FY2016 EPS Estimates for Fastenal Co. (FAST) Decreased by Analyst
Fastenal Co. (NASDAQ:FAST) – Equities research analysts at William Blair lowered their FY2016 earnings estimates for Fastenal in a research report issued to clients and investors on Tuesday. William Blair analyst R. Merkel now expects that the firm will earn $1.71 per share for the year, down from their prior forecast of $1.73. William Blair also issued estimates for Fastenal’s Q4 2016 earnings at $0.38 EPS, Q1 2017 earnings at $0.45 EPS, Q2 2017 earnings at $0.47 EPS, Q3 2017 earnings at $0.47 EPS, Q4 2017 earnings at $0.41 EPS and FY2018 earnings at $2.00 EPS.
Fastenal (NASDAQ:FAST) last announced its earnings results on Tuesday, October 11th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.01. Fastenal had a net margin of 12.61% and a return on equity of 26.84%. The company had revenue of $1.01 billion for the quarter. During the same period in the previous year, the firm posted $0.47 EPS. Fastenal’s revenue was up 1.8% compared to the same quarter last year.
A number of other equities analysts have also weighed in on FAST. Credit Suisse Group AG reissued a “neutral” rating and issued a $43.00 target price on shares of Fastenal in a research report on Friday, June 17th. Morgan Stanley began coverage on shares of Fastenal in a research report on Thursday, July 7th. They set an “equal weight” rating and a $46.00 price target for the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $47.00 price target on shares of Fastenal in a research report on Wednesday, July 13th. Zacks Investment Research lowered shares of Fastenal from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 14th. Finally, Macquarie began coverage on shares of Fastenal in a research report on Thursday, August 25th. They set a “neutral” rating and a $50.00 price target for the company. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the company’s stock. Fastenal presently has an average rating of “Hold” and an average price target of $47.15.
Shares of Fastenal (NASDAQ:FAST) opened at 38.34 on Thursday. Fastenal has a 12 month low of $35.10 and a 12 month high of $49.99. The firm’s 50-day moving average is $41.29 and its 200 day moving average is $43.99. The company has a market capitalization of $11.08 billion, a price-to-earnings ratio of 21.91 and a beta of 0.99.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Tuesday, October 25th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, October 21st. This represents a $1.20 annualized dividend and a yield of 3.13%. Fastenal’s payout ratio is 69.77%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. FineMark National Bank & Trust increased its position in Fastenal by 0.6% in the second quarter. FineMark National Bank & Trust now owns 3,420 shares of the company’s stock valued at $152,000 after buying an additional 20 shares during the last quarter. Strategic Advisors LLC increased its position in Fastenal by 0.4% in the second quarter. Strategic Advisors LLC now owns 13,304 shares of the company’s stock worth $591,000 after buying an additional 47 shares in the last quarter. Raymond James Trust N.A. increased its position in Fastenal by 0.3% in the third quarter. Raymond James Trust N.A. now owns 16,934 shares of the company’s stock worth $708,000 after buying an additional 48 shares in the last quarter. Washington Trust Bank increased its position in Fastenal by 2.3% in the second quarter. Washington Trust Bank now owns 2,762 shares of the company’s stock worth $123,000 after buying an additional 62 shares in the last quarter. Finally, First Allied Advisory Services Inc. increased its position in Fastenal by 0.5% in the second quarter. First Allied Advisory Services Inc. now owns 14,726 shares of the company’s stock worth $652,000 after buying an additional 79 shares in the last quarter. Institutional investors and hedge funds own 82.12% of the company’s stock.
Fastenal Company Profile
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company distributes these supplies through a network of approximately 2,600 Company-owned stores. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business.
Receive News & Ratings for Fastenal Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal Co. and related companies with MarketBeat.com's FREE daily email newsletter.