Big Lots, Inc. (NYSE:BIG) to Post Q3 2024 Earnings of ($1.86) Per Share, Telsey Advisory Group Forecasts

Big Lots, Inc. (NYSE:BIG – Get Rating) – Equities researchers at Telsey Advisory Group cut their Q3 2024 earnings per share (EPS) estimates for Big Lots in a report issued on Monday, May 22nd. Telsey Advisory Group analyst J. Feldman now forecasts that the company will post earnings of ($1.86) per share for the quarter, down from their prior forecast of ($1.56). Telsey Advisory Group currently has a “Market Perform” rating and a $16.00 target price on the stock. The consensus estimate for Big Lots’ current full-year earnings is ($4.93) per share. Telsey Advisory Group also issued estimates for Big Lots’ Q4 2024 earnings at $1.07 EPS, FY2024 earnings at ($4.05) EPS and FY2025 earnings at ($1.25) EPS.

A number of other analysts have also recently issued reports on the company. StockNews.com assumed coverage on Big Lots in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Piper Sandler cut Big Lots from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $12.00 to $7.00 in a report on Friday, April 21st. Credit Suisse Group reduced their price objective on Big Lots from $15.00 to $13.00 and set an “underperform” rating for the company in a report on Monday, March 6th. Finally, The Goldman Sachs Group reduced their price objective on Big Lots from $16.00 to $14.00 and set a “sell” rating for the company in a report on Friday, March 3rd. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Big Lots currently has an average rating of “Hold” and a consensus target price of $14.00.

Big Lots Trading Down 5.5 %

NYSE:BIG opened at $7.21 on Wednesday. The stock has a 50-day simple moving average of $9.56 and a 200-day simple moving average of $14.12. The stock has a market cap of $209.30 million, a P/E ratio of -0.99 and a beta of 1.93. Big Lots has a 1 year low of $7.12 and a 1 year high of $32.25. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.15 and a current ratio of 1.40.

Big Lots (NYSE:BIG – Get Rating) last released its earnings results on Thursday, March 2nd. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.41. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Big Lots had a negative return on equity of 20.12% and a negative net margin of 3.85%. Big Lots’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.75 EPS.

Big Lots Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 17th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 16.64%. The ex-dividend date was Thursday, March 16th. Big Lots’s payout ratio is currently -16.46%.

Hedge Funds Weigh In On Big Lots

Several institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its position in Big Lots by 69.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,819 shares of the company’s stock worth $27,000 after purchasing an additional 747 shares during the period. Quarry LP acquired a new stake in shares of Big Lots in the first quarter valued at about $37,000. Belpointe Asset Management LLC bought a new stake in shares of Big Lots in the fourth quarter valued at about $41,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Big Lots by 42.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,231 shares of the company’s stock valued at $62,000 after buying an additional 1,259 shares during the period. Finally, US Bancorp DE lifted its stake in Big Lots by 32.5% during the first quarter. US Bancorp DE now owns 2,053 shares of the company’s stock worth $71,000 after purchasing an additional 503 shares during the period.

Big Lots Company Profile

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Big Lots, Inc engages in the operation of retail stores. It operates through the Discount Retailing segment. The Discount Retailing segment includes merchandising categories such as furniture, seasonal, soft home, food, consumables, hard home, and electronics, toys, and accessories. The company was founded by Sol A.