Equities Analysts Offer Predictions for Fastenal’s FY2024 Earnings (NASDAQ:FAST)

Fastenal (NASDAQ:FAST) – Research analysts at William Blair lifted their FY2024 EPS estimates for shares of Fastenal in a research note issued on Tuesday, March 26th. William Blair analyst R. Merkel now expects that the company will post earnings of $2.16 per share for the year, up from their prior estimate of $2.15. The consensus estimate for Fastenal’s current full-year earnings is $2.15 per share. William Blair also issued estimates for Fastenal’s FY2025 earnings at $2.30 EPS.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Thursday, January 18th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. Fastenal had a return on equity of 34.31% and a net margin of 15.72%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $0.43 earnings per share.

FAST has been the subject of several other reports. Stifel Nicolaus raised their price objective on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Robert W. Baird raised their price objective on Fastenal from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $64.50.

Fastenal Price Performance

NASDAQ:FAST opened at $77.14 on Wednesday. The firm has a market capitalization of $44.14 billion, a price-to-earnings ratio of 38.19, a PEG ratio of 3.97 and a beta of 1.05. Fastenal has a 1 year low of $50.30 and a 1 year high of $79.04. The business has a 50 day simple moving average of $72.29 and a 200-day simple moving average of $64.18. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.57 and a quick ratio of 2.27.

Institutional Trading of Fastenal

A number of institutional investors have recently made changes to their positions in the business. Roundview Capital LLC lifted its position in Fastenal by 0.6% during the 1st quarter. Roundview Capital LLC now owns 85,339 shares of the company’s stock worth $5,069,000 after acquiring an additional 479 shares during the period. Vontobel Holding Ltd. raised its stake in shares of Fastenal by 55.3% during the 1st quarter. Vontobel Holding Ltd. now owns 19,099 shares of the company’s stock valued at $1,140,000 after buying an additional 6,797 shares during the last quarter. Sei Investments Co. raised its stake in shares of Fastenal by 18.1% during the 1st quarter. Sei Investments Co. now owns 239,760 shares of the company’s stock valued at $14,218,000 after buying an additional 36,709 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Fastenal by 24.6% during the 1st quarter. Cetera Investment Advisers now owns 26,251 shares of the company’s stock valued at $1,559,000 after buying an additional 5,190 shares during the last quarter. Finally, Moors & Cabot Inc. raised its stake in shares of Fastenal by 9.0% during the 1st quarter. Moors & Cabot Inc. now owns 9,534 shares of the company’s stock valued at $566,000 after buying an additional 786 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insiders Place Their Bets

In other Fastenal news, VP Charles S. Miller sold 23,590 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $69.25, for a total transaction of $1,633,607.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Fastenal news, VP Charles S. Miller sold 23,590 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $69.25, for a total transaction of $1,633,607.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Reyne K. Wisecup sold 34,042 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $68.48, for a total value of $2,331,196.16. Following the sale, the director now directly owns 20,000 shares in the company, valued at approximately $1,369,600. The disclosure for this sale can be found here. Insiders have sold 105,682 shares of company stock worth $7,375,853 in the last ninety days. 0.41% of the stock is owned by company insiders.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 1st were issued a dividend of $0.39 per share. This is an increase from Fastenal’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a yield of 2.02%. The ex-dividend date was Wednesday, January 31st. Fastenal’s dividend payout ratio (DPR) is presently 77.23%.

Fastenal Company Profile

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.