Brokerages expect Fastenal (NASDAQ:FAST) to report $0.67 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Fastenal’s earnings. The lowest EPS estimate is $0.66 and the highest is $0.68. Fastenal posted earnings of $0.50 per share during the same quarter last year, which indicates a positive year over year growth rate of 34%. The firm is scheduled to report its next earnings report on Wednesday, October 10th.

On average, analysts expect that Fastenal will report full-year earnings of $2.56 per share for the current fiscal year, with EPS estimates ranging from $2.51 to $2.60. For the next year, analysts anticipate that the company will report earnings of $2.80 per share, with EPS estimates ranging from $2.74 to $2.87. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Fastenal.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Wednesday, July 11th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.08. Fastenal had a net margin of 14.57% and a return on equity of 30.82%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the company earned $0.52 earnings per share. The business’s quarterly revenue was up 13.1% compared to the same quarter last year.

A number of analysts have recently weighed in on FAST shares. BidaskClub downgraded shares of Fastenal from a “hold” rating to a “sell” rating in a research report on Tuesday, July 3rd. Wolfe Research started coverage on shares of Fastenal in a research report on Wednesday, June 27th. They set an “underperform” rating for the company. Wells Fargo & Co raised their price target on shares of Fastenal from $49.00 to $53.00 and gave the stock a “market perform” rating in a research report on Thursday, July 12th. BMO Capital Markets decreased their price target on shares of Fastenal from $57.00 to $54.00 and set a “market perform” rating for the company in a research report on Friday, July 6th. Finally, Northcoast Research reissued a “buy” rating and set a $62.00 price target on shares of Fastenal in a research report on Friday, July 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $55.55.

A number of institutional investors and hedge funds have recently made changes to their positions in FAST. JPMorgan Chase & Co. lifted its stake in Fastenal by 966.5% during the first quarter. JPMorgan Chase & Co. now owns 9,852,355 shares of the company’s stock worth $537,841,000 after purchasing an additional 8,928,521 shares during the last quarter. Cantillon Capital Management LLC bought a new position in Fastenal during the second quarter worth $154,074,000. Morgan Stanley lifted its stake in Fastenal by 35.3% during the second quarter. Morgan Stanley now owns 2,184,270 shares of the company’s stock worth $105,130,000 after purchasing an additional 569,836 shares during the last quarter. USS Investment Management Ltd bought a new position in Fastenal during the second quarter worth $27,288,000. Finally, BlackRock Inc. lifted its stake in Fastenal by 2.8% during the first quarter. BlackRock Inc. now owns 19,049,422 shares of the company’s stock worth $1,039,910,000 after purchasing an additional 511,558 shares during the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Shares of FAST stock traded up $0.28 during mid-day trading on Thursday, reaching $57.98. 62,733 shares of the company were exchanged, compared to its average volume of 2,029,976. Fastenal has a fifty-two week low of $42.51 and a fifty-two week high of $61.14. The company has a current ratio of 5.62, a quick ratio of 2.57 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $16.90 billion, a P/E ratio of 29.88, a PEG ratio of 1.64 and a beta of 0.97.

About Fastenal

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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