Big Lots, Inc. (NYSE:BIG) Expected to Post Quarterly Sales of $1.46 Billion

Wall Street analysts expect that Big Lots, Inc. (NYSE:BIGGet Rating) will announce $1.46 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Big Lots’ earnings, with estimates ranging from $1.44 billion to $1.48 billion. Big Lots reported sales of $1.63 billion during the same quarter last year, which would suggest a negative year over year growth rate of 10.4%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Big Lots will report full year sales of $6.13 billion for the current financial year, with estimates ranging from $6.08 billion to $6.20 billion. For the next year, analysts anticipate that the company will report sales of $6.44 billion, with estimates ranging from $6.36 billion to $6.57 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Big Lots.

Big Lots (NYSE:BIGGet Rating) last posted its quarterly earnings data on Thursday, March 3rd. The company reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.14). Big Lots had a net margin of 2.89% and a return on equity of 16.21%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the firm earned $2.59 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year.

Several brokerages have recently commented on BIG. Zacks Investment Research raised Big Lots from a “sell” rating to a “hold” rating and set a $37.00 price target on the stock in a research note on Tuesday, April 12th. Telsey Advisory Group decreased their price target on Big Lots from $50.00 to $32.00 and set a “market perform” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft decreased their target price on Big Lots from $44.00 to $31.00 in a research note on Wednesday. Piper Sandler decreased their target price on Big Lots from $34.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, May 20th. Finally, JPMorgan Chase & Co. decreased their target price on Big Lots from $31.00 to $25.00 in a research note on Tuesday, May 10th. Four analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.56.

Shares of BIG opened at $30.63 on Friday. The stock has a 50 day moving average price of $34.16 and a 200 day moving average price of $39.19. The stock has a market capitalization of $874.73 million, a price-to-earnings ratio of 5.89, a PEG ratio of 0.52 and a beta of 2.12. Big Lots has a one year low of $24.87 and a one year high of $73.23.

The business also recently declared a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Friday, March 18th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, March 17th. This represents a $1.20 annualized dividend and a yield of 3.92%. Big Lots’s dividend payout ratio (DPR) is 23.08%.

In other news, EVP Nicholas E. Padovano sold 3,500 shares of the stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $34.82, for a total value of $121,870.00. Following the transaction, the executive vice president now owns 25,841 shares in the company, valued at approximately $899,783.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nicholas E. Padovano sold 900 shares of the stock in a transaction dated Tuesday, March 22nd. The shares were sold at an average price of $38.39, for a total value of $34,551.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,000 shares of company stock worth $349,918. 2.70% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. lifted its holdings in shares of Big Lots by 1.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 21,823 shares of the company’s stock valued at $983,000 after buying an additional 233 shares during the period. Citigroup Inc. increased its stake in Big Lots by 1.2% in the 1st quarter. Citigroup Inc. now owns 30,213 shares of the company’s stock valued at $1,045,000 after purchasing an additional 347 shares in the last quarter. Gladius Capital Management LP increased its stake in Big Lots by 19.5% in the 1st quarter. Gladius Capital Management LP now owns 2,362 shares of the company’s stock valued at $82,000 after purchasing an additional 386 shares in the last quarter. Advisor Group Holdings Inc. increased its position in Big Lots by 8.2% during the fourth quarter. Advisor Group Holdings Inc. now owns 6,292 shares of the company’s stock worth $286,000 after buying an additional 479 shares in the last quarter. Finally, Cetera Advisor Networks LLC increased its position in Big Lots by 8.0% during the first quarter. Cetera Advisor Networks LLC now owns 6,633 shares of the company’s stock worth $230,000 after buying an additional 489 shares in the last quarter. 94.42% of the stock is owned by institutional investors.

About Big Lots (Get Rating)

Big Lots, Inc, through its subsidiaries, operates as a home discount retailer in the United States. The company offers products under various merchandising categories, such as furniture category that includes upholstery, mattresses, case goods, and ready-to-assemble departments; seasonal category, which comprises patio furniture, gazebos, Christmas trim, 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, specialty foods, and pet departments.

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Earnings History and Estimates for Big Lots (NYSE:BIG)

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