Big Lots (NYSE:BIG) announced that its Board of Directors has initiated a share buyback plan, which permits the company to repurchase $100.00 million in outstanding shares on Friday, March 9th, EventVestor reports. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
Big Lots (NYSE:BIG) opened at $47.47 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 0.24 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $2,000.00, a PE ratio of 10.57, a price-to-earnings-growth ratio of 0.73 and a beta of 0.99. Big Lots has a twelve month low of $45.10 and a twelve month high of $64.42.
Big Lots (NYSE:BIG) last posted its earnings results on Friday, March 9th. The company reported $2.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.43 by $0.14. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. Big Lots had a return on equity of 32.00% and a net margin of 3.60%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.26 EPS. equities research analysts expect that Big Lots will post 4.92 earnings per share for the current fiscal year.
A number of equities research analysts recently issued reports on the company. Citigroup set a $56.00 price objective on Big Lots and gave the company a “hold” rating in a research note on Tuesday. Zacks Investment Research cut Big Lots from a “buy” rating to a “hold” rating in a research note on Tuesday. KeyCorp restated an “overweight” rating and issued a $58.00 price objective (down from $63.00) on shares of Big Lots in a research note on Monday. Loop Capital lowered their price objective on Big Lots from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Morgan Stanley set a $64.00 price objective on Big Lots and gave the company a “buy” rating in a research note on Monday. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $59.64.
In other Big Lots news, insider Timothy A. Johnson sold 20,000 shares of Big Lots stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $55.00, for a total transaction of $1,100,000.00. Following the completion of the transaction, the insider now owns 65,649 shares of the company’s stock, valued at approximately $3,610,695. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey Paul Berger sold 6,000 shares of Big Lots stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $58.00, for a total value of $348,000.00. Following the transaction, the director now directly owns 7,566 shares of the company’s stock, valued at approximately $438,828. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.
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Big Lots Company Profile
Big Lots, Inc is a non-traditional, discount retailer operating in the United States. As of January 28, 2017, the Company operated a total of 1,432 stores. The Company operates through the discount retailing segment. As of January 28, 2017, the Company’s stores are located at various states of the United States, such as Alabama, Arizona, California, Colorado, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Kentucky, Maine, Michigan, Montana, Nevada, Nebraska, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, Texas, Utah and Washington.
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