$1.74 Billion in Sales Expected for Big Lots, Inc. (NYSE:BIG) This Quarter

Posted by Thomas Dobrow on Feb 23rd, 2021 // Comments off

Equities analysts forecast that Big Lots, Inc. (NYSE:BIG) will announce $1.74 billion in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Big Lots’ earnings, with the lowest sales estimate coming in at $1.73 billion and the highest estimate coming in at $1.74 billion. Big Lots posted sales of $1.61 billion during the same quarter last year, which would indicate a positive year over year growth rate of 8.1%. The company is scheduled to report its next quarterly earnings results before the market opens on Friday, March 5th.

According to Zacks, analysts expect that Big Lots will report full-year sales of $6.20 billion for the current financial year, with estimates ranging from $6.19 billion to $6.20 billion. For the next fiscal year, analysts expect that the company will report sales of $5.76 billion, with estimates ranging from $5.54 billion to $5.86 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Big Lots.

Big Lots (NYSE:BIG) last issued its quarterly earnings results on Thursday, December 3rd. The company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.10. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Big Lots had a net margin of 10.30% and a return on equity of 26.25%. Big Lots’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.18) EPS.

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Big Lots from $53.00 to $46.00 and set a “hold” rating for the company in a research note on Thursday, January 14th. Loop Capital downgraded shares of Big Lots from a “buy” rating to a “hold” rating in a research report on Thursday, January 28th. They noted that the move was a valuation call. Telsey Advisory Group cut their price objective on shares of Big Lots from $73.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, January 14th. Barclays downgraded shares of Big Lots from an “equal weight” rating to an “underweight” rating and set a $42.00 price objective for the company. in a research report on Thursday, January 7th. Finally, Zacks Investment Research cut shares of Big Lots from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research note on Monday, November 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $54.42.

Institutional investors have recently added to or reduced their stakes in the business. Vantage Consulting Group Inc acquired a new stake in shares of Big Lots during the 4th quarter worth about $25,000. Huntington National Bank boosted its stake in shares of Big Lots by 162.3% during the 3rd quarter. Huntington National Bank now owns 745 shares of the company’s stock worth $33,000 after purchasing an additional 461 shares during the last quarter. C M Bidwell & Associates Ltd. boosted its stake in shares of Big Lots by 74.1% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 1,280 shares of the company’s stock worth $57,000 after purchasing an additional 545 shares during the last quarter. Veriti Management LLC acquired a new stake in shares of Big Lots in the fourth quarter worth approximately $60,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Big Lots by 851.4% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,703 shares of the company’s stock worth $235,000 after acquiring an additional 1,524 shares during the last quarter. 96.95% of the stock is currently owned by institutional investors.

NYSE:BIG traded up $1.60 during trading hours on Tuesday, reaching $64.95. 859,466 shares of the company’s stock were exchanged, compared to its average volume of 1,554,725. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 4.04, a P/E/G ratio of 0.64 and a beta of 2.39. The company has a 50-day moving average of $54.91 and a 200 day moving average of $49.82. The company has a quick ratio of 0.55, a current ratio of 1.49 and a debt-to-equity ratio of 0.03. Big Lots has a 1-year low of $10.13 and a 1-year high of $68.12.

About Big Lots

Big Lots, Inc, through its subsidiaries, operates as a retailer in the United States. The company offers products under various merchandising categories, such as furniture category that includes upholstery, mattress, case goods, and ready-to-assemble departments; seasonal category, which comprises Christmas trim, lawn and garden, summer, and other holiday departments; soft home category that consists of fashion and utility bedding, bath, window, decorative textile, home organization, area rugs, home dÃ©cor, and frames departments; and food category that includes beverage and grocery, candy and snacks, and specialty foods departments.

$1.74 Billion in Sales Expected for Big Lots, Inc. (NYSE:BIG) This Quarter

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