Ollie's Bargain Outlet (NASDAQ:OLLI) Issues FY 2024 Earnings Guidance

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 3.220-3.300 for the period, compared to the consensus earnings per share estimate of 3.270. The company issued revenue guidance of $2.3 billion-$2.3 billion, compared to the consensus revenue estimate of $2.3 billion. Ollie's Bargain Outlet also updated its FY25 guidance to $3.22-3.30 EPS.

Analyst Ratings Changes

OLLI has been the subject of several recent research reports. Wells Fargo & Company downgraded Ollie's Bargain Outlet from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $100.00 to $95.00 in a report on Tuesday, December 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Ollie's Bargain Outlet from $113.00 to $105.00 and set an "overweight" rating on the stock in a report on Friday, August 30th. Gordon Haskett upgraded shares of Ollie's Bargain Outlet from an "accumulate" rating to a "buy" rating and lifted their price objective for the company from $105.00 to $107.00 in a report on Monday, August 26th. Loop Capital restated a "buy" rating and issued a $110.00 target price on shares of Ollie's Bargain Outlet in a report on Friday, September 20th. Finally, Bank of America lifted their price target on Ollie's Bargain Outlet from $102.00 to $115.00 and gave the company a "buy" rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Ollie's Bargain Outlet has an average rating of "Moderate Buy" and a consensus target price of $104.50.

Ollie's Bargain Outlet Stock Up 13.2 %

Ollie's Bargain Outlet stock traded up $12.97 during mid-day trading on Tuesday, reaching $111.02. 3,750,401 shares of the company's stock were exchanged, compared to its average volume of 1,045,348. The business's fifty day simple moving average is $94.99 and its 200 day simple moving average is $94.47. Ollie's Bargain Outlet has a one year low of $68.05 and a one year high of $113.76. The firm has a market capitalization of $6.81 billion, a PE ratio of 33.96, a P/E/G ratio of 2.53 and a beta of 0.85.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last released its earnings results on Tuesday, December 10th. The company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.01. Ollie's Bargain Outlet had a return on equity of 13.27% and a net margin of 9.19%. The company had revenue of $517.43 million for the quarter, compared to analysts' expectations of $518.83 million. During the same period in the previous year, the business posted $0.51 EPS. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts forecast that Ollie's Bargain Outlet will post 3.27 earnings per share for the current year.

Insider Activity

In related news, CEO John W. Swygert sold 4,800 shares of Ollie's Bargain Outlet stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $102.60, for a total value of $492,480.00. Following the completion of the sale, the chief executive officer now owns 48,200 shares of the company's stock, valued at approximately $4,945,320. This trade represents a 9.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin Mclain sold 15,000 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $98.99, for a total transaction of $1,484,850.00. Following the sale, the senior vice president now directly owns 10,610 shares in the company, valued at approximately $1,050,283.90. This trade represents a 58.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,712 shares of company stock valued at $3,368,270 in the last three months. Company insiders own 0.87% of the company's stock.

Ollie's Bargain Outlet Company Profile

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise in the United States. The company offers housewares, bed and bath, food, floor coverings, health and beauty aids, books and stationery, toys, and electronics; and other products, including hardware, candy, clothing, sporting goods, pet and lawn, and garden products.