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Big Lots (BIG) on Fire: What is Driving the Stock Higher?
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Shares of Big Lots Inc. (BIG - Free Report) have surged more than 42% in the past six months, buoyed by back-to-back positive earnings surprises and positive comparable-store sales (comps) for nine consecutive quarters. Currently, the stock is hovering near its 52-week high of $53.45.
Big Lots’ furniture financing programs as well as the food and consumables categories have been consistently gaining traction. The response toward furniture financing has been impressive. Also, the company’s management has been expanding assortments in this category by including lawn and garden items, such as patio furniture, gazebos and gas grills.
The company’s earnings have surpassed the Zacks Consensus Estimate in five out of the trailing six quarters. For fiscal 2016, adjusted earnings per share are projected in the band of $3.35–$3.50 compared to the previous guidance of $3.20–$3.35. This represents 11–16% growth over $2.97 per share recorded in fiscal 2015. For the fiscal second quarter, earnings per share from continuing operations are envisioned in the range of 42–47 cents compared with 41 cents earned in the prior-year quarter.
Big Lots registered comps growth for the ninth consecutive quarter in first-quarter fiscal 2016. Comps for the first quarter grew 3% after rising 0.7%, 2.6%, 2.8%, 1.6%, 2.9%, 1.4%, 1.7% and 0.9% in the trailing eight quarters, respectively. The company’s merchandising strategies and effective marketing seem to be paying off quite well. Management now anticipates comps to increase in the low-single-digit range in fiscal 2016.
Let’s look at the Zacks Rank #3 (Hold) company’s earnings estimate revisions in order to get a clear picture of analysts’ opinion about the stock. In the past 60 days, Big Lots’ earnings estimates for fiscal 2016 and fiscal 2017 increased by 16 cents and 9 cents to $3.48 and $3.89, respectively. This indicates that analysts remain optimistic about the stock’s future performance.
Stocks to Consider
Better-ranked stocks worth considering in the same space include Dollar General Corporation (DG - Free Report) , Dollar Tree, Inc. (DLTR - Free Report) and Burlington Stores, Inc. (BURL - Free Report) . All these stocks hold a Zacks Rank #2 (Buy).
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Big Lots (BIG) on Fire: What is Driving the Stock Higher?
Shares of Big Lots Inc. (BIG - Free Report) have surged more than 42% in the past six months, buoyed by back-to-back positive earnings surprises and positive comparable-store sales (comps) for nine consecutive quarters. Currently, the stock is hovering near its 52-week high of $53.45.
BIG LOTS INC Price
BIG LOTS INC Price | BIG LOTS INC Quote
Big Lots’ furniture financing programs as well as the food and consumables categories have been consistently gaining traction. The response toward furniture financing has been impressive. Also, the company’s management has been expanding assortments in this category by including lawn and garden items, such as patio furniture, gazebos and gas grills.
The company’s earnings have surpassed the Zacks Consensus Estimate in five out of the trailing six quarters. For fiscal 2016, adjusted earnings per share are projected in the band of $3.35–$3.50 compared to the previous guidance of $3.20–$3.35. This represents 11–16% growth over $2.97 per share recorded in fiscal 2015. For the fiscal second quarter, earnings per share from continuing operations are envisioned in the range of 42–47 cents compared with 41 cents earned in the prior-year quarter.
Big Lots registered comps growth for the ninth consecutive quarter in first-quarter fiscal 2016. Comps for the first quarter grew 3% after rising 0.7%, 2.6%, 2.8%, 1.6%, 2.9%, 1.4%, 1.7% and 0.9% in the trailing eight quarters, respectively. The company’s merchandising strategies and effective marketing seem to be paying off quite well. Management now anticipates comps to increase in the low-single-digit range in fiscal 2016.
Let’s look at the Zacks Rank #3 (Hold) company’s earnings estimate revisions in order to get a clear picture of analysts’ opinion about the stock. In the past 60 days, Big Lots’ earnings estimates for fiscal 2016 and fiscal 2017 increased by 16 cents and 9 cents to $3.48 and $3.89, respectively. This indicates that analysts remain optimistic about the stock’s future performance.
Stocks to Consider
Better-ranked stocks worth considering in the same space include Dollar General Corporation (DG - Free Report) , Dollar Tree, Inc. (DLTR - Free Report) and Burlington Stores, Inc. (BURL - Free Report) . All these stocks hold a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>