Fastenal's Q3 Earnings Outlook: Analysts Expect 30 cents EPS, $2.13 Billion Revenue

Fastenal Company is set to release Q3 earnings on Oct. 13, with analysts expecting a 14% increase in earnings per share to 30 cents and a 11% rise in revenue to $2.13 billion. The company's stock fell 0.7% to close at $47.45 on Tuesday. Top Wall Street forecasters have revised their expectations for Fastenal ahead of the earnings release, with Baird analyst David Manthey upgrading the stock to Outperform and Stephens & Co. analyst Tommy Moll boosting the price target to $45.

Fastenal Company (FAST) is set to release its Q3 earnings on October 13, with analysts expecting a 14% increase in earnings per share (EPS) to 30 cents and a 11% rise in revenue to $2.13 billion. The company's stock fell 0.7% to close at $47.45 on Tuesday, following the recent earnings report and market updates.

Top Wall Street forecasters have revised their expectations for Fastenal ahead of the earnings release. Baird analyst David Manthey upgraded the stock to "Outperform," while Stephens & Co. analyst Tommy Moll boosted the price target to $45. These upgrades reflect the analysts' optimism about the company's performance and future prospects.

Analysts' forecasts for key metrics provide valuable insights into Fastenal's expected performance. The average prediction places 'Geographic Revenue - Canada and Mexico' at $288.95 million, with a year-over-year change of +9.4% Insights Into Fastenal (FAST) Q3: Wall Street Projections for Key Metrics^[1]. 'Geographic Revenue - North America' is projected to reach $2.05 billion, indicating a +10.8% year-over-year change. 'Geographic Revenue - All other foreign countries' is expected to reach $65.74 million, with a +11.6% change from the year-ago quarter. 'Geographic Revenue - United States' is anticipated to come in at $1.76 billion, showing a +11.1% year-over-year increase.

Analysts also expect 'Daily sales' to come in at $31.99, compared to the year-ago figure of $29.80. The consensus estimate for 'Weighted FASTBin/FASTVend signings (MEUs)' stands at 6,549, while 'Number of branch locations' is projected to reach 1,594. 'Weighted FASTBin/FASTVend installations (MEUs; end of period)' is expected to reach 136,653.

Fastenal's stock has witnessed a change of -0.9% in the past month, in contrast to the Zacks S&P 500 composite's +3.7% move. The company has a Zacks Rank #2 (Buy), indicating that it is expected to outperform the overall market performance in the near term Insights Into Fastenal (FAST) Q3: Wall Street Projections for Key Metrics^[1].

Institutional investors own 81.38% of the company's stock, with Confluence Wealth Services Inc. growing its position in shares of Fastenal by 102.2% during the 2nd quarter Confluence Wealth Services Inc. Boosts Stock Position in Fastenal Company $FAST^[2]. Other hedge funds have also recently bought and sold shares of the company, with Riverview Trust Co, Hilltop National Bank, Armstrong Advisory Group Inc., AdvisorNet Financial Inc., and Clean Yield Group increasing their stakes in Fastenal during the second quarter.

Fastenal's recent dividend restatement and insider activity also warrant attention. The company has restated its quarterly dividend at $0.22 per share, with a dividend yield of 1.8% and a payout ratio of 84.62%. EVP William Joseph Drazkowski sold 6,842 shares of the business's stock, while insider Jeffery Michael Watts sold 48,724 shares Confluence Wealth Services Inc. Boosts Stock Position in Fastenal Company $FAST^[2].

In conclusion, Fastenal Company is set to release its Q3 earnings on October 13, with analysts expecting strong performance. The company's stock has shown mixed performance in recent months, but the upgrades from top Wall Street forecasters suggest that investors may be optimistic about the company's future prospects. As always, investors should closely monitor the earnings release and subsequent analyst reactions to gauge the potential impact on Fastenal's stock price.