Analysts Expect Big Lots (BIG) Will Post Quarterly Sales of $1.29 Billion

Brokerages expect Big Lots (NYSE:BIG) to announce sales of $1.29 billion for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Big Lots’ earnings, with the highest sales estimate coming in at $1.31 billion and the lowest estimate coming in at $1.27 billion. Big Lots posted sales of $1.30 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 0.8%. The company is scheduled to report its next earnings results on Friday, May 25th.

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 $5.16 billion to $5.27 billion. For the next financial year, analysts forecast that the business will post sales of $5.28 billion per share, with estimates ranging from $5.22 billion to $5.35 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Big Lots.

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Big Lots (NYSE:BIG) last issued its quarterly earnings results on Friday, March 9th. The company reported $2.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.43 by $0.14. Big Lots had a return on equity of 31.12% and a net margin of 3.60%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the business earned $2.26 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis.

BIG has been the subject of a number of research analyst reports. Northcoast Research reiterated a “neutral” rating on shares of Big Lots in a report on Monday, March 12th. UBS downgraded Big Lots from a “strong-buy” rating to an “outperform” rating in a report on Monday. Loop Capital lowered their price target on Big Lots from $70.00 to $60.00 and set a “buy” rating for the company in a report on Monday, March 12th. Zacks Investment Research upgraded Big Lots from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a report on Wednesday, January 31st. Finally, Raymond James reiterated an “outperform” rating and issued a $60.00 price target on shares of Big Lots in a report on Monday. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $58.25.

In related news, CEO David J. Campisi sold 20,657 shares of the business’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 transaction of $903,330.61. Following the completion of the transaction, the chief executive officer now owns 170,560 shares in the company, valued at approximately $7,458,588.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David J. Campisi sold 25,414 shares of the business’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $47.29, for a total value of $1,201,828.06. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its position in Big Lots by 7.6% during the 4th quarter. Wells Fargo & Company MN now owns 2,649,320 shares of the company’s stock worth $148,760,000 after acquiring an additional 187,228 shares during the period. Dimensional Fund Advisors LP boosted its position in Big Lots by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,458,840 shares of the company’s stock worth $78,150,000 after acquiring an additional 4,634 shares during the period. Snow Capital Management LP boosted its position in Big Lots by 3.5% during the 4th quarter. Snow Capital Management LP now owns 1,234,456 shares of the company’s stock worth $69,315,000 after acquiring an additional 42,188 shares during the period. Sei Investments Co. boosted its position in Big Lots by 488.2% during the 4th quarter. Sei Investments Co. now owns 753,487 shares of the company’s stock worth $25,515,000 after acquiring an additional 625,395 shares during the period. Finally, APG Asset Management N.V. boosted its position in Big Lots by 160.7% during the 4th quarter. APG Asset Management N.V. now owns 560,800 shares of the company’s stock worth $26,223,000 after acquiring an additional 345,700 shares during the period.

Shares of NYSE BIG traded down $1.36 during trading on Friday, reaching $42.38. The stock had a trading volume of 1,362,727 shares, compared to its average volume of 1,458,427. Big Lots has a one year low of $41.04 and a one year high of $64.42. The company has a current ratio of 1.73, a quick ratio of 0.25 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $1,837.67, a price-to-earnings ratio of 9.52, a price-to-earnings-growth ratio of 0.66 and a beta of 1.13.

Big Lots declared that its board has initiated a share buyback plan on Friday, March 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 6th. Investors of record on Friday, March 23rd were given a dividend of $0.30 per share. The ex-dividend date was Thursday, March 22nd. This represents a $1.20 dividend on an annualized basis and a yield of 2.83%. This is a positive change from Big Lots’s previous quarterly dividend of $0.25. Big Lots’s payout ratio is currently 26.97%.

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About Big Lots

Big Lots, Inc, through its subsidiaries, operates as a non-traditional, discount retailer in the United States. The company offers products under various merchandising categories, such as food category that includes beverage and grocery, candy and snacks, and specialty foods departments; consumables category, which comprises health and beauty, plastics, paper, chemical, and pet departments; soft home category that consists of home décor, frames, fashion bedding, utility bedding, bath, window, decorative textile, and area rugs departments; hard home category, including small appliances, table top, food preparation, stationery, greeting cards, and home maintenance departments; and furniture category consisting of upholstery, mattress, ready-to-assemble, and case goods departments.

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Earnings History and Estimates for Big Lots (NYSE:BIG)

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