Zacks: Analysts Anticipate Big Lots, Inc. (BIG) Will Announce Quarterly Sales of $1.65 Billion

Brokerages expect Big Lots, Inc. (NYSE:BIG) to post $1.65 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Big Lots’ earnings, with estimates ranging from $1.60 billion to $1.68 billion. Big Lots posted sales of $1.58 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 4.4%. The firm is expected to announce its next quarterly earnings results on Friday, March 2nd.

On average, analysts expect that Big Lots will report full-year sales of $1.65 billion for the current year, with estimates ranging from $5.23 billion to $5.30 billion. For the next fiscal year, analysts forecast that the firm will report sales of $5.24 billion per share, with estimates ranging from $5.09 billion to $5.31 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Big Lots.

Big Lots (NYSE:BIG) last announced its earnings results on Friday, December 1st. The company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Big Lots had a return on equity of 30.17% and a net margin of 3.36%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the business earned $0.04 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis.

Several brokerages recently weighed in on BIG. Citigroup downgraded Big Lots from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 10th. They noted that the move was a valuation call. Zacks Investment Research upgraded Big Lots from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Tuesday, October 10th. KeyCorp restated a “buy” rating and set a $63.00 target price on shares of Big Lots in a research note on Friday, December 1st. Oppenheimer restated a “market perform” rating on shares of Big Lots in a research note on Wednesday, January 10th. Finally, Raymond James Financial reiterated a “buy” rating and set a $67.00 price target on shares of Big Lots in a research note on Saturday, December 2nd. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Big Lots presently has a consensus rating of “Buy” and an average target price of $61.73.

Big Lots (NYSE:BIG) opened at $57.74 on Monday. Big Lots has a one year low of $45.10 and a one year high of $64.42. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.24 and a current ratio of 1.66. The firm has a market capitalization of $2,426.99, a price-to-earnings ratio of 14.77, a P/E/G ratio of 0.87 and a beta of 0.95.

In other news, insider Timothy A. Johnson sold 20,000 shares of the business’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $55.00, for a total value of $1,100,000.00. Following the completion of the transaction, the insider now owns 65,649 shares of the company’s stock, valued at approximately $3,610,695. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey Paul Berger sold 6,000 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $58.00, for a total value of $348,000.00. Following the completion of the transaction, the director now directly owns 7,566 shares of the company’s stock, valued at approximately $438,828. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Csenge Advisory Group acquired a new position in Big Lots in the 3rd quarter worth about $218,000. Canada Pension Plan Investment Board raised its holdings in Big Lots by 20.2% in the 3rd quarter. Canada Pension Plan Investment Board now owns 90,299 shares of the company’s stock worth $4,837,000 after purchasing an additional 15,200 shares during the period. Quantitative Systematic Strategies LLC acquired a new position in Big Lots in the 3rd quarter worth about $615,000. Vident Investment Advisory LLC acquired a new position in Big Lots in the 3rd quarter worth about $2,959,000. Finally, Jane Street Group LLC acquired a new position in Big Lots in the 3rd quarter worth about $524,000.

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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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