Q3 2018 EPS Estimates for Fastenal Raised by William Blair (FAST)
Fastenal (NASDAQ:FAST) – Stock analysts at William Blair boosted their Q3 2018 earnings per share estimates for shares of Fastenal in a research note issued to investors on Wednesday, October 10th. William Blair analyst R. Merkel now forecasts that the company will post earnings per share of $0.69 for the quarter, up from their prior forecast of $0.67. William Blair also issued estimates for Fastenal’s Q4 2018 earnings at $0.60 EPS, FY2018 earnings at $2.59 EPS, Q1 2019 earnings at $0.62 EPS, Q2 2019 earnings at $0.70 EPS, Q3 2019 earnings at $0.72 EPS, Q4 2019 earnings at $0.64 EPS, FY2019 earnings at $2.69 EPS and FY2020 earnings at $2.86 EPS.
Fastenal (NASDAQ:FAST) last posted its earnings results on Wednesday, October 10th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. Fastenal had a net margin of 14.57% and a return on equity of 30.82%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The firm’s revenue was up 13.0% on a year-over-year basis.
NASDAQ:FAST opened at $52.07 on Thursday. The company has a quick ratio of 2.57, a current ratio of 5.62 and a debt-to-equity ratio of 0.19. Fastenal has a 12 month low of $45.96 and a 12 month high of $61.14. The company has a market capitalization of $16.65 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 1.62 and a beta of 0.92.
Hedge funds have recently modified their holdings of the company. Cantillon Capital Management LLC bought a new position in Fastenal in the 2nd quarter worth $154,074,000. Morgan Stanley boosted its holdings in Fastenal by 35.3% in the 2nd quarter. Morgan Stanley now owns 2,184,270 shares of the company’s stock worth $105,130,000 after buying an additional 569,836 shares during the period. USS Investment Management Ltd bought a new position in Fastenal in the 2nd quarter worth $27,288,000. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Fastenal by 9,724.1% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 434,715 shares of the company’s stock worth $20,923,000 after buying an additional 430,290 shares during the period. Finally, Lord Abbett & CO. LLC bought a new position in Fastenal in the 1st quarter worth $23,037,000. 85.85% of the stock is owned by hedge funds and other institutional investors.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, October 24th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Tuesday, October 23rd. Fastenal’s payout ratio is 82.90%.
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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