Zacks Investment Research downgraded shares of Big Lots (NYSE:BIG) from a buy rating to a hold rating in a report published on Tuesday morning.
According to Zacks, “Big Lots’ shares have outperformed the industry in the past six months owing to better-than-expected earnings for the eighth straight quarter and encouraging earnings outlook. Meanwhile, both furniture financing programs and soft home have been consistently gaining traction. Following third-quarter fiscal 2017 results, management raised fiscal 2017 earnings guidance but remained somewhat cautious about sales and comparable store sales performance. Sales growth for the full year is predicted to increase by 2%, compared with earlier guided range of 2-2.5%. Moreover, challenging retail landscape, aggressive promotional strategies and waning store traffic might weigh on the performance. Softness in electronics, toys and accessories also remains a concern. Gross margins, which have declined in the second and third quarter is expected to fall further in the final quarter of 2017.”
BIG has been the topic of several other reports. Deutsche Bank restated a buy rating and set a $57.00 price objective (up from $56.00) on shares of Big Lots in a research note on Saturday, August 26th. Piper Jaffray Companies restated a hold rating and set a $52.00 price objective on shares of Big Lots in a research note on Friday, September 1st. Loop Capital set a $64.00 price objective on shares of Big Lots and gave the stock a buy rating in a research note on Wednesday, August 30th. BidaskClub upgraded shares of Big Lots from a hold rating to a buy rating in a research note on Wednesday, August 9th. Finally, Raymond James Financial restated a buy rating and set a $67.00 price objective on shares of Big Lots in a research note on Saturday, December 2nd. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Big Lots has an average rating of Buy and an average price target of $60.64.
Shares of Big Lots (NYSE:BIG) traded up $0.59 during mid-day trading on Tuesday, reaching $59.55. 1,735,330 shares of the company’s stock traded hands, compared to its average volume of 1,061,976. The company has a quick ratio of 0.24, a current ratio of 1.66 and a debt-to-equity ratio of 0.66. Big Lots has a 12-month low of $45.10 and a 12-month high of $60.20. The firm has a market cap of $2,478.25, a price-to-earnings ratio of 14.24, a P/E/G ratio of 1.02 and a beta of 0.99.
Big Lots (NYSE:BIG) last issued its quarterly earnings results on Friday, December 1st. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. Big Lots had a net margin of 3.36% and a return on equity of 30.17%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the business earned $0.04 EPS. The company’s revenue was up .5% compared to the same quarter last year. equities analysts expect that Big Lots will post 4.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Thursday, December 14th. Big Lots’s dividend payout ratio (DPR) is presently 25.58%.
In related news, CEO David J. Campisi sold 96,940 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $53.00, for a total transaction of $5,137,820.00. Following the completion of the transaction, the chief executive officer now directly owns 99,203 shares in the company, valued at approximately $5,257,759. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ronald A. Robins, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $51.00, for a total transaction of $51,000.00. Following the completion of the transaction, the insider now owns 7,925 shares of the company’s stock, valued at $404,175. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Alps Advisors Inc. increased its position in Big Lots by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 9,834 shares of the company’s stock valued at $475,000 after acquiring an additional 25 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Big Lots by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,536 shares of the company’s stock worth $316,000 after buying an additional 27 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Big Lots by 0.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 27,722 shares of the company’s stock worth $1,339,000 after buying an additional 109 shares during the period. Suntrust Banks Inc. increased its position in shares of Big Lots by 2.4% during the second quarter. Suntrust Banks Inc. now owns 8,127 shares of the company’s stock worth $391,000 after buying an additional 190 shares during the period. Finally, Retirement Systems of Alabama increased its position in shares of Big Lots by 0.4% during the second quarter. Retirement Systems of Alabama now owns 57,737 shares of the company’s stock worth $2,789,000 after buying an additional 210 shares during the period.
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Big Lots Company Profile
Big Lots, Inc is a non-traditional, discount retailer operating in the United States. As of January 28, 2017, the Company operated a total of 1,432 stores. The Company operates through the discount retailing segment. As of January 28, 2017, the Company’s stores are located at various states of the United States, such as Alabama, Arizona, California, Colorado, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Kentucky, Maine, Michigan, Montana, Nevada, Nebraska, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, Texas, Utah and Washington.
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