Zacks: Brokerages Anticipate Big Lots, Inc. (BIG) Will Announce Earnings of $0.61 Per Share
Analysts expect Big Lots, Inc. (NYSE:BIG) to report earnings per share (EPS) of $0.61 for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Big Lots’ earnings. The lowest EPS estimate is $0.60 and the highest is $0.62. Big Lots posted earnings of $0.52 per share in the same quarter last year, which indicates a positive year over year growth rate of 17.3%. The firm is scheduled to announce its next quarterly earnings results on Friday, August 25th.
According to Zacks, analysts expect that Big Lots will report full year earnings of $4.20 per share for the current fiscal year, with EPS estimates ranging from $4.14 to $4.29. For the next year, analysts expect that the business will post earnings of $4.39 per share, with EPS estimates ranging from $4.20 to $4.50. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Big Lots.
Big Lots (NYSE:BIG) last announced its earnings results on Friday, May 26th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.16. Big Lots had a net margin of 3.97% and a return on equity of 31.68%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the firm posted $0.82 earnings per share. Big Lots’s revenue was down 1.2% compared to the same quarter last year.
Several brokerages have issued reports on BIG. Oppenheimer Holdings, Inc. set a $60.00 price target on Big Lots and gave the company a “buy” rating in a report on Saturday, May 27th. Zacks Investment Research raised Big Lots from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Tuesday, May 23rd. ValuEngine downgraded Big Lots from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Loop Capital reaffirmed a “buy” rating and set a $64.00 price target on shares of Big Lots in a report on Tuesday, May 30th. Finally, BidaskClub downgraded Big Lots from a “hold” rating to a “sell” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $57.09.
In related news, insider Michael Allen Schlonsky sold 15,000 shares of the firm’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $49.98, for a total value of $749,700.00. Following the transaction, the insider now owns 52,104 shares in the company, valued at $2,604,157.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lisa M. Bachmann sold 9,538 shares of the firm’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $51.09, for a total value of $487,296.42. Following the completion of the transaction, the insider now owns 45,920 shares in the company, valued at approximately $2,346,052.80. The disclosure for this sale can be found here. Insiders have sold a total of 33,440 shares of company stock worth $1,670,524 in the last quarter. Company insiders own 1.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Comerica Bank boosted its position in shares of Big Lots by 61.2% in the fourth quarter. Comerica Bank now owns 67,740 shares of the company’s stock worth $3,418,000 after buying an additional 25,729 shares during the last quarter. State Street Corp boosted its position in shares of Big Lots by 1.7% in the fourth quarter. State Street Corp now owns 1,599,687 shares of the company’s stock worth $80,316,000 after buying an additional 26,495 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Big Lots by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,591 shares of the company’s stock worth $331,000 after buying an additional 27 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Big Lots by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,377,970 shares of the company’s stock worth $69,189,000 after buying an additional 16,256 shares during the last quarter. Finally, Martingale Asset Management L P boosted its position in shares of Big Lots by 5.0% in the fourth quarter. Martingale Asset Management L P now owns 103,636 shares of the company’s stock worth $5,204,000 after buying an additional 4,915 shares during the last quarter.
Shares of Big Lots (NYSE:BIG) traded down 0.04% during trading on Tuesday, reaching $47.00. 822,124 shares of the company were exchanged. Big Lots has a one year low of $42.40 and a one year high of $56.54. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 12.76 and a beta of 0.90. The company has a 50 day moving average price of $48.78 and a 200-day moving average price of $50.21.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Friday, June 9th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Wednesday, June 7th. Big Lots’s payout ratio is 27.25%.
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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