NEW YORK (TheStreet) -- Shares of Big Lots (BIG) - Get Report were higher in pre-market trading on Friday after the company reported solid earnings for the 2016 second quarter and provided a positive full-year outlook.
Before the opening bell, the Columbus, OH-based discount retailer reported adjusted earnings of 52 cents per share, which topped analysts' estimates of 46 cents per share.
Revenue of $1.2 billion was lower than Wall Street's projections of $1.22 billion. Revenue declined 0.5% year-over-year.
Same-store sales rose 0.3% in the quarter.
Big Lots forecasts earnings per share between $3.45 and $3.55 for the full year, up from its prior view of $3.35 per share to $3.50 per share. Wall Street estimates earnings of $3.47 per share for 2016.
For the third quarter, Big Lots expects its results to range from a loss of 4 cents per share to earnings of one cent per share. Analysts are looking for a loss of a penny per share in the current period.
In the fourth quarter, the company projects earnings per share between $2.18 and $2.23.
CEO David Campisi said the company was "pleased" to report positive comparable-store sales for the tenth consecutive quarter.
Additionally, Big Lots announced a quarterly cash dividend of 21 cents per common share payable on September 23.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of B+.
The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, increase in net income and notable return on equity. We feel its strengths outweigh the fact that the company shows weak operating cash flow.
You can view the full analysis from the report here: BIG