Analysts Expect Big Lots, Inc. (NYSE:BIG) to Post $0.40 Earnings Per Share

Brokerages expect that Big Lots, Inc. (NYSE:BIG) will announce $0.40 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have made estimates for Big Lots’ earnings, with the lowest EPS estimate coming in at $0.37 and the highest estimate coming in at $0.44. Big Lots posted earnings per share of $0.59 in the same quarter last year, which indicates a negative year over year growth rate of 32.2%. The firm is expected to report its next earnings results on Friday, August 30th.

On average, analysts expect that Big Lots will report full year earnings of $3.77 per share for the current year, with EPS estimates ranging from $3.72 to $3.84. For the next fiscal year, analysts forecast that the firm will report earnings of $3.95 per share, with EPS estimates ranging from $3.78 to $4.26. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Big Lots.

Big Lots (NYSE:BIG) last issued its earnings results on Friday, May 31st. The company reported $0.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.22. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. Big Lots had a net margin of 2.68% and a return on equity of 25.61%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 earnings per share.

Several research firms have commented on BIG. Zacks Investment Research downgraded shares of Big Lots from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Telsey Advisory Group reiterated a “market perform” rating and issued a $32.00 price objective (down from $40.00) on shares of Big Lots in a report on Monday, June 3rd. Piper Jaffray Companies downgraded shares of Big Lots from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $44.00 to $31.00 in a report on Friday, May 24th. ValuEngine downgraded shares of Big Lots from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 15th. Finally, Deutsche Bank downgraded shares of Big Lots from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $33.47.

In other news, EVP Michael Allen Schlonsky sold 5,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $38.99, for a total value of $194,950.00. Following the completion of the sale, the executive vice president now owns 67,296 shares of the company’s stock, valued at $2,623,871.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicholas E. Padovano sold 4,734 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $38.19, for a total transaction of $180,791.46. Following the completion of the sale, the insider now directly owns 10,776 shares of the company’s stock, valued at approximately $411,535.44. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Olstein Capital Management L.P. lifted its position in Big Lots by 22.5% during the fourth quarter. Olstein Capital Management L.P. now owns 50,000 shares of the company’s stock worth $1,446,000 after purchasing an additional 9,200 shares during the period. Prudential Financial Inc. lifted its position in Big Lots by 452.3% during the fourth quarter. Prudential Financial Inc. now owns 167,462 shares of the company’s stock worth $4,843,000 after purchasing an additional 137,142 shares during the period. NumerixS Investment Technologies Inc bought a new stake in Big Lots during the fourth quarter worth about $31,000. State Board of Administration of Florida Retirement System lifted its position in Big Lots by 5.8% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 27,357 shares of the company’s stock worth $791,000 after purchasing an additional 1,501 shares during the period. Finally, Metropolitan Life Insurance Co. NY lifted its position in Big Lots by 70.3% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 23,008 shares of the company’s stock worth $665,000 after purchasing an additional 9,500 shares during the period.

Shares of NYSE:BIG traded down $0.26 on Friday, hitting $29.05. The company had a trading volume of 183,993 shares, compared to its average volume of 1,432,693. Big Lots has a 1-year low of $25.73 and a 1-year high of $50.35. The company has a market cap of $1.17 billion, a P/E ratio of 7.19, a P/E/G ratio of 0.89 and a beta of 1.44. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.25 and a quick ratio of 0.17.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.20 annualized dividend and a dividend yield of 4.13%. Big Lots’s dividend payout ratio is currently 29.70%.

Big Lots announced that its Board of Directors has initiated a share buyback plan on Friday, March 8th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase plans are usually an indication 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.

Recommended Story: Straddles

Get a free copy of the Zacks research report on Big Lots (BIG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Big Lots Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Big Lots and related companies with MarketBeat.com's FREE daily email newsletter.