Analysts expect that Big Lots, Inc. (NYSE:BIG) will post sales of $1.30 billion for the current quarter, Zacks reports. Four analysts have made estimates for Big Lots’ earnings, with the highest sales estimate coming in at $1.30 billion and the lowest estimate coming in at $1.29 billion. Big Lots posted sales of $1.27 billion during the same quarter last year, which suggests a positive year over year growth rate of 2.4%. The firm is scheduled to issue its next quarterly earnings report on Friday, June 7th.
On average, analysts expect that Big Lots will report full-year sales of $5.34 billion for the current financial year, with estimates ranging from $5.32 billion to $5.36 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $5.47 billion, with estimates ranging from $5.39 billion to $5.59 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Big Lots.
Big Lots (NYSE:BIG) last issued its earnings results on Friday, March 8th. The company reported $2.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.30 by $0.38. Big Lots had a return on equity of 25.67% and a net margin of 3.00%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the company posted $2.57 earnings per share. The business’s revenue was down 2.7% on a year-over-year basis.
A number of equities research analysts recently issued reports on the company. Morgan Stanley cut Big Lots from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $43.00 to $33.00 in a research note on Monday, January 7th. Zacks Investment Research raised shares of Big Lots from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. Goldman Sachs Group lowered shares of Big Lots from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a research report on Thursday, January 10th. Raymond James lifted their target price on shares of Big Lots from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, March 11th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $34.00 price target (down previously from $45.00) on shares of Big Lots in a research report on Monday, December 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $42.57.
In other news, insider Stephen M. Haffer sold 1,646 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $35.57, for a total value of $58,548.22. Following the transaction, the insider now owns 7,432 shares of the company’s stock, valued at $264,356.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Nicholas E. Padovano sold 4,734 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $38.19, for a total transaction of $180,791.46. Following the completion of the transaction, the insider now directly owns 10,776 shares in the company, valued at approximately $411,535.44. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Centric Wealth Management purchased a new stake in Big Lots during the 4th quarter valued at $721,000. Norges Bank purchased a new stake in Big Lots in the fourth quarter worth about $18,393,000. FMR LLC increased its position in Big Lots by 178.5% in the fourth quarter. FMR LLC now owns 1,846,371 shares of the company’s stock worth $53,397,000 after buying an additional 1,183,400 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Big Lots in the fourth quarter worth about $549,000. Finally, Millennium Management LLC raised its stake in shares of Big Lots by 2,978.3% in the fourth quarter. Millennium Management LLC now owns 392,574 shares of the company’s stock worth $11,353,000 after buying an additional 379,821 shares during the period.
Shares of BIG stock traded up $0.10 on Monday, hitting $38.37. 971,799 shares of the stock were exchanged, compared to its average volume of 2,407,982. Big Lots has a one year low of $26.21 and a one year high of $50.35. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 1.39 and a beta of 1.30. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.25 and a current ratio of 1.77.
The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 22nd were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $1.20 annualized dividend and a yield of 3.13%. Big Lots’s dividend payout ratio is currently 29.70%.
Big Lots declared that its board has authorized a share buyback plan on Friday, March 8th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 3.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
Big Lots Company Profile
Big Lots, Inc, through its subsidiaries, operates as a community retailer in the United States. The company offers products under various merchandising categories, such as furniture category that includes upholstery, mattress, case goods, and ready-to-assemble departments; seasonal category, which comprises Christmas trim, lawn and garden, summer, and other holiday departments; soft home category that consists of fashion and utility bedding, bath, window, decorative textile, home organization, area rugs, home décor, and frames departments; and food category that includes beverage and grocery, candy and snacks, and specialty foods departments.
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