Market Update: Fastenal Company (NASDAQ:FAST) – Fastenal Company Reports 2016 First Quarter Earnings

[GlobeNewswire] – WINONA, Minn., April 12, 2016– Fastenal Company of Winona, MN reported the results of the quarter ended March 31, 2016. Except for per share information, or as otherwise noted below, dollar amounts are … Read more on this. Fastenal Company (FAST) , with a current value of $13.20B, began trading this morning at $45.00. During the trading session, FAST traded between $45.00 to $46.18 with a one year range of $34.45 to $49.99. Fastenal (FAST) shares are currently priced at 25.37x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 13.98x earnings multiple for the same period. The company pays shareholders $1.20 per share annually in dividends, yielding 2.55%. Consensus earnings for the current quarter by the 14 sell-side analysts covering the stock is an estimate of $0.45 per share, which would be $0.02 better than the year-ago quarter and a $0.01 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $1.85, which would be a $0.08 improvement when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $988.60 Million. If realized, that would be a 3.70% increase over the year-ago quarter. Recently, Stifel downgraded FAST from Buy to Hold (Apr 1, 2016). Previously, Sterne Agee CRT Initiated FAST at to Neutral. With the above information in mind, readers should note that the average price target is $44.63, which is 0.82% below where the stock opened this morning. See more in (NASDAQ:FAST) Similar Articles: Stock Update: Fastenal Company (NASDAQ:FAST) – Fastenal Company Announces Conference Call to Review 2016 First Quarter Earnings Stock Update (NASDAQ:FAST): Fastenal Company Announces Conference Call to Review 2015 Annual and Fourth Quarter Earnings Stock Update (NASDAQ:FAST): Fastenal Company Reports 2015 Third Quarter Earnings
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