Ollie’s Bargain Outlet (NASDAQ:OLLI) Updates FY 2022 Earnings Guidance

Ollie’s Bargain Outlet (NASDAQ:OLLI – Get Rating) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.150-$2.220 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.360. The company issued revenue guidance of $1.91 billion-$1.93 billion, compared to the consensus revenue estimate of $1.94 billion.Ollie’s Bargain Outlet also updated its Q1 2022 guidance to $0.310-$0.330 EPS.

NASDAQ:OLLI opened at $54.20 on Wednesday. Ollie’s Bargain Outlet has a twelve month low of $37.67 and a twelve month high of $98.58. The business has a 50 day moving average price of $44.86 and a two-hundred day moving average price of $52.53. The company has a market cap of $3.40 billion, a P/E ratio of 22.30, a price-to-earnings-growth ratio of 2.09 and a beta of 1.27.

Ollie’s Bargain Outlet (NASDAQ:OLLI – Get Rating) last released its quarterly earnings results on Wednesday, March 23rd. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Ollie’s Bargain Outlet had a return on equity of 11.47% and a net margin of 8.98%. The firm had revenue of $501.14 million during the quarter, compared to the consensus estimate of $518.72 million. During the same quarter in the prior year, the firm posted $0.97 EPS. The business’s revenue was down 2.8% on a year-over-year basis. As a group, research analysts forecast that Ollie’s Bargain Outlet will post 2.16 EPS for the current year.

Several equities research analysts have recently commented on the company. Royal Bank of Canada cut their price objective on Ollie’s Bargain Outlet from $51.00 to $47.00 and set a sector perform rating for the company in a report on Thursday, March 24th. Piper Sandler cut their price objective on Ollie’s Bargain Outlet from $79.00 to $62.00 and set an overweight rating for the company in a report on Thursday, March 24th. UBS Group cut their price objective on Ollie’s Bargain Outlet from $55.00 to $46.00 and set a neutral rating for the company in a report on Thursday, March 24th. KeyCorp cut their price objective on Ollie’s Bargain Outlet from $83.00 to $75.00 and set an overweight rating for the company in a report on Thursday, March 24th. Finally, Wells Fargo & Company raised Ollie’s Bargain Outlet from an equal weight rating to an overweight rating and increased their price objective for the company from $45.00 to $65.00 in a report on Monday, April 4th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $57.38.

Hedge funds have recently bought and sold shares of the business. Lombard Odier Asset Management USA Corp bought a new position in Ollie’s Bargain Outlet during the 4th quarter worth $299,000. Toroso Investments LLC increased its position in shares of Ollie’s Bargain Outlet by 138.3% in the fourth quarter. Toroso Investments LLC now owns 7,648 shares of the company’s stock worth $392,000 after purchasing an additional 4,438 shares during the period. Allstate Corp increased its position in shares of Ollie’s Bargain Outlet by 6.3% in the fourth quarter. Allstate Corp now owns 9,915 shares of the company’s stock worth $508,000 after purchasing an additional 591 shares during the period. Metropolitan Life Insurance Co NY increased its position in shares of Ollie’s Bargain Outlet by 10.5% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 10,920 shares of the company’s stock worth $559,000 after purchasing an additional 1,042 shares during the period. Finally, Weiss Multi Strategy Advisers LLC bought a new position in shares of Ollie’s Bargain Outlet in the fourth quarter worth $793,000.

About Ollie’s Bargain Outlet (Get Rating)

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise. The company offers housewares, bed and bath, food, floor coverings, health and beauty aids, books and stationery, toys, and electronics; and other products, including hardware, candy, clothing, sporting goods, pet and lawn, and garden products.

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