Fastenal (NASDAQ:FAST) Expected to Announce Quarterly Sales of $1.31 Billion

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Brokerages predict that Fastenal (NASDAQ:FAST) will report sales of $1.31 billion for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Fastenal’s earnings. The highest sales estimate is $1.33 billion and the lowest is $1.29 billion. Fastenal posted sales of $1.23 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 6.5%. The company is scheduled to report its next earnings results on Thursday, January 16th.

On average, analysts expect that Fastenal will report full-year sales of $5.36 billion for the current fiscal year, with estimates ranging from $5.32 billion to $5.39 billion. For the next financial year, analysts anticipate that the business will report sales of $5.68 billion, with estimates ranging from $5.53 billion to $5.84 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Fastenal.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, October 11th. The company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. Fastenal had a return on equity of 32.03% and a net margin of 14.77%. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis.

Several research analysts have commented on the stock. Robert W. Baird boosted their price target on shares of Fastenal from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Monday. Stephens downgraded shares of Fastenal from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $36.00 to $37.00 in a research note on Monday. Zacks Investment Research downgraded shares of Fastenal from a “hold” rating to a “sell” rating and set a $38.00 target price for the company. in a research note on Monday. ValuEngine cut Fastenal from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Finally, Cleveland Research reaffirmed a “hold” rating on shares of Fastenal in a research report on Tuesday, September 24th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. Fastenal presently has an average rating of “Hold” and an average target price of $33.83.

In other news, Director Michael J. Ancius bought 1,104 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was purchased at an average cost of $30.13 per share, with a total value of $33,263.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel L. Johnson acquired 2,500 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was purchased at an average cost of $30.49 per share, with a total value of $76,225.00. The disclosure for this purchase can be found here. Insiders acquired 4,604 shares of company stock valued at $138,479 in the last 90 days. 0.62% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of FAST. Farmers & Merchants Investments Inc. boosted its stake in Fastenal by 94.0% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 774 shares of the company’s stock worth $25,000 after purchasing an additional 375 shares during the period. Advisors Preferred LLC acquired a new stake in shares of Fastenal during the second quarter worth about $26,000. Wealthcare Advisory Partners LLC boosted its stake in shares of Fastenal by 101.2% during the second quarter. Wealthcare Advisory Partners LLC now owns 843 shares of the company’s stock worth $27,000 after buying an additional 424 shares during the period. Clarus Wealth Advisors boosted its stake in shares of Fastenal by 101.2% during the second quarter. Clarus Wealth Advisors now owns 845 shares of the company’s stock worth $28,000 after buying an additional 425 shares during the period. Finally, FTB Advisors Inc. acquired a new stake in shares of Fastenal during the second quarter worth about $29,000. 83.96% of the stock is owned by institutional investors and hedge funds.

NASDAQ FAST traded up $0.38 on Friday, hitting $35.80. 291,879 shares of the stock were exchanged, compared to its average volume of 5,538,530. The company has a quick ratio of 2.06, a current ratio of 4.51 and a debt-to-equity ratio of 0.23. Fastenal has a fifty-two week low of $24.00 and a fifty-two week high of $36.58. The company has a market cap of $20.84 billion, a PE ratio of 27.12, a PEG ratio of 1.70 and a beta of 1.24. The company has a 50-day moving average price of $31.95 and a 200-day moving average price of $41.50.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Thursday, October 24th. Fastenal’s payout ratio is 66.67%.

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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