Ollie’s Bargain Outlet (NASDAQ:OLLI) Issues FY 2024 Earnings Guidance

Ollie’s Bargain Outlet (NASDAQ:OLLI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 3.100-3.200 for the period, compared to the consensus earnings per share estimate of 3.210. The company issued revenue guidance of $2.2 billion-$2.3 billion, compared to the consensus revenue estimate of $2.3 billion. Ollie’s Bargain Outlet also updated its FY25 guidance to $3.10-$3.20 EPS.

Ollie’s Bargain Outlet Stock Down 1.8 %

Shares of NASDAQ OLLI opened at $78.17 on Friday. Ollie’s Bargain Outlet has a 52 week low of $52.93 and a 52 week high of $84.38. The business’s 50 day moving average price is $76.04 and its 200 day moving average price is $75.46. The firm has a market cap of $4.81 billion, a P/E ratio of 26.77 and a beta of 0.76.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings results on Wednesday, March 20th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.16 by $0.07. The company had revenue of $648.90 million for the quarter, compared to analyst estimates of $649.39 million. Ollie’s Bargain Outlet had a net margin of 8.63% and a return on equity of 12.55%. The firm’s revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.84 earnings per share. As a group, research analysts expect that Ollie’s Bargain Outlet will post 3.19 earnings per share for the current year.

Analyst Ratings Changes

OLLI has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed an outperform rating and issued a $86.00 price target on shares of Ollie’s Bargain Outlet in a report on Thursday. Truist Financial boosted their price target on shares of Ollie’s Bargain Outlet from $78.00 to $80.00 and gave the stock a hold rating in a report on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of Ollie’s Bargain Outlet from $88.00 to $85.00 and set a neutral rating on the stock in a report on Thursday. Craig Hallum boosted their target price on shares of Ollie’s Bargain Outlet from $98.00 to $100.00 and gave the stock a buy rating in a research note on Thursday. Finally, TheStreet lowered shares of Ollie’s Bargain Outlet from a b rating to a c+ rating in a research note on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $84.08.

Insider Activity at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, CEO John W. Swygert sold 5,000 shares of Ollie’s Bargain Outlet stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $82.57, for a total value of $412,850.00. Following the completion of the transaction, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at approximately $3,979,874. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO John W. Swygert sold 2,342 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $75.23, for a total transaction of $176,188.66. Following the completion of the sale, the chief executive officer now owns 48,200 shares in the company, valued at approximately $3,626,086. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John W. Swygert sold 5,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $82.57, for a total transaction of $412,850.00. Following the completion of the transaction, the chief executive officer now owns 48,200 shares of the company’s stock, valued at approximately $3,979,874. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning purchased a new stake in shares of Ollie’s Bargain Outlet in the third quarter valued at approximately $46,000. KBC Group NV purchased a new position in shares of Ollie’s Bargain Outlet in the fourth quarter valued at $70,000. Captrust Financial Advisors raised its stake in shares of Ollie’s Bargain Outlet by 81.1% during the 2nd quarter. Captrust Financial Advisors now owns 1,411 shares of the company’s stock worth $83,000 after buying an additional 632 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Ollie’s Bargain Outlet in the 2nd quarter worth about $167,000. Finally, State of Wyoming grew its stake in Ollie’s Bargain Outlet by 371.7% in the 2nd quarter. State of Wyoming now owns 2,972 shares of the company’s stock valued at $172,000 after acquiring an additional 2,342 shares during the last quarter.

Ollie’s Bargain Outlet Company Profile

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise in the United States. The company offers housewares, bed and bath, food, floor coverings, health and beauty aids, books and stationery, toys, and electronics; and other products, including hardware, candy, clothing, sporting goods, pet and lawn, and garden products.