Big Lots (NYSE:BIG) – Stock analysts at Northcoast Research cut their Q3 2019 earnings per share estimates for Big Lots in a report released on Monday, March 12th, Zacks Investment Research reports. Northcoast Research analyst N. Mitchell now forecasts that the company will post earnings of $0.00 per share for the quarter, down from their prior estimate of $0.06. Northcoast Research currently has a “Neutral” rating on the stock. Northcoast Research also issued estimates for Big Lots’ Q4 2019 earnings at $2.90 EPS.
Several other research analysts have also weighed in on the company. ValuEngine lowered Big Lots from a “buy” rating to a “hold” rating in a research report on Thursday, March 22nd. Barclays reiterated a “hold” rating and issued a $50.00 price target on shares of Big Lots in a report on Thursday, March 15th. Citigroup reiterated a “hold” rating and issued a $56.00 price target on shares of Big Lots in a report on Tuesday, March 13th. Zacks Investment Research downgraded Big Lots from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. Finally, KeyCorp reiterated an “overweight” rating and issued a $58.00 price target (down from $63.00) on shares of Big Lots in a report on Monday, March 12th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Big Lots has a consensus rating of “Hold” and an average target price of $58.83.
Shares of Big Lots stock traded down $1.36 during trading hours on Thursday, reaching $43.06. 1,999,588 shares of the company’s stock were exchanged, compared to its average volume of 2,221,686. The company has a quick ratio of 0.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1,809.94, a PE ratio of 9.68, a P/E/G ratio of 0.65 and a beta of 1.13. Big Lots has a 52-week low of $42.36 and a 52-week high of $64.42.
Big Lots (NYSE:BIG) last issued its quarterly earnings results on Friday, March 9th. The company reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.14. Big Lots had a return on equity of 31.12% and a net margin of 3.60%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the company posted $2.26 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year.
Big Lots declared that its Board of Directors has initiated a share buyback program on Friday, March 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 6th. Stockholders of record on Friday, March 23rd were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, March 22nd. This is an increase from Big Lots’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 2.79%. Big Lots’s dividend payout ratio (DPR) is currently 26.97%.
In other news, CEO David J. Campisi sold 20,657 shares of the stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $43.73, for a total transaction of $903,330.61. Following the transaction, the chief executive officer now owns 170,560 shares of the company’s stock, valued at $7,458,588.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David J. Campisi sold 25,414 shares of the stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $47.29, for a total transaction of $1,201,828.06. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN lifted its position in shares of Big Lots by 7.6% during the fourth quarter. Wells Fargo & Company MN now owns 2,649,320 shares of the company’s stock worth $148,760,000 after purchasing an additional 187,228 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Big Lots by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,458,840 shares of the company’s stock worth $78,150,000 after acquiring an additional 4,634 shares during the last quarter. Snow Capital Management LP lifted its holdings in Big Lots by 3.5% in the fourth quarter. Snow Capital Management LP now owns 1,234,456 shares of the company’s stock worth $69,315,000 after acquiring an additional 42,188 shares during the last quarter. Sei Investments Co. lifted its holdings in Big Lots by 488.2% in the fourth quarter. Sei Investments Co. now owns 753,487 shares of the company’s stock worth $25,515,000 after acquiring an additional 625,395 shares during the last quarter. Finally, APG Asset Management N.V. lifted its holdings in Big Lots by 160.7% in the fourth quarter. APG Asset Management N.V. now owns 560,800 shares of the company’s stock worth $26,223,000 after acquiring an additional 345,700 shares during the last quarter.
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About Big Lots
Big Lots, Inc, through its subsidiaries, operates as a non-traditional, discount retailer in the United States. The company offers products under various merchandising categories, such as food category that includes beverage and grocery, candy and snacks, and specialty foods departments; consumables category, which comprises health and beauty, plastics, paper, chemical, and pet departments; soft home category that consists of home décor, frames, fashion bedding, utility bedding, bath, window, decorative textile, and area rugs departments; hard home category, including small appliances, table top, food preparation, stationery, greeting cards, and home maintenance departments; and furniture category consisting of upholstery, mattress, ready-to-assemble, and case goods departments.
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