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Big Lots (BIG) Moves 9.6% Higher: Will This Strength Last?
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Big Lots (BIG - Free Report) shares soared 9.6% in the last trading session to close at $27.31. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 11.7% gain over the past four weeks.
Big Lots has been gaining from its Operation North Star initiative, which encompasses driving top-line growth, cost containment, and enhancement in systems and infrastructure. In addition, the company has been witnessing strength in its e-commerce business and delivery services. Big Lots’ Broyhill and Real Living private label brands are also performing impressively.
This discount retailer is expected to post quarterly loss of $2.26 per share in its upcoming report, which represents a year-over-year change of -307.3%. Revenues are expected to be $1.36 billion, down 6.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Big Lots, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BIG going forward to see if this recent jump can turn into more strength down the road.
Big Lots is a member of the Zacks Retail - Discount Stores industry. One other stock in the same industry, Dollar Tree (DLTR - Free Report) , finished the last trading session 1.4% higher at $168.22. DLTR has returned -2.1% over the past month.
Dollar Tree's consensus EPS estimate for the upcoming report has changed +0.1% over the past month to $1.57. Compared to the company's year-ago EPS, this represents a change of +27.6%. Dollar Tree currently boasts a Zacks Rank of #2 (Buy).
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Big Lots (BIG) Moves 9.6% Higher: Will This Strength Last?
Big Lots (BIG - Free Report) shares soared 9.6% in the last trading session to close at $27.31. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 11.7% gain over the past four weeks.
Big Lots has been gaining from its Operation North Star initiative, which encompasses driving top-line growth, cost containment, and enhancement in systems and infrastructure. In addition, the company has been witnessing strength in its e-commerce business and delivery services. Big Lots’ Broyhill and Real Living private label brands are also performing impressively.
This discount retailer is expected to post quarterly loss of $2.26 per share in its upcoming report, which represents a year-over-year change of -307.3%. Revenues are expected to be $1.36 billion, down 6.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Big Lots, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BIG going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Big Lots is a member of the Zacks Retail - Discount Stores industry. One other stock in the same industry, Dollar Tree (DLTR - Free Report) , finished the last trading session 1.4% higher at $168.22. DLTR has returned -2.1% over the past month.
Dollar Tree's consensus EPS estimate for the upcoming report has changed +0.1% over the past month to $1.57. Compared to the company's year-ago EPS, this represents a change of +27.6%. Dollar Tree currently boasts a Zacks Rank of #2 (Buy).