The Research Analysts Set Expectations for Fastenal Company’s Q3 2017 Earnings (NASDAQ:FAST)

The Research Analysts Set Expectations for Fastenal Company’s Q3 2017 Earnings (NASDAQ:FAST)

Fastenal Company (NASDAQ:FAST) last issued its quarterly earnings results on Wednesday, July 12th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. Fastenal Company had a net margin of 12.71% and a return on equity of 26.86%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the business posted $0.46 earnings per share. Fastenal Company’s revenue for the quarter was up 10.6% compared to the same quarter last year.

Fastenal Company (NASDAQ:FAST) – Stock analysts at KeyCorp upped their Q3 2017 earnings estimates for Fastenal Company in a research report issued on Wednesday. KeyCorp analyst S. Barger now forecasts that the company will post earnings of $0.51 per share for the quarter, up from their prior forecast of $0.50. KeyCorp also issued estimates for Fastenal Company’s Q4 2017 earnings at $0.46 EPS, FY2017 earnings at $1.94 EPS, Q1 2018 earnings at $0.50 EPS, Q2 2018 earnings at $0.56 EPS, Q3 2018 earnings at $0.56 EPS, Q4 2018 earnings at $0.51 EPS and FY2018 earnings at $2.12 EPS.

A number of other equities analysts have also commented on FAST. Longbow Research raised shares of Fastenal Company from a “neutral” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Friday, June 2nd. Credit Suisse Group raised shares of Fastenal Company from a “neutral” rating to an “outperform” rating and set a $55.00 price target on the stock in a research report on Wednesday, April 19th. Argus raised shares of Fastenal Company from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Tuesday, April 18th. Raymond James Financial, Inc. raised shares of Fastenal Company from a “market perform” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Wednesday, April 19th. Finally, Zacks Investment Research raised shares of Fastenal Company from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Tuesday, March 21st. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $49.97.

Shares of Fastenal Company (FAST) opened at 42.88 on Friday. The stock has a 50 day moving average of $43.41 and a 200 day moving average of $47.58. Fastenal Company has a 52-week low of $37.70 and a 52-week high of $52.74. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 23.60 and a beta of 0.99.

A number of large investors have recently bought and sold shares of FAST. HighPoint Advisor Group LLC increased its stake in Fastenal Company by 43.3% in the fourth quarter. HighPoint Advisor Group LLC now owns 23,322 shares of the company’s stock worth $1,189,000 after buying an additional 7,042 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Fastenal Company during the first quarter worth $191,000. FMR LLC increased its stake in Fastenal Company by 893.7% in the fourth quarter. FMR LLC now owns 1,145,853 shares of the company’s stock worth $53,832,000 after buying an additional 1,030,536 shares in the last quarter. Commerce Bank increased its stake in Fastenal Company by 14.4% in the first quarter. Commerce Bank now owns 44,807 shares of the company’s stock worth $2,307,000 after buying an additional 5,634 shares in the last quarter. Finally, Pegasus Partners Ltd. increased its stake in Fastenal Company by 88.8% in the fourth quarter. Pegasus Partners Ltd. now owns 64,480 shares of the company’s stock worth $3,029,000 after buying an additional 30,324 shares in the last quarter. Hedge funds and other institutional investors own 82.32% of the company’s stock.

In other Fastenal Company news, CFO Holden Lewis purchased 1,000 shares of the firm’s stock in a transaction on Thursday, May 25th. The shares were purchased at an average price of $43.76 per share, for a total transaction of $43,760.00. Following the completion of the purchase, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at $43,760. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Darren R. Jackson purchased 5,000 shares of the firm’s stock in a transaction on Friday, April 28th. The shares were acquired at an average price of $44.75 per share, for a total transaction of $223,750.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 6,700 shares of company stock worth $299,343. 0.55% of the stock is currently owned by corporate insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, July 26th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Monday, July 24th. This represents a $1.28 annualized dividend and a dividend yield of 2.99%. Fastenal Company’s payout ratio is 70.33%.

About Fastenal Company

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.

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