BidaskClub cut shares of Big Lots, Inc. (NYSE:BIG) from a hold rating to a sell rating in a report released on Thursday, June 22nd.
A number of other research firms have also weighed in on BIG. Raymond James Financial, Inc. raised shares of Big Lots from a market perform rating to a strong-buy rating and set a $60.00 target price for the company in a research report on Wednesday, April 26th. Zacks Investment Research upgraded shares of Big Lots from a hold rating to a buy rating and set a $56.00 price objective on the stock in a report on Monday, May 8th. Citigroup Inc. reissued a buy rating and issued a $62.00 target price (up previously from $61.00) on shares of Big Lots in a research note on Friday, June 9th. ValuEngine cut shares of Big Lots from a buy rating to a hold rating in a research note on Friday, June 2nd. Finally, Oppenheimer Holdings, Inc. set a $60.00 price objective on shares of Big Lots and gave the stock a buy rating in a research note on Saturday, May 27th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Big Lots has a consensus rating of Buy and a consensus price target of $57.00.
Shares of Big Lots (NYSE:BIG) remained flat at $46.65 during mid-day trading on Thursday. 264,493 shares of the company were exchanged. The firm has a market capitalization of $2.06 billion, a P/E ratio of 12.67 and a beta of 0.85. The firm has a 50-day moving average price of $48.26 and a 200 day moving average price of $49.92. Big Lots has a 12-month low of $42.40 and a 12-month high of $56.54.
Big Lots (NYSE:BIG) last released its quarterly earnings data on Friday, May 26th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.16. Big Lots had a net margin of 3.20% and a return on equity of 29.88%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the business earned $0.82 EPS. Big Lots’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, equities research analysts forecast that Big Lots will post $4.20 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.14%. Big Lots’s payout ratio is presently 27.25%.
In other news, insider Lisa M. Bachmann sold 9,538 shares of the company’s stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $51.09, for a total value of $487,296.42. Following the completion of the sale, the insider now owns 45,920 shares in the company, valued at approximately $2,346,052.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Allen Schlonsky sold 15,000 shares of the stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $49.98, for a total transaction of $749,700.00. Following the transaction, the insider now owns 52,104 shares of the company’s stock, valued at approximately $2,604,157.92. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of BIG. Huntington National Bank raised its stake in shares of Big Lots by 88.9% in the first quarter. Huntington National Bank now owns 2,065 shares of the company’s stock worth $101,000 after buying an additional 972 shares during the last quarter. Advisors Preferred LLC purchased a new position in shares of Big Lots during the first quarter valued at approximately $101,000. Neuburgh Advisers LLC raised its position in shares of Big Lots by 14.3% in the first quarter. Neuburgh Advisers LLC now owns 2,112 shares of the company’s stock valued at $103,000 after buying an additional 264 shares in the last quarter. Credit Agricole S A purchased a new position in shares of Big Lots during the fourth quarter valued at approximately $117,000. Finally, Tyers Asset Management LLC purchased a new position in shares of Big Lots during the fourth quarter valued at approximately $118,000.
About Big Lots
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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