Big Lots, Inc. (NYSE:BIG) Expected to Announce Quarterly Sales of $1.21 Billion

Brokerages predict that Big Lots, Inc. (NYSE:BIG) will report sales of $1.21 billion for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Big Lots’ earnings, with estimates ranging from $1.19 billion to $1.22 billion. Big Lots reported sales of $1.20 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 0.8%. The firm is scheduled to announce its next quarterly earnings report on Friday, August 25th.

On average, analysts expect that Big Lots will report full year sales of $1.21 billion for the current year, with estimates ranging from $5.22 billion to $5.33 billion. For the next year, analysts forecast that the firm will post sales of $5.23 billion per share, with estimates ranging from $5.14 billion to $5.28 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Big Lots.

Big Lots (NYSE:BIG) last issued its earnings results on Friday, May 26th. The company reported $1.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.16. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Big Lots had a net margin of 3.20% and a return on equity of 29.88%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 earnings per share.

A number of equities analysts have weighed in on BIG shares. Deutsche Bank AG upgraded Big Lots from a “hold” rating to a “buy” rating and upped their price target for the stock from $55.00 to $56.00 in a report on Tuesday, July 25th. Zacks Investment Research upgraded Big Lots from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Tuesday, July 11th. Citigroup Inc. restated a “buy” rating and issued a $62.00 price target (up previously from $61.00) on shares of Big Lots in a report on Friday, June 9th. Loop Capital restated a “buy” rating and issued a $64.00 price target on shares of Big Lots in a report on Tuesday, May 30th. Finally, Oppenheimer Holdings, Inc. set a $60.00 target price on Big Lots and gave the company a “buy” rating in a research note on Saturday, May 27th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $58.00.

In related news, CEO David J. Campisi sold 28,875 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $50.04, for a total transaction of $1,444,905.00. Following the sale, the chief executive officer now directly owns 225,018 shares of the company’s stock, valued at approximately $11,259,900.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Huntington National Bank raised its stake in Big Lots by 88.9% in the first quarter. Huntington National Bank now owns 2,065 shares of the company’s stock valued at $101,000 after buying an additional 972 shares in the last quarter. Advisors Preferred LLC purchased a new stake in Big Lots during the first quarter valued at about $101,000. Neuburgh Advisers LLC raised its stake in Big Lots by 14.3% in the first quarter. Neuburgh Advisers LLC now owns 2,112 shares of the company’s stock valued at $103,000 after buying an additional 264 shares in the last quarter. IFP Advisors Inc raised its stake in Big Lots by 13.6% in the second quarter. IFP Advisors Inc now owns 2,334 shares of the company’s stock valued at $113,000 after buying an additional 280 shares in the last quarter. Finally, FNY Managed Accounts LLC purchased a new stake in Big Lots during the first quarter valued at about $123,000.

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Shares of Big Lots (BIG) opened at 51.30 on Tuesday. The company has a 50-day moving average of $48.19 and a 200 day moving average of $49.30. Big Lots has a one year low of $42.40 and a one year high of $56.54. The firm has a market cap of $2.27 billion, a PE ratio of 13.93 and a beta of 0.85.

About Big Lots

Big Lots, Inc is a non-traditional, discount retailer operating in the United States. As of January 28, 2017, the Company operated a total of 1,432 stores. The Company operates through the discount retailing segment. As of January 28, 2017, the Company’s stores are located at various states of the United States, such as Alabama, Arizona, California, Colorado, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Kentucky, Maine, Michigan, Montana, Nevada, Nebraska, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, Texas, Utah and Washington.

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