The average estimate of analysts polled by Thomson Reuters is calling for the Winona, Minn.-based wholesale of industrial and construction products to post a profit of 30 cents a share in June-ended period on revenue of $688.4 million.
Based on Monday's regular session close at $36, Fastenal shares are up a healthy 22% so far in 2011, but the company is facing some skepticism on Wall Street with seven of the 11 analysts covering the stock rating it a hold. The track record is spotty with Fastenal missing in four of its past eight quarters, though it's topped consensus three of the last four times out.
Other companies opening their books tomorrow include Wolverine Worldwide (WWW - Get Report) and Infosys Technologies (INFY - Get Report) before the opening bell, and Tuesday Morning Corp. (TUES - Get Report) after the close.Tuesday's action will probably take a bigger cue from Monday's late reports as Alcoa (AA - Get Report) issued confusing numbers -- a big beat on the top line that translated to in-line results after the consensus number ticked down a penny over the weekend -- and the stock was stalled in late trades. The other attention-getter was Microchip Technology (MCHP - Get Report), which not only warned about its June quarter but took down expectations for the September-ending period too, intimating the much of the semiconductor industry may be in for a rough patch because widespread global economic weakness. The warning was just the latest in what's been both a busy and inordinately negative preannouncement season. -- Written by Michael Baron in New York.
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