Equities analysts forecast that Big Lots, Inc. (NYSE:BIG) will announce $1.63 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Big Lots’ earnings. The lowest sales estimate is $1.62 billion and the highest is $1.64 billion. Big Lots reported sales of $1.60 billion in the same quarter last year, which suggests a positive year over year growth rate of 1.9%. The firm is scheduled to announce its next quarterly earnings results on Friday, March 13th.
According to Zacks, analysts expect that Big Lots will report full year sales of $5.35 billion for the current fiscal year, with estimates ranging from $5.34 billion to $5.35 billion. For the next fiscal year, analysts forecast that the firm will report sales of $5.46 billion, with estimates ranging from $5.43 billion to $5.52 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that cover Big Lots.
Big Lots (NYSE:BIG) last released its quarterly earnings results on Friday, December 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.02. Big Lots had a return on equity of 23.10% and a net margin of 4.83%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the business posted ($0.16) earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year.
Several research analysts recently weighed in on the company. ValuEngine raised Big Lots from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Barclays decreased their target price on Big Lots from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 3rd. Loop Capital raised their target price on Big Lots to $25.00 and gave the company a “hold” rating in a research note on Tuesday, September 3rd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $26.00 target price on shares of Big Lots in a research note on Friday, December 6th. Finally, Deutsche Bank raised their target price on Big Lots from $32.00 to $34.00 and gave the company a “hold” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $30.92.
Several hedge funds and other institutional investors have recently made changes to their positions in BIG. Morgan Stanley lifted its holdings in shares of Big Lots by 212.1% during the second quarter. Morgan Stanley now owns 855,886 shares of the company’s stock valued at $24,487,000 after purchasing an additional 581,647 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Big Lots by 2,236.0% during the third quarter. Millennium Management LLC now owns 415,995 shares of the company’s stock valued at $10,191,000 after purchasing an additional 398,187 shares during the last quarter. Miller Howard Investments Inc. NY purchased a new stake in shares of Big Lots during the third quarter valued at $6,904,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Big Lots during the second quarter valued at $7,365,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Big Lots during the second quarter valued at $6,191,000. 96.03% of the stock is owned by institutional investors and hedge funds.
BIG stock traded down $1.17 during trading hours on Monday, hitting $26.73. 2,330,031 shares of the stock traded hands, compared to its average volume of 2,795,438. The stock has a 50-day simple moving average of $22.02 and a 200 day simple moving average of $23.89. Big Lots has a one year low of $18.54 and a one year high of $39.53. The company has a market cap of $1.06 billion, a P/E ratio of 6.62, a P/E/G ratio of 0.99 and a beta of 1.32. The company has a current ratio of 1.29, a quick ratio of 0.17 and a debt-to-equity ratio of 2.06.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 4.49%. Big Lots’s dividend payout ratio is currently 29.70%.
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 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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