Company Update (NASDAQ:FAST): Fastenal Company Announces Cash Dividend

[GlobeNewswire] – WINONA, Minn., July 11, 2016– The Fastenal Company of Winona, MN reported its board of directors declared a dividend of $0.30 per share to be paid in cash on August 23, 2016 to shareholders of record … Read more on this. Fastenal Company (FAST) , with a current value of $13.10B, opened at $45.42. Today, shares have traded between $45.28 and $45.83 per share with a trailing 52-week range being $34.45 to $49.99. Fastenal (FAST) shares are currently priced at 24.99x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 13.23x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $1.20 per share annually in dividends, yielding 2.65%. In a review of the consensus earnings estimate this quarter, 15 sell-side analysts are looking at $0.48 per share, which would be $0.00 worse than the year-ago quarter and a $0.01 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $1.81, which would be a $0.04 improvement when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $1.02 Billion. If reported, that would be a 2.22% increase over the year-ago quarter. More recently, Morgan Stanley Initiated FAST at Equal-Weight (Jul 7, 2016). Previously, Stifel downgraded FAST from Buy to Hold. Investors should keep in mind is that the average price target is $44.25, which is 2.58% below where the stock opened this morning. See more in (NASDAQ:FAST) Similar Articles: Stock Update (NASDAQ:FAST): Fastenal Company Announces Conference Call to Review 2016 Second Quarter Earnings Market Update: Fastenal Company (NASDAQ:FAST) – Fastenal Company Reports 2016 First Quarter Earnings Stock Update: Fastenal Company (NASDAQ:FAST) – Fastenal Company Announces Conference Call to Review 2016 First Quarter Earnings
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