Fastenal (NASDAQ:FAST) to Post Q3 2024 Earnings of $0.52 Per Share, Zacks Research Forecasts

Fastenal (NASDAQ:FAST) – Equities research analysts at Zacks Research lowered their Q3 2024 earnings per share estimates for Fastenal in a report released on Thursday, August 1st. Zacks Research analyst S. Mukherjee now anticipates that the company will earn $0.52 per share 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 research reports. Loop Capital dropped their price target on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. HSBC boosted their target price on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 price target (down from $85.00) on shares of Fastenal in a research report on Monday, July 15th. Robert W. Baird cut their price objective on Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $56.00 target price on shares of Fastenal in a report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $66.67.

Fastenal Stock Down 0.2 %

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

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

Fastenal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, July 26th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.56 annualized dividend and a dividend yield of 2.32%. Fastenal’s dividend payout ratio (DPR) is currently 77.61%.

Insider Activity at Fastenal

In related news, Director Hsenghung Sam Hsu acquired 500 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were bought at an average cost of $63.28 per share, with a total value of $31,640.00. Following the completion of the acquisition, the director now owns 3,500 shares of the company’s stock, valued at $221,480. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Hsenghung Sam Hsu acquired 500 shares of the business’s stock in a transaction on Monday, June 10th. The stock was bought at an average cost of $63.28 per share, with a total value of $31,640.00. Following the completion of the acquisition, the director now owns 3,500 shares in the company, valued at $221,480. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP James C. Jansen sold 11,428 shares of the company’s stock in a transaction dated 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 directly owns 26,176 shares in the company, valued at approximately $1,677,096.32. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fastenal

A number of large investors have recently bought and sold shares of FAST. MCF Advisors LLC boosted its stake in Fastenal by 2,172.2% in the first quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after purchasing an additional 391 shares in the last quarter. Central Valley Advisors LLC bought a new position in shares of Fastenal in the second quarter valued at about $28,000. Hartford Financial Management Inc. lifted its position in Fastenal by 46.9% during 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 in the last quarter. LRI Investments LLC bought a new stake in Fastenal during the 1st quarter worth about $39,000. Finally, Triad Wealth Partners LLC acquired a new stake in Fastenal in the 2nd quarter valued at about $32,000. 81.38% of the stock is currently owned by institutional investors.

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.