Big Lots, Inc. (NYSE:BIG) Expected to Post Quarterly Sales of $1.21 Billion
Wall Street analysts expect that Big Lots, Inc. (NYSE:BIG) will announce $1.21 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Big Lots’ earnings, with estimates ranging from $1.19 billion to $1.22 billion. Big Lots posted sales of $1.20 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 0.8%. The firm is expected to report its next quarterly earnings results on Friday, August 25th.
According to Zacks, analysts expect that Big Lots will report full year sales of $1.21 billion for the current fiscal year, with estimates ranging from $5.22 billion to $5.33 billion. For the next fiscal year, analysts expect that the business will report sales of $5.23 billion per share, with estimates ranging from $5.14 billion to $5.28 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Big Lots.
Big Lots (NYSE:BIG) last released its earnings results on Friday, May 26th. The company reported $1.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.16. Big Lots had a net margin of 3.20% and a return on equity of 29.88%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the firm earned $0.82 EPS. The company’s revenue was down 1.2% compared to the same quarter last year.
BIG has been the subject of several recent research reports. Raymond James Financial, Inc. upgraded shares of Big Lots from a “market perform” rating to a “strong-buy” rating and set a $60.00 target price for the company in a research report on Wednesday, April 26th. Zacks Investment Research upgraded shares of Big Lots from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Monday, May 8th. Oppenheimer Holdings, Inc. set a $60.00 target price on shares of Big Lots and gave the company a “buy” rating in a research report on Saturday, May 27th. Loop Capital restated a “buy” rating and set a $64.00 target price on shares of Big Lots in a research report on Tuesday, May 30th. Finally, ValuEngine lowered shares of Big Lots from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Big Lots has an average rating of “Buy” and a consensus price target of $57.00.
Big Lots (NYSE:BIG) traded up 0.31% on Wednesday, hitting $48.28. 770,493 shares of the stock were exchanged. The company has a 50-day moving average of $48.30 and a 200-day moving average of $49.38. Big Lots has a 12 month low of $42.40 and a 12 month high of $56.54. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 13.11 and a beta of 0.85.
The company also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Friday, June 9th were given a $0.25 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.07%. Big Lots’s payout ratio is currently 27.25%.
In other news, insider Michael Allen Schlonsky sold 15,000 shares of the business’s stock in a transaction on Monday, April 24th. The shares were sold at an average price of $49.98, for a total value of $749,700.00. Following the transaction, the insider now owns 52,104 shares of the company’s stock, valued at $2,604,157.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lisa M. Bachmann sold 9,538 shares of the business’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $51.09, for a total transaction of $487,296.42. Following the completion of the transaction, the insider now directly owns 45,920 shares in the company, valued at approximately $2,346,052.80. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Somerset Trust Co increased its position in Big Lots by 0.5% in the second quarter. Somerset Trust Co now owns 11,008 shares of the company’s stock valued at $531,000 after buying an additional 54 shares during the period. Quotient Investors LLC increased its position in Big Lots by 1.0% in the first quarter. Quotient Investors LLC now owns 10,100 shares of the company’s stock valued at $492,000 after buying an additional 100 shares during the period. Putnam Investments LLC increased its position in Big Lots by 1.5% in the fourth quarter. Putnam Investments LLC now owns 10,157 shares of the company’s stock valued at $509,000 after buying an additional 154 shares during the period. Advantus Capital Management Inc increased its position in Big Lots by 3.1% in the first quarter. Advantus Capital Management Inc now owns 5,705 shares of the company’s stock valued at $278,000 after buying an additional 173 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in Big Lots by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 15,531 shares of the company’s stock valued at $756,000 after buying an additional 200 shares during the period.
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Big Lots Company Profile
Big Lots, Inc is a non-traditional, discount retailer operating in the United States. As of January 28, 2017, the Company operated a total of 1,432 stores. The Company operates through the discount retailing segment. As of January 28, 2017, the Company’s stores are located at various states of the United States, such as Alabama, Arizona, California, Colorado, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Kentucky, Maine, Michigan, Montana, Nevada, Nebraska, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, Texas, Utah and Washington.
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