NEW YORK (TheStreet) -- Big Lots (BIG) shares are down 7% to $44.60 in pre-market trading on Friday after the closeout retailer reported third quarter financial results before the opening bell today that failed to meet Wall Street's expectations.
The company reported a third quarter net earnings loss of 6 cents per diluted share which was better than the 16 cent loss it reported during the same period last year, but was 1 cent wider than the 5 cent per share loss analysts were expecting.
Big Lots generated revenue of $1.11 billion dollars which also fell just short of analysts' $1.12 billion expectations for the quarter.
Must Read: Warren Buffett's 25 Favorite Stocks
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, increase in net income and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and feeble growth in the company's earnings per share."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: BIG Ratings Report