Zacks: Analysts Anticipate Big Lots, Inc. (BIG) to Post $0.70 Earnings Per Share

Equities analysts expect Big Lots, Inc. (NYSE:BIG) to announce $0.70 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Big Lots’ earnings, with the lowest EPS estimate coming in at $0.67 and the highest estimate coming in at $0.74. Big Lots posted earnings per share of $0.95 in the same quarter last year, which would suggest a negative year over year growth rate of 26.3%. The business is scheduled to announce its next earnings results on Friday, June 7th.

On average, analysts expect that Big Lots will report full-year earnings of $3.67 per share for the current financial year, with EPS estimates ranging from $3.57 to $3.77. For the next year, analysts anticipate that the company will report earnings of $3.89 per share, with EPS estimates ranging from $3.34 to $4.14. Zacks’ EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Big Lots.

Big Lots (NYSE:BIG) last posted its quarterly earnings data on Friday, March 8th. The company reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.38. Big Lots had a net margin of 3.00% and a return on equity of 25.67%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the firm earned $2.57 earnings per share. The business’s quarterly revenue was down 2.7% on a year-over-year basis.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research downgraded Big Lots from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. ValuEngine upgraded Big Lots from a “strong sell” rating to a “sell” rating in a report on Monday, March 25th. Raymond James upped their target price on Big Lots from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, March 11th. Bank of America upped their target price on Big Lots from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, March 11th. Finally, Deutsche Bank downgraded Big Lots from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $41.93.

In other Big Lots news, EVP Michael Allen Schlonsky sold 5,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $38.99, for a total transaction of $194,950.00. Following the transaction, the executive vice president now owns 67,296 shares in the company, valued at $2,623,871.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nicholas E. Padovano sold 4,734 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $38.19, for a total value of $180,791.46. Following the transaction, the insider now owns 10,776 shares in the company, valued at approximately $411,535.44. The disclosure for this sale can be found here. Insiders sold 11,380 shares of company stock worth $434,290 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in BIG. Captrust Financial Advisors grew its holdings in Big Lots by 263.0% during the fourth quarter. Captrust Financial Advisors now owns 933 shares of the company’s stock valued at $27,000 after purchasing an additional 676 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new position in Big Lots during the fourth quarter valued at approximately $31,000. Northwestern Mutual Wealth Management Co. grew its holdings in Big Lots by 71.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,001 shares of the company’s stock valued at $38,000 after purchasing an additional 418 shares during the last quarter. We Are One Seven LLC acquired a new position in Big Lots during the fourth quarter valued at approximately $71,000. Finally, PNC Financial Services Group Inc. grew its holdings in Big Lots by 37.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,990 shares of the company’s stock valued at $115,000 after purchasing an additional 1,090 shares during the last quarter.

BIG stock traded up $0.05 during mid-day trading on Wednesday, reaching $34.03. 1,163,316 shares of the stock traded hands, compared to its average volume of 1,360,658. The firm has a market capitalization of $1.33 billion, a PE ratio of 8.42, a P/E/G ratio of 1.23 and a beta of 1.27. Big Lots has a 52-week low of $26.21 and a 52-week high of $50.35. The company has a current ratio of 1.77, a quick ratio of 0.25 and a debt-to-equity ratio of 0.75.

Big Lots declared that its board has approved a share repurchase program on Friday, March 8th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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

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