NEW YORK (TheStreet) -- Shares of Big Lots (BIG - Get Report) are lower by -1.76% to $46.37 in early market trading as the discount retailer raised the bottom end of its earnings guidance for the full year to a range of $2.40 to $2.50 after posting fiscal second quarter profit of 31 cents per share, above the analyst estimates of 30 cents.
For the second quarter, the discount retail giant reported net sales of $1.2 billion, up 1.2% from the same quarter of last year, but lower than what analysts polled by Thomson Reuters expected of slightly more than $1.2 billion.
The company also announced a $125 million share repurchase program.
Must Read: 50 Stocks Hedge Funds Love
Earlier today, Big Lots declared a quarterly cash dividend of 17 cents per common share to be paid on September 26.
Separately, TheStreet Ratings team rates BIG LOTS INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate BIG LOTS INC (BIG) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share."
- You can view the full analysis from the report here: BIG Ratings Report
EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE