Big Lots Likely To Post Wider Q2 Loss; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts
Portfolio Pulse from Lisa Levin
Big Lots, Inc. (NYSE:BIG) is expected to report a wider loss for Q2 2023, with analysts predicting a loss of $4.12 per share compared to a loss of $2.28 per share in the same period last year. Revenue is expected to be $1.1 billion, down from $1.35 billion. The company's shares gained 2.5% to close at $6.28 on Monday. Several analysts have recently adjusted their price targets for the company, with Goldman Sachs, Deutsche Bank, Loop Capital, and Piper Sandler all lowering their targets.
August 29, 2023 | 7:29 am
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Big Lots is expected to report a wider Q2 loss, with a predicted loss of $4.12 per share. Revenue is expected to be $1.1 billion, down from $1.35 billion. The company's shares gained 2.5% to close at $6.28 on Monday. Several analysts have recently lowered their price targets for the company.
The expected wider loss and lower revenue for Big Lots in Q2 2023, along with lowered price targets by several analysts, suggest a negative short-term impact on the company's stock. However, the recent gain in share price indicates some market optimism.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100