Big Lots (BIG) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.63-0.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.75. The company issued revenue guidance of +1-3% rev growth calc to $1.306-$1.332 billion, compared to the consensus revenue estimate of $1.34 billion.Big Lots also updated its FY14 guidance to $3.05-3.25 EPS.

Big Lots (BIG) traded up 5.87% on Wednesday, hitting $35.88. Big Lots (BIG) has a 52-week low of $26.69 and a 52-week high of $47.22. The stock’s 50-day moving average is currently $32.53. The company has a market cap of $2.077 billion and a price-to-earnings ratio of 12.31.

Big Lots last issued its quarterly earnings data on Wednesday, March 6th. The company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.11. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the previous year, the company posted $1.75 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. Big Lots has set its Q1 guidance at $0.63-0.70 EPS and its FY14 guidance at $3.05-3.25 EPS. On average, analysts predict that Big Lots (BIG) will post $2.90 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on BIG shares. Analysts at JPMorgan Chase reiterated an underweight rating on shares of Big Lots in a research note to investors on Wednesday. They now have a $28.00 price target on the stock. On a related note, analysts at Canaccord Genuity downgraded shares of Big Lots from a buy rating to a hold rating in a research note to investors on Wednesday. They now have a $39.00 price target on the stock, up previously from $38.00. Finally, analysts at Piper Jaffray reiterated a neutral rating on shares of Big Lots in a research note to investors on Monday. They now have a $31.00 price target on the stock.

Big Lots, Inc., through its wholly owned subsidiaries, is a North America’s closeout retailer. At January 28, 2012, the Company operated a total of 1,533 stores in two countries: the United States and Canada.

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