$1.25 Billion in Sales Expected for Big Lots, Inc. (NYSE:BIG) This Quarter

Equities analysts predict that Big Lots, Inc. (NYSE:BIG) will announce sales of $1.25 billion for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Big Lots’ earnings, with estimates ranging from $1.24 billion to $1.27 billion. Big Lots reported sales of $1.22 billion in the same quarter last year, which indicates a positive year over year growth rate of 2.5%. The business is expected to report its next earnings results on Friday, August 30th.

According to Zacks, analysts expect that Big Lots will report full year sales of $5.36 billion for the current fiscal year, with estimates ranging from $5.34 billion to $5.38 billion. For the next fiscal year, analysts expect that the firm will report sales of $5.50 billion, with estimates ranging from $5.45 billion to $5.55 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Big Lots.

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

BIG has been the topic of a number of research analyst reports. Raymond James boosted their target price on Big Lots from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, March 11th. ValuEngine upgraded Big Lots from a “strong sell” rating to a “sell” rating in a research report on Monday, March 25th. Bank of America downgraded Big Lots from a “buy” rating to an “underperform” rating and set a $26.20 target price on the stock. in a research report on Monday, June 3rd. Morgan Stanley boosted their target price on Big Lots from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, March 11th. Finally, KeyCorp decreased their target price on Big Lots from $44.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $33.47.

In other news, insider Nicholas E. Padovano sold 4,734 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $38.19, for a total value of $180,791.46. Following the sale, the insider now directly owns 10,776 shares in the company, valued at $411,535.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Allen Schlonsky sold 5,000 shares of the company’s stock in a transaction on 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 in the company, valued at $2,623,871.04. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BIG. Bank of Montreal Can lifted its position in Big Lots by 123.8% during the fourth quarter. Bank of Montreal Can now owns 36,088 shares of the company’s stock worth $1,044,000 after buying an additional 19,965 shares during the period. Deprince Race & Zollo Inc. lifted its position in Big Lots by 1.8% during the fourth quarter. Deprince Race & Zollo Inc. now owns 755,176 shares of the company’s stock worth $21,840,000 after buying an additional 13,524 shares during the period. Crossmark Global Holdings Inc. lifted its position in Big Lots by 49.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 10,289 shares of the company’s stock worth $298,000 after buying an additional 3,400 shares during the period. Rhumbline Advisers lifted its position in Big Lots by 60.2% during the fourth quarter. Rhumbline Advisers now owns 126,750 shares of the company’s stock worth $3,666,000 after buying an additional 47,620 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its position in Big Lots by 28.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 7,937 shares of the company’s stock worth $230,000 after buying an additional 1,736 shares during the period.

BIG traded down $0.14 during trading on Friday, reaching $29.02. 1,229,058 shares of the stock were exchanged, compared to its average volume of 1,643,897. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.17 and a current ratio of 1.25. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 7.18, a PEG ratio of 0.96 and a beta of 1.44. Big Lots has a 1 year low of $25.73 and a 1 year high of $50.35.

Big Lots announced that its Board of Directors has initiated a stock buyback plan on Friday, March 8th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.30 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.20 annualized dividend and a dividend yield of 4.14%. Big Lots’s dividend payout ratio is currently 29.70%.

About Big Lots

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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