Big Lots, Inc. (BIG) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS
Big Lots, Inc. (NYSE:BIG) issued its earnings results on Friday. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.62 by $0.05, Bloomberg Earnings reports. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Big Lots had a net margin of 3.20% and a return on equity of 29.88%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. Big Lots updated its Q3 guidance to $0.01-0.05 EPS and its Q4 guidance to $2.30-2.38 EPS.
Big Lots (BIG) traded down 0.96% on Friday, reaching $49.61. 3,311,564 shares of the company’s stock traded hands. The company’s 50 day moving average is $49.35 and its 200-day moving average is $49.41. Big Lots has a 52-week low of $42.40 and a 52-week high of $56.54. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 12.86 and a beta of 0.85.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.00 annualized dividend and a yield of 2.02%. Big Lots’s dividend payout ratio (DPR) is presently 26.04%.
In other news, insider Lisa M. Bachmann sold 40,000 shares of Big Lots stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $51.00, for a total transaction of $2,040,000.00. Following the sale, the insider now owns 48,089 shares in the company, valued at $2,452,539. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Russell Solt sold 2,100 shares of Big Lots stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $51.50, for a total transaction of $108,150.00. Following the sale, the director now owns 10,041 shares in the company, valued at approximately $517,111.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,975 shares of company stock worth $3,593,055. 1.70% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in BIG. Huntington National Bank raised its position in 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 period. Advisors Preferred LLC acquired a new position in Big Lots during the first quarter worth $101,000. Neuburgh Advisers LLC raised its position in Big Lots by 14.3% in the first quarter. Neuburgh Advisers LLC now owns 2,112 shares of the company’s stock worth $103,000 after buying an additional 264 shares during the period. IFP Advisors Inc raised its position in Big Lots by 13.6% in the second quarter. IFP Advisors Inc now owns 2,334 shares of the company’s stock worth $113,000 after buying an additional 280 shares during the period. Finally, FNY Managed Accounts LLC acquired a new position in Big Lots during the first quarter worth $123,000.
Several analysts have commented on the stock. BidaskClub raised shares of Big Lots from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Big Lots from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, August 17th. Oppenheimer Holdings, Inc. set a $60.00 price target on shares of Big Lots and gave the company a “buy” rating in a report on Friday. Loop Capital reissued a “buy” rating and issued a $64.00 price target on shares of Big Lots in a report on Tuesday, May 30th. Finally, ValuEngine lowered shares of Big Lots from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $58.18.
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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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