Big Lots, Inc. (BIG) Given Consensus Rating of “Hold” by Analysts
Shares of Big Lots, Inc. (NYSE:BIG) have been assigned a consensus recommendation of “Hold” from the fifteen research firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $35.43.
Several analysts have weighed in on the company. Morgan Stanley boosted their price objective on Big Lots from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, March 11th. Telsey Advisory Group reissued a “market perform” rating and set a $32.00 price objective (down from $40.00) on shares of Big Lots in a report on Monday. ValuEngine cut Big Lots from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 15th. Raymond James boosted their price objective on Big Lots from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, March 11th. Finally, Bank of America cut Big Lots from a “buy” rating to an “underperform” rating and set a $26.20 price objective for the company. in a report on Monday.
In other news, insider Nicholas E. Padovano sold 4,734 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $38.19, for a total value of $180,791.46. Following the completion of the sale, the insider now directly owns 10,776 shares of the company’s stock, valued at approximately $411,535.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Allen Schlonsky sold 5,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $38.99, for a total value of $194,950.00. Following the completion of the sale, the executive vice president now directly owns 67,296 shares of the company’s stock, valued at $2,623,871.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,380 shares of company stock valued at $434,290. 1.10% of the stock is currently owned by company insiders.
NYSE:BIG traded up $0.80 on Thursday, hitting $28.37. 55,517 shares of the stock were exchanged, compared to its average volume of 1,482,023. The stock has a market capitalization of $1.11 billion, a P/E ratio of 7.00, a P/E/G ratio of 0.91 and a beta of 1.44. Big Lots has a 52 week low of $25.73 and a 52 week high of $50.35. The company has a current ratio of 1.25, a quick ratio of 0.17 and a debt-to-equity ratio of 2.21.
Big Lots (NYSE:BIG) last announced its quarterly earnings data on Friday, May 31st. The company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.22. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Big Lots had a return on equity of 25.61% and a net margin of 2.68%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.95 EPS. As a group, equities analysts predict that Big Lots will post 3.77 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.23%. Big Lots’s dividend payout ratio (DPR) is presently 29.70%.
Big Lots announced that its Board of Directors has approved a share repurchase plan on Friday, March 8th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
About Big Lots
Big Lots, Inc, through its subsidiaries, operates as a 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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