Big Lots Inc. (BIG) released their fiscal Q3 earnings report this friday morning. They reported a net income of $127 million which is an improvement over the loss they posted in the same period last year. EPS, Big Lots Inc. says it has a profit of $3.25 EPS. Losses were 18 cents per share.
The Big Lots estimates
Analysts expected the revenue for the third quarter to be $1.16 billion. Big Lots managed to exceed these expectations with $10 million, accounting for a total revenue of $1.17 billion.
The losses per share were also beat by 3 cents per share. The average analyst expectation had a 21 cent loss per share. BIG expects full-year earnings in the range of $3.70 to $3.85 per share.
Since the beginning of this year, the stock price of Big Lots have decreased by 34%. the Year to date decrease of the stock price is a whopping 52%. However with this positive quarter earnings report, there may still be some upside.
BIG price targets
Currently BIG has an average recommendation rating of HOLD, with some recommendations leaning to the BUY side. The average price target sits at a comfortable $26.40, which is well above the current stock price of $19.16 (at the time of writing). With low estimates of $19 and high estimates of $36, BIG seems to have a lot of upside.
At the time of writing this article, the pre-market for BIG is already up +3.08%. So should you still buy at this time, when the market opens?
In my personal opinion, yes you should. There seems to be alot of upside to Big Lots stock at this moment in time. However, you should invest with care, investing the day after an earnings report can be risky. Alternatively you could tune in to the conference call and make your decision to invest based on what they have to say and the guidance.