Unlocking Q2 Potential of Fastenal (FAST): Exploring Wall Street Estimates for Key Metrics
Wall Street analysts forecast that Fastenal (FAST) will report quarterly earnings of $0.51 per share in its upcoming release, pointing to a year-over-year decline of 1.9%. It is anticipated that revenues will amount to $1.93 billion, exhibiting an increase of 2.4% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 3.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Fastenal metrics that are commonly monitored and projected by Wall Street analysts.
Analysts expect 'Business days' to come in at 64.00 Days. The estimate is in contrast to the year-ago figure of 64 Days.
The consensus estimate for 'Number of in-market locations' stands at 3,495. Compared to the present estimate, the company reported 3,363 in the same quarter last year.
It is projected by analysts that the 'Daily sales' will reach $30.15. Compared to the current estimate, the company reported $29.40 in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Weighted FASTBin/FASTVend installations' will likely reach 118,313. The estimate compares to the year-ago value of 107,115.
Based on the collective assessment of analysts, 'Number of active Onsite locations' should arrive at 1,916. The estimate is in contrast to the year-ago figure of 1,728.
The average prediction of analysts places 'Number of branch locations' at 1,578. The estimate is in contrast to the year-ago figure of 1,635.
Analysts forecast 'Weighted FASTBin/FASTVend signings' to reach 7,194. Compared to the current estimate, the company reported 6,794 in the same quarter of the previous year.
View all Key Company Metrics for Fastenal here>>>
Over the past month, shares of Fastenal have returned -1.6% versus the Zacks S&P 500 composite's +5.1% change. Currently, FAST carries a Zacks Rank #4 (Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Fastenal Company (FAST) : Free Stock Analysis Report
