Big Lots (BIG) Expected to Post Quarterly Sales of $1.29 Billion

Wall Street brokerages forecast that Big Lots (NYSE:BIG) will post sales of $1.29 billion for the current quarter, Zacks reports. Six analysts have provided estimates for Big Lots’ earnings, with the lowest sales estimate coming in at $1.27 billion and the highest estimate coming in at $1.31 billion. Big Lots reported sales of $1.30 billion during the same quarter last year, which indicates a negative year over year growth rate of 0.8%. The firm 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 $1.29 billion for the current financial year, with estimates ranging from $5.16 billion to $5.27 billion. For the next financial year, analysts expect that the firm will report sales of $5.28 billion per share, with estimates ranging from $5.22 billion to $5.35 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Big Lots.

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Big Lots (NYSE:BIG) last released its quarterly earnings data on Friday, March 9th. The company reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.14. Big Lots had a net margin of 3.60% and a return on equity of 31.12%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the company earned $2.26 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year.

A number of equities analysts have issued reports on BIG shares. Telsey Advisory Group boosted their price objective on shares of Big Lots from $56.00 to $59.00 and gave the company a “market perform” rating in a research report on Monday, December 4th. Citigroup set a $69.00 price target on shares of Big Lots and gave the company a “buy” rating in a research report on Tuesday, December 5th. Zacks Investment Research cut shares of Big Lots from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. UBS cut shares of Big Lots from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 10th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Big Lots in a research report on Wednesday, January 10th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $58.83.

In related news, insider Timothy A. Johnson sold 20,000 shares of the business’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $55.00, for a total transaction of $1,100,000.00. Following the sale, the insider now owns 65,649 shares of the company’s stock, valued at $3,610,695. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David J. Campisi sold 25,414 shares of the business’s stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $47.29, for a total transaction of $1,201,828.06. The disclosure for this sale can be found here. Insiders have sold 51,414 shares of company stock worth $2,649,828 in the last three months. 1.70% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of BIG. C M Bidwell & Associates Ltd. bought a new stake in Big Lots during the fourth quarter worth about $104,000. We Are One Seven LLC bought a new stake in Big Lots during the fourth quarter worth about $110,000. Cerebellum GP LLC bought a new stake in Big Lots during the fourth quarter worth about $128,000. Oppenheimer & Co. Inc. bought a new stake in Big Lots during the third quarter worth about $200,000. Finally, Pitcairn Co. bought a new stake in Big Lots during the fourth quarter worth about $200,000.

Shares of BIG stock traded down $0.41 during mid-day trading on Wednesday, reaching $43.12. The stock had a trading volume of 2,573,413 shares, compared to its average volume of 1,457,622. Big Lots has a 52-week low of $42.36 and a 52-week high of $64.42. The stock has a market capitalization of $1,829.69, a price-to-earnings ratio of 9.69, a PEG ratio of 0.66 and a beta of 1.13. The company has a current ratio of 1.73, a quick ratio of 0.25 and a debt-to-equity ratio of 0.30.

Big Lots announced that its board has approved a stock repurchase program on Friday, March 9th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 6th. Investors of record on Friday, March 23rd will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, March 22nd. This represents a $1.20 annualized dividend and a yield of 2.78%. This is a positive change from Big Lots’s previous quarterly dividend of $0.25. Big Lots’s payout ratio is presently 26.97%.

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Big Lots Company Profile

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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