Big Lots, Inc. (NYSE:BIG) Expected to Post Quarterly Sales of $1.53 Billion

Wall Street brokerages expect that Big Lots, Inc. (NYSE:BIG) will announce sales of $1.53 billion for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Big Lots’ earnings. The lowest sales estimate is $1.46 billion and the highest is $1.63 billion. Big Lots posted sales of $1.44 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 6.3%. The firm is scheduled to announce its next earnings results before the market opens on Friday, June 4th.

On average, analysts expect that Big Lots will report full-year sales of $5.87 billion for the current financial year, with estimates ranging from $5.70 billion to $6.03 billion. For the next fiscal year, analysts expect that the company will post sales of $6.05 billion, with estimates ranging from $5.85 billion to $6.12 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Big Lots.

Big Lots (NYSE:BIG) last posted its quarterly earnings data on Thursday, March 4th. The company reported $2.59 EPS for the quarter, topping the Zacks’ consensus estimate of $2.50 by $0.09. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.74 billion. Big Lots had a return on equity of 26.25% and a net margin of 10.30%. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the company earned $2.39 EPS.

Several equities analysts have recently commented on BIG shares. Zacks Investment Research cut shares of Big Lots from a “buy” rating to a “hold” rating and set a $67.00 target price for the company. in a research report on Thursday. Deutsche Bank Aktiengesellschaft upped their target price on Big Lots from $46.00 to $61.00 and gave the stock a “hold” rating in a research note on Tuesday, March 9th. JPMorgan Chase & Co. lifted their price target on Big Lots from $53.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, February 16th. Barclays restated a “sell” rating on shares of Big Lots in a research report on Sunday, March 7th. Finally, Loop Capital downgraded Big Lots from a “buy” rating to a “hold” rating in a research note on Thursday, January 28th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $56.60.

BIG stock opened at $67.67 on Friday. Big Lots has a 52 week low of $26.62 and a 52 week high of $72.27. The business has a 50-day simple moving average of $67.99 and a 200 day simple moving average of $57.34. The company has a quick ratio of 0.55, a current ratio of 1.49 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.37 billion, a PE ratio of 4.31, a price-to-earnings-growth ratio of 0.64 and a beta of 2.39.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 2nd. Investors of record on Friday, March 19th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, March 18th. This represents a $1.20 annualized dividend and a yield of 1.77%. Big Lots’s dividend payout ratio is presently 32.70%.

In related news, EVP Michael Allen Schlonsky sold 5,000 shares of the firm’s stock in a transaction on Thursday, April 8th. The stock was sold at an average price of $65.22, for a total transaction of $326,100.00. Following the completion of the transaction, the executive vice president now directly owns 67,951 shares of the company’s stock, valued at approximately $4,431,764.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nicholas E. Padovano sold 4,438 shares of Big Lots stock in a transaction dated Tuesday, April 6th. The stock was sold at an average price of $69.08, for a total value of $306,577.04. Following the transaction, the executive vice president now directly owns 35,448 shares in the company, valued at $2,448,747.84. The disclosure for this sale can be found here. Insiders have sold a total of 25,258 shares of company stock worth $1,675,690 over the last three months. Insiders own 0.88% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Vantage Consulting Group Inc acquired a new position in Big Lots in the fourth quarter valued at $25,000. Wealthcare Advisory Partners LLC bought a new stake in shares of Big Lots during the 1st quarter valued at about $26,000. Veriti Management LLC acquired a new stake in Big Lots during the fourth quarter worth approximately $60,000. Harvest Fund Management Co. Ltd increased its holdings in Big Lots by 232.8% in the first quarter. Harvest Fund Management Co. Ltd now owns 965 shares of the company’s stock worth $65,000 after purchasing an additional 675 shares in the last quarter. Finally, Advisory Services Network LLC lifted its stake in Big Lots by 42.9% in the fourth quarter. Advisory Services Network LLC now owns 1,769 shares of the company’s stock valued at $76,000 after buying an additional 531 shares during the period. Institutional investors own 96.95% of the company’s stock.

Big Lots Company Profile

Big Lots, Inc, through its subsidiaries, operates as a 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 patio furniture, gazebos, Christmas trim, 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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