Research Analysts Issue Forecasts for Fastenal’s Q3 2024 Earnings (NASDAQ:FAST)

Fastenal (NASDAQ:FAST) – Analysts at Zacks Research dropped their Q3 2024 earnings per share (EPS) estimates for Fastenal in a research note issued to investors on Thursday, August 1st. Zacks Research analyst S. Mukherjee now forecasts that the company will post earnings per share of $0.52 for the quarter, down from their prior estimate of $0.54. The consensus estimate for Fastenal’s current full-year earnings is $2.05 per share. Zacks Research also issued estimates for Fastenal’s Q4 2024 earnings at $0.50 EPS, FY2024 earnings at $2.05 EPS, Q1 2025 earnings at $0.54 EPS, Q2 2025 earnings at $0.56 EPS, Q3 2025 earnings at $0.57 EPS, Q4 2025 earnings at $0.54 EPS, FY2025 earnings at $2.21 EPS, Q2 2026 earnings at $0.60 EPS and FY2026 earnings at $2.37 EPS.

FAST has been the topic of a number of other reports. Jefferies Financial Group dropped their target price on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Robert W. Baird cut their price target on Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Stephens reissued an “equal weight” rating and issued a $56.00 price target on shares of Fastenal in a report on Monday, July 15th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 target price (down previously from $85.00) on shares of Fastenal in a research report on Monday, July 15th. Finally, HSBC lifted their price target on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, April 15th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Fastenal has an average rating of “Hold” and an average target price of $66.67.

Fastenal Price Performance

Shares of FAST opened at $67.30 on Friday. The company has a quick ratio of 2.29, a current ratio of 4.39 and a debt-to-equity ratio of 0.04. Fastenal has a twelve month low of $53.83 and a twelve month high of $79.04. The stock has a market capitalization of $38.54 billion, a P/E ratio of 33.48, a P/E/G ratio of 3.65 and a beta of 1.01. The company has a 50 day moving average of $65.51 and a 200-day moving average of $69.08.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Friday, July 12th. The company reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. Fastenal’s revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 earnings per share.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, July 26th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, July 26th. This represents a $1.56 dividend on an annualized basis and a yield of 2.32%. Fastenal’s dividend payout ratio is currently 77.61%.

Insider Buying and Selling at Fastenal

In other news, EVP James C. Jansen sold 11,428 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total transaction of $732,191.96. Following the completion of the sale, the executive vice president now directly owns 26,176 shares in the company, valued at $1,677,096.32. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, EVP James C. Jansen sold 11,428 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $64.07, for a total transaction of $732,191.96. Following the completion of the sale, the executive vice president now owns 26,176 shares of the company’s stock, valued at $1,677,096.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hsenghung Sam Hsu purchased 500 shares of the business’s stock in a transaction on Monday, June 10th. The shares were acquired at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the completion of the acquisition, the director now directly owns 3,500 shares in the company, valued at approximately $221,480. The disclosure for this purchase can be found here. Corporate insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Fastenal

Several hedge funds and other institutional investors have recently modified their holdings of FAST. MCF Advisors LLC boosted its holdings in Fastenal by 2,172.2% during the first quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after purchasing an additional 391 shares during the last quarter. Central Valley Advisors LLC bought a new position in Fastenal in the 2nd quarter worth about $28,000. Hartford Financial Management Inc. increased its holdings in shares of Fastenal by 46.9% in the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after buying an additional 153 shares during the last quarter. LRI Investments LLC purchased a new position in shares of Fastenal in the 1st quarter worth about $39,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Fastenal in the 2nd quarter valued at $32,000. Institutional investors own 81.38% of the company’s stock.

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.