Wall Street brokerages expect Big Lots, Inc. (NYSE:BIG) to report $1.23 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Big Lots’ earnings. The lowest sales estimate is $1.21 billion and the highest is $1.25 billion. Big Lots reported sales of $1.22 billion during the same quarter last year, which indicates a positive year over year growth rate of 0.8%. The business is expected to announce its next earnings report on Friday, August 24th.
According to Zacks, analysts expect that Big Lots will report full year sales of $5.23 billion for the current fiscal year, with estimates ranging from $5.17 billion to $5.27 billion. For the next fiscal year, analysts forecast that the business will report sales of $5.25 billion per share, with estimates ranging from $5.07 billion to $5.34 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Big Lots.
Big Lots (NYSE:BIG) last posted its earnings results on Friday, June 1st. The company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.24). Big Lots had a net margin of 3.23% and a return on equity of 28.85%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the firm earned $1.15 EPS. Big Lots’s revenue for the quarter was down 2.1% on a year-over-year basis.
A number of brokerages have recently weighed in on BIG. Telsey Advisory Group dropped their price target on Big Lots from $49.00 to $42.00 and set a “market perform” rating on the stock in a research note on Monday, June 4th. Susquehanna Bancshares restated a “neutral” rating and set a $55.00 price target on shares of Big Lots in a research note on Thursday, June 7th. ValuEngine lowered Big Lots from a “sell” rating to a “strong sell” rating in a research note on Friday, June 1st. Loop Capital lowered Big Lots from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a research note on Monday, June 4th. Finally, Morgan Stanley dropped their price target on Big Lots from $62.00 to $47.00 and set an “overweight” rating on the stock in a research note on Monday, June 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $53.00.
In related news, CEO David J. Campisi sold 20,657 shares of the company’s stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $43.73, for a total value of $903,330.61. Following the sale, the chief executive officer now owns 170,560 shares in the company, valued at $7,458,588.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of BIG. We Are One Seven LLC acquired a new position in Big Lots in the fourth quarter valued at approximately $110,000. Point72 Asia Hong Kong Ltd acquired a new position in Big Lots in the first quarter valued at approximately $135,000. Pitcairn Co. acquired a new position in Big Lots in the fourth quarter valued at approximately $200,000. Baird Financial Group Inc. acquired a new position in Big Lots in the fourth quarter valued at approximately $214,000. Finally, Itau Unibanco Holding S.A. lifted its holdings in Big Lots by 100.4% in the fourth quarter. Itau Unibanco Holding S.A. now owns 3,872 shares of the company’s stock valued at $217,000 after acquiring an additional 1,940 shares during the period.
Shares of BIG stock traded up $0.88 during trading hours on Friday, reaching $42.22. 1,293,853 shares of the company’s stock were exchanged, compared to its average volume of 1,551,468. Big Lots has a 1 year low of $36.20 and a 1 year high of $64.42. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 0.67 and a beta of 1.14. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.32 and a current ratio of 1.65.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.84%. Big Lots’s dividend payout ratio is currently 26.97%.
Big Lots announced that its Board of Directors has approved a share buyback plan on Friday, March 9th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Big Lots Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Big Lots and related companies with MarketBeat.com's FREE daily email newsletter.