Big Lots, Inc. Expected to Earn Q3 2024 Earnings of ($4.62) Per Share (NYSE:BIG)

Big Lots, Inc. (NYSE:BIGFree Report) – Analysts at KeyCorp dropped their Q3 2024 earnings estimates for Big Lots in a report issued on Tuesday, August 29th. KeyCorp analyst B. Thomas now expects that the company will earn ($4.62) per share for the quarter, down from their prior forecast of ($2.93). The consensus estimate for Big Lots’ current full-year earnings is ($10.29) per share. KeyCorp also issued estimates for Big Lots’ FY2024 earnings at ($10.65) EPS and FY2025 earnings at ($7.80) EPS.

Big Lots (NYSE:BIGGet Free Report) last released its quarterly earnings results on Tuesday, August 29th. The company reported ($3.24) earnings per share for the quarter, topping the consensus estimate of ($4.11) by $0.87. Big Lots had a negative net margin of 7.78% and a negative return on equity of 34.74%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the firm earned ($2.28) earnings per share. The company’s quarterly revenue was down 15.4% on a year-over-year basis.

A number of other analysts have also recently issued reports on BIG. Loop Capital increased their price objective on shares of Big Lots from $6.00 to $7.00 and gave the stock a “hold” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft cut their target price on shares of Big Lots from $8.00 to $6.00 in a research note on Tuesday, May 30th. Telsey Advisory Group raised their target price on shares of Big Lots from $6.00 to $8.50 in a research note on Wednesday. StockNews.com cut shares of Big Lots from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, The Goldman Sachs Group cut their target price on shares of Big Lots from $14.00 to $5.00 in a research note on Wednesday, May 31st. Four investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, Big Lots presently has an average rating of “Reduce” and a consensus target price of $6.93.

Check Out Our Latest Stock Report on Big Lots

Big Lots Stock Performance

Shares of NYSE BIG opened at $6.39 on Friday. The firm has a fifty day moving average price of $8.62 and a 200-day moving average price of $9.70. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.47 and a quick ratio of 0.17. The stock has a market cap of $186.46 million, a PE ratio of -0.46 and a beta of 2.18. Big Lots has a 1 year low of $4.78 and a 1 year high of $24.09.

Hedge Funds Weigh In On Big Lots

Institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its holdings in shares of Big Lots by 69.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,819 shares of the company’s stock worth $27,000 after acquiring an additional 747 shares during the last quarter. Harbour Investments Inc. increased its position in Big Lots by 376.5% during the 2nd quarter. Harbour Investments Inc. now owns 3,974 shares of the company’s stock valued at $35,000 after purchasing an additional 3,140 shares during the period. Quarry LP purchased a new position in shares of Big Lots in the 1st quarter worth approximately $37,000. Belpointe Asset Management LLC purchased a new position in shares of Big Lots in the 4th quarter worth approximately $41,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Big Lots by 42.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,231 shares of the company’s stock worth $62,000 after purchasing an additional 1,259 shares during the last quarter. Institutional investors own 72.02% of the company’s stock.

About Big Lots

(Get Free Report)

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 home d├ęcor, frames, fashion and utility bedding, bath, window, decorative textile, and area rugs departments; and food category that includes beverage and grocery, specialty foods, and pet departments.

Featured Articles

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

Receive News & Ratings for Big Lots Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Big Lots and related companies with MarketBeat.com's FREE daily email newsletter.