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

Brokerages expect Big Lots (NYSE:BIG) to post sales of $1.29 billion for the current fiscal quarter, Zacks reports. Six analysts have made 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 reported sales of $1.30 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 0.8%. The firm is expected to report its next earnings report on Friday, May 25th.

On average, analysts expect that Big Lots will report full year sales of $5.23 billion for the current financial year, with estimates ranging from $5.16 billion to $5.27 billion. For the next financial year, analysts forecast that the company will post 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 research analysts that cover Big Lots.

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

BIG has been the topic of a number of research analyst reports. Zacks Investment Research raised Big Lots from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a report on Wednesday, January 31st. Raymond James reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Big Lots in a report on Monday, April 16th. Northcoast Research reaffirmed a “neutral” rating on shares of Big Lots in a report on Monday, March 12th. Morgan Stanley set a $64.00 target price on Big Lots and gave the company a “buy” rating in a report on Monday, March 12th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $58.00 target price (down previously from $63.00) on shares of Big Lots in a report on Monday, March 12th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $58.25.

Shares of BIG stock traded down $0.34 during trading hours on Friday, reaching $42.04. The company’s stock had a trading volume of 1,533,745 shares, compared to its average volume of 1,525,450. The company has a market cap of $1,781.35, a PE ratio of 9.45, a P/E/G ratio of 0.64 and a beta of 1.13. Big Lots has a fifty-two week low of $41.04 and a fifty-two week high of $64.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.25 and a current ratio of 1.73.

Big Lots declared that its Board of Directors has approved a share buyback plan on Friday, March 9th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

The company also recently declared a quarterly dividend, which was paid on Friday, April 6th. Stockholders of record on Friday, March 23rd were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.85%. This is a boost from Big Lots’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 22nd. Big Lots’s dividend payout ratio is presently 26.97%.

In other news, CEO David J. Campisi sold 20,657 shares of the stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $43.73, for a total value of $903,330.61. Following the completion of the transaction, the chief executive officer now directly owns 170,560 shares in the company, valued at approximately $7,458,588.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David J. Campisi sold 25,414 shares of the stock in a transaction 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. 1.70% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Wells Fargo & Company MN raised 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 purchasing an additional 187,228 shares during the last quarter. Dimensional Fund Advisors LP raised 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 purchasing an additional 4,634 shares during the last quarter. Snow Capital Management LP raised 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 purchasing an additional 42,188 shares during the last quarter. Sei Investments Co. raised 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 purchasing an additional 625,395 shares during the last quarter. Finally, APG Asset Management N.V. raised 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 purchasing an additional 345,700 shares during the last quarter.

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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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