Big Lots, Inc. (BIG) to Issue Quarterly Dividend of $0.25 on September 22nd
Big Lots, Inc. (NYSE:BIG) announced a quarterly dividend on Friday, August 25th, RTT News reports. Investors of record on Friday, September 8th will be paid a dividend of 0.25 per share on Friday, September 22nd. This represents a $1.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Thursday, September 7th.
Big Lots has a dividend payout ratio of 23.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Big Lots to earn $4.45 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 22.5%.
Shares of Big Lots (NYSE:BIG) opened at 47.79 on Friday. The firm has a market capitalization of $2.06 billion, a P/E ratio of 12.39 and a beta of 0.93. Big Lots has a one year low of $42.40 and a one year high of $56.54. The company’s 50 day moving average price is $49.48 and its 200 day moving average price is $49.28.
Big Lots (NYSE:BIG) last announced its quarterly earnings results on Friday, August 25th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.05. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. Big Lots had a return on equity of 30.32% and a net margin of 3.31%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 EPS. On average, analysts expect that Big Lots will post $4.24 EPS for the current fiscal year.
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Several brokerages have recently weighed in on BIG. KeyCorp restated a “buy” rating on shares of Big Lots in a report on Friday. Piper Jaffray Companies restated a “hold” rating and issued a $52.00 price objective on shares of Big Lots in a report on Friday. Zacks Investment Research lowered Big Lots from a “buy” rating to a “hold” rating in a report on Wednesday. Loop Capital set a $64.00 price objective on Big Lots and gave the company a “buy” rating in a report on Wednesday. Finally, Deutsche Bank AG restated a “buy” rating and issued a $57.00 price objective (up previously from $56.00) on shares of Big Lots in a report on Saturday, August 26th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $57.67.
In other news, Director Russell Solt sold 2,100 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $51.50, for a total transaction of $108,150.00. Following the completion of the sale, the director now directly owns 10,041 shares of the company’s stock, valued at $517,111.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David J. Campisi sold 28,875 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $50.04, for a total value of $1,444,905.00. Following the sale, the chief executive officer now directly owns 225,018 shares of the company’s stock, valued at $11,259,900.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,577 shares of company stock valued at $3,717,951. 1.70% of the stock is currently owned by company insiders.
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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