Big Lots (BIG) to Buyback $100.00 million in Stock

Big Lots (NYSE:BIG) declared that its Board of Directors has authorized a stock buyback plan, which authorizes the company to repurchase $100.00 million in shares on Friday, March 9th. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

BIG stock traded up $0.07 during midday trading on Thursday, reaching $44.42. 1,409,958 shares of the stock were exchanged, compared to its average volume of 1,455,062. The firm has a market capitalization of $1,819.18, a P/E ratio of 9.98, a P/E/G ratio of 0.66 and a beta of 1.13. Big Lots has a 52 week low of $42.36 and a 52 week high of $64.42. The company has a quick ratio of 0.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.30.

Big Lots (NYSE:BIG) last issued its quarterly earnings data on Friday, March 9th. The company reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.14. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. Big Lots had a return on equity of 31.12% and a net margin of 3.60%. Big Lots’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.26 EPS. equities research analysts expect that Big Lots will post 4.88 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 6th. Investors of record on Friday, March 23rd will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, March 22nd. This represents a $1.20 dividend on an annualized basis and a yield of 2.70%. This is a positive change from Big Lots’s previous quarterly dividend of $0.25. Big Lots’s payout ratio is currently 26.97%.

Several brokerages have weighed in on BIG. MKM Partners set a $58.00 price objective on Big Lots and gave the company a “buy” rating in a report on Monday, March 12th. Barclays reiterated a “hold” rating and issued a $50.00 price target on shares of Big Lots in a research note on Thursday, March 15th. Zacks Investment Research lowered Big Lots from a “buy” rating to a “hold” rating in a research note on Tuesday, March 13th. Northcoast Research reiterated a “neutral” rating on shares of Big Lots in a research note on Monday, March 12th. Finally, ValuEngine lowered Big Lots from a “buy” rating to a “hold” rating in a research note on Thursday, March 22nd. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $58.83.

In related news, CEO David J. Campisi sold 25,414 shares of the business’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $47.29, for a total transaction of $1,201,828.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jeffrey Paul Berger sold 6,000 shares of the business’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $58.00, for a total value of $348,000.00. Following the sale, the director now owns 7,566 shares in the company, valued at approximately $438,828. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

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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 d├ęcor, 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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