Zacks: Brokerages Expect Big Lots, Inc. (BIG) Will Post Quarterly Sales of $1.21 Billion
Equities research analysts expect Big Lots, Inc. (NYSE:BIG) to post $1.21 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Big Lots’ earnings. The highest sales estimate is $1.22 billion and the lowest is $1.19 billion. Big Lots reported sales of $1.20 billion during the same quarter last year, which indicates a positive year over year growth rate of 0.8%. The company is expected to announce its next earnings results on Friday, August 25th.
On average, analysts expect that Big Lots will report full-year sales of $1.21 billion for the current year, with estimates ranging from $5.22 billion to $5.33 billion. For the next fiscal year, analysts forecast that the firm will report sales of $5.23 billion per share, with estimates ranging from $5.14 billion to $5.28 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Big Lots.
Big Lots (NYSE:BIG) last posted its earnings results on Friday, May 26th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.16. Big Lots had a net margin of 3.20% and a return on equity of 29.88%. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the company posted $0.82 EPS. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year.
A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Big Lots from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Tuesday, July 11th. BidaskClub upgraded shares of Big Lots from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Citigroup Inc. reiterated a “buy” rating and issued a $62.00 price target (up from $61.00) on shares of Big Lots in a research report on Friday, June 9th. ValuEngine lowered shares of Big Lots from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Loop Capital reiterated a “buy” rating and issued a $64.00 price target on shares of Big Lots in a research report on Tuesday, May 30th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $57.00.
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In related news, insider Michael Allen Schlonsky sold 15,000 shares of the company’s stock in a transaction on Monday, April 24th. The shares were sold at an average price of $49.98, for a total transaction of $749,700.00. Following the sale, the insider now owns 52,104 shares of the company’s stock, valued at $2,604,157.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Lisa M. Bachmann sold 9,538 shares of the company’s stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $51.09, for a total transaction of $487,296.42. Following the sale, the insider now directly owns 45,920 shares in the company, valued at approximately $2,346,052.80. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in BIG. Huntington National Bank increased its stake in Big Lots by 88.9% in the first quarter. Huntington National Bank now owns 2,065 shares of the company’s stock worth $101,000 after buying an additional 972 shares during the last quarter. Advisors Preferred LLC acquired a new stake in Big Lots during the first quarter worth about $101,000. Neuburgh Advisers LLC increased its stake in Big Lots by 14.3% in the first quarter. Neuburgh Advisers LLC now owns 2,112 shares of the company’s stock worth $103,000 after buying an additional 264 shares during the last quarter. Credit Agricole S A acquired a new stake in Big Lots during the fourth quarter worth about $117,000. Finally, FNY Managed Accounts LLC acquired a new stake in Big Lots during the first quarter worth about $123,000.
Big Lots (BIG) traded up 0.31% during mid-day trading on Wednesday, reaching $48.28. 770,493 shares of the company’s stock traded hands. Big Lots has a 12-month low of $42.40 and a 12-month high of $56.54. The company has a market cap of $2.13 billion, a P/E ratio of 13.11 and a beta of 0.85. The stock has a 50 day moving average of $48.30 and a 200 day moving average of $49.38.
The business also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Stockholders of record on Friday, June 9th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Wednesday, June 7th. Big Lots’s dividend payout ratio (DPR) is presently 27.25%.
Big Lots Company Profile
Big Lots, Inc is a non-traditional, discount retailer operating in the United States. As of January 28, 2017, the Company operated a total of 1,432 stores. The Company operates through the discount retailing segment. As of January 28, 2017, the Company’s stores are located at various states of the United States, such as Alabama, Arizona, California, Colorado, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Kentucky, Maine, Michigan, Montana, Nevada, Nebraska, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, Texas, Utah and Washington.
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