TheStreet lowered shares of Big Lots (NYSE:BIG) from a b- rating to a c+ rating in a research note released on Friday morning.
Several other analysts have also recently weighed in on BIG. UBS cut shares of Big Lots from an outperform rating to a market perform rating in a research note on Wednesday, January 10th. Citigroup cut shares of Big Lots from an outperform rating to a market perform rating in a research note on Wednesday, January 10th. They noted that the move was a valuation call. Oppenheimer reissued a market perform rating on shares of Big Lots in a research note on Wednesday, January 10th. Loop Capital reissued a buy rating and issued a $70.00 price target on shares of Big Lots in a research note on Monday, January 29th. Finally, Zacks Investment Research raised shares of Big Lots from a hold rating to a buy rating and set a $69.00 price target for the company in a research note on Wednesday, January 31st. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $58.25.
Big Lots stock opened at $42.79 on Friday. Big Lots has a 1-year low of $41.04 and a 1-year high of $64.42. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.73 and a quick ratio of 0.25. The company has a market capitalization of $1,766.22, a PE ratio of 9.62, a PEG ratio of 0.64 and a beta of 1.13.
Big Lots (NYSE:BIG) last posted its quarterly earnings results on Friday, March 9th. The company reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.14. Big Lots had a net margin of 3.60% and a return on equity of 31.12%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. equities analysts forecast that Big Lots will post 4.88 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 6th. Investors of record on Friday, March 23rd were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, March 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.80%. This is a boost from Big Lots’s previous quarterly dividend of $0.25. Big Lots’s dividend payout ratio (DPR) is presently 26.97%.
Big Lots declared that its board has authorized a share buyback program on Friday, March 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
In other Big Lots news, CEO David J. Campisi sold 25,414 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $47.29, for a total value of $1,201,828.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David J. Campisi sold 20,657 shares of the firm’s stock in a transaction that occurred on Wednesday, April 4th. The shares were sold at an average price of $43.73, for a total transaction of $903,330.61. Following the completion of the transaction, the chief executive officer now directly owns 170,560 shares of the company’s stock, valued at approximately $7,458,588.80. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. boosted its position in Big Lots by 9.4% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 18,819 shares of the company’s stock valued at $1,057,000 after buying an additional 1,612 shares during the period. Elkfork Partners LLC purchased a new position in Big Lots in the 4th quarter valued at approximately $302,000. Xact Kapitalforvaltning AB purchased a new position in Big Lots in the 4th quarter valued at approximately $382,000. J. Goldman & Co LP purchased a new position in Big Lots in the 4th quarter valued at approximately $21,077,000. Finally, We Are One Seven LLC purchased a new position in Big Lots in the 4th quarter valued at approximately $110,000.
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Big Lots Company Profile
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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