Fastenal (FAST) Projected to Post Quarterly Earnings on Friday

Fastenal (NASDAQ:FAST) is projected to release 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. Parties that are interested in participating in the company’s conference call can do so using this link.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results 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 business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the firm posted $0.46 EPS. The company’s 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 Price Performance

Shares of NASDAQ FAST opened at $76.47 on Thursday. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88. The business has a 50 day moving average price of $75.37 and a two-hundred day moving average price of $76.24. The firm has a market cap of $43.85 billion, a PE ratio of 38.04, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were paid a dividend of $0.43 per share. This is a boost from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Friday, January 31st. Fastenal’s dividend payout ratio is 85.57%.

Hedge Funds Weigh In On Fastenal

A hedge fund recently bought a new stake in Fastenal stock. Brighton Jones LLC acquired a new position in shares of Fastenal (NASDAQ:FAST) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,899 shares of the company’s stock, valued at approximately $496,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Fastenal Company Profile

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.