Big Lots (BIG) Hits New 1-Year Low Following Weak Earnings

Shares of Big Lots, Inc. (NYSE:BIG) hit a new 52-week low during mid-day trading on Friday following a weaker than expected earnings announcement. The stock traded as low as $30.75 and last traded at $30.86, with a volume of 10992177 shares trading hands. The stock had previously closed at $40.30.

The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.15). Big Lots had a net margin of 3.14% and a return on equity of 27.83%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the company posted $0.06 earnings per share. Big Lots’s quarterly revenue was up 3.6% on a year-over-year basis.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be issued a $0.30 dividend. The ex-dividend date is Thursday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.87%. Big Lots’s payout ratio is 26.97%.

BIG has been the subject of a number of research reports. Piper Jaffray Companies raised shares of Big Lots from a “neutral” rating to an “overweight” rating and upped their target price for the company from $43.00 to $53.00 in a report on Monday, November 19th. ValuEngine raised shares of Big Lots from a “strong sell” rating to a “sell” rating in a report on Thursday, October 11th. Bank of America initiated coverage on shares of Big Lots in a report on Monday, November 5th. They issued a “buy” rating and a $56.00 target price for the company. Finally, Loop Capital upped their target price on shares of Big Lots from $48.00 to $48.00 and gave the company a “hold” rating in a report on Monday, August 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $50.81.

A number of hedge funds and other institutional investors have recently bought and sold shares of BIG. Principal Financial Group Inc. raised its holdings in Big Lots by 2.8% during the first quarter. Principal Financial Group Inc. now owns 232,097 shares of the company’s stock worth $10,103,000 after purchasing an additional 6,409 shares in the last quarter. Bank of Montreal Can purchased a new position in Big Lots during the second quarter worth about $2,750,000. Janney Montgomery Scott LLC increased its holdings in Big Lots by 21.5% in the second quarter. Janney Montgomery Scott LLC now owns 20,235 shares of the company’s stock valued at $845,000 after buying an additional 3,584 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Big Lots by 13,578.9% in the second quarter. Victory Capital Management Inc. now owns 816,906 shares of the company’s stock valued at $34,131,000 after buying an additional 810,934 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in Big Lots in the second quarter valued at about $569,000.

The company has a current ratio of 1.69, a quick ratio of 0.32 and a debt-to-equity ratio of 0.70. The firm has a market cap of $1.68 billion, a PE ratio of 6.97, a PEG ratio of 1.07 and a beta of 0.95.

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About Big Lots (NYSE:BIG)

Big Lots, Inc, through its subsidiaries, operates as a community retailer in the United States. The company offers products under various merchandising categories, such as furniture category that includes upholstery, mattress, case goods, and ready-to-assemble departments; seasonal category, which comprises Christmas trim, lawn and garden, summer, and other holiday departments; soft home category that consists of fashion and utility bedding, bath, window, decorative textile, home organization, area rugs, home décor, and frames departments; and food category that includes beverage and grocery, candy and snacks, and specialty foods departments.

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