 0.7% during the first quarter. Retirement Systems of Alabama now owns 133,248 shares of the company’s stock worth $8,569,000 after buying an additional 918 shares during the last quarter. American National Bank purchased a new stake in Fastenal in the 1st quarter worth approximately $880,000. Mercer Global Advisors Inc. ADV purchased a new stake in Fastenal in the 1st quarter worth approximately $684,000. Gofen & Glossberg LLC IL purchased a new stake in Fastenal in the 1st quarter worth approximately $458,000. Finally, Fenimore Asset Management Inc. purchased a new stake in Fastenal in the 1st quarter worth approximately $7,708,000. 86.58% of the stock is currently owned by hedge funds and other institutional investors.

Fastenal Company Profile

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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