$1.12 Billion in Sales Expected for Big Lots, Inc. (BIG) This Quarter
Analysts expect that Big Lots, Inc. (NYSE:BIG) will post $1.12 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Big Lots’ earnings. The lowest sales estimate is $1.11 billion and the highest is $1.12 billion. Big Lots posted sales of $1.11 billion in the same quarter last year, which suggests a positive year over year growth rate of 0.9%. The firm is scheduled to report its next quarterly earnings report on Friday, December 1st.
On average, analysts expect that Big Lots will report full year sales of $1.12 billion for the current financial year, with estimates ranging from $5.24 billion to $5.31 billion. For the next fiscal year, analysts anticipate that the business will post sales of $5.27 billion per share, with estimates ranging from $5.23 billion to $5.35 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Big Lots.
Big Lots (NYSE:BIG) last posted its earnings results on Friday, August 25th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.05. Big Lots had a net margin of 3.31% and a return on equity of 30.32%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the company posted $0.52 earnings per share. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year.
Several brokerages have commented on BIG. Zacks Investment Research upgraded Big Lots from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Thursday, August 17th. BidaskClub upgraded Big Lots from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Big Lots in a report on Wednesday, September 20th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Big Lots presently has an average rating of “Buy” and a consensus price target of $57.83.
Big Lots (NYSE BIG) opened at 52.52 on Friday. Big Lots has a 52-week low of $42.40 and a 52-week high of $56.54. The firm has a market capitalization of $2.23 billion, a PE ratio of 13.61 and a beta of 0.96. The stock’s 50 day moving average is $50.70 and its 200-day moving average is $49.32.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were given a $0.25 dividend. The ex-dividend date was Thursday, September 7th. This represents a $1.00 annualized dividend and a dividend yield of 1.90%. Big Lots’s dividend payout ratio is 26.04%.
In other news, CEO David J. Campisi sold 96,940 shares of the stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $53.00, for a total value of $5,137,820.00. Following the completion of the sale, the chief executive officer now directly owns 99,203 shares of the company’s stock, valued at $5,257,759. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ronald A. Robins, Jr. sold 1,000 shares of the stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $51.00, for a total value of $51,000.00. Following the completion of the sale, the insider now directly owns 7,925 shares of the company’s stock, valued at $404,175. The disclosure for this sale can be found here. Insiders sold 171,517 shares of company stock valued at $8,906,771 over the last three months. 1.70% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of BIG. IFP Advisors Inc lifted its position in Big Lots by 13.6% in the second quarter. IFP Advisors Inc now owns 2,334 shares of the company’s stock worth $113,000 after purchasing an additional 280 shares during the period. LS Investment Advisors LLC lifted its position in Big Lots by 19.4% in the second quarter. LS Investment Advisors LLC now owns 3,668 shares of the company’s stock worth $177,000 after purchasing an additional 596 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in Big Lots by 1.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,945 shares of the company’s stock worth $191,000 after purchasing an additional 68 shares during the period. BKS Advisors LLC bought a new position in Big Lots in the second quarter worth $203,000. Finally, WASHINGTON TRUST Co bought a new position in Big Lots in the second quarter worth $205,000.
About Big Lots
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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