Oppenheimer Reaffirms Market Perform Rating for Big Lots (BIG)
Oppenheimer reaffirmed their market perform rating on shares of Big Lots (NYSE:BIG) in a report issued on Wednesday. Oppenheimer also issued estimates for Big Lots’ Q1 2019 earnings at $1.35 EPS, Q2 2019 earnings at $0.78 EPS, Q3 2019 earnings at $0.04 EPS, Q4 2019 earnings at $2.78 EPS, FY2019 earnings at $4.95 EPS and FY2020 earnings at $5.45 EPS.
A number of other equities research analysts have also issued reports on BIG. Citigroup lowered Big Lots from an outperform rating to a market perform rating in a research note on Wednesday. They noted that the move was a valuation call. UBS Group lowered Big Lots from an outperform rating to a market perform rating in a research note on Wednesday. Piper Jaffray Companies set a $52.00 target price on Big Lots and gave the company a hold rating in a research note on Sunday, October 1st. Zacks Investment Research upgraded Big Lots from a hold rating to a buy rating and set a $59.00 target price for the company in a research note on Tuesday, October 10th. Finally, Telsey Advisory Group increased their target price on Big Lots from $56.00 to $59.00 and gave the company a market perform rating in a research note on Monday, December 4th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Big Lots presently has a consensus rating of Buy and a consensus target price of $60.64.
Shares of Big Lots (NYSE BIG) traded down $0.10 during trading hours on Wednesday, reaching $57.37. The company’s stock had a trading volume of 1,368,800 shares, compared to its average volume of 899,647. The firm has a market capitalization of $2,411.43, a price-to-earnings ratio of 14.67, a PEG ratio of 1.00 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.66 and a quick ratio of 0.24. Big Lots has a 12 month low of $45.10 and a 12 month high of $60.20.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, December 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.74%. Big Lots’s dividend payout ratio (DPR) is presently 25.58%.
In other Big Lots news, Director Jeffrey Paul Berger sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $58.00, for a total transaction of $348,000.00. Following the completion of the sale, the director now owns 7,566 shares in the company, valued at approximately $438,828. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Timothy A. Johnson sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $55.00, for a total value of $1,100,000.00. Following the sale, the insider now owns 65,649 shares of the company’s stock, valued at approximately $3,610,695. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Csenge Advisory Group acquired a new stake in Big Lots during the 3rd quarter valued at approximately $218,000. Canada Pension Plan Investment Board grew its stake in Big Lots by 20.2% during the 3rd quarter. Canada Pension Plan Investment Board now owns 90,299 shares of the company’s stock valued at $4,837,000 after purchasing an additional 15,200 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in Big Lots during the 3rd quarter valued at approximately $615,000. Jane Street Group LLC bought a new position in Big Lots during the 3rd quarter worth approximately $524,000. Finally, State Street Corp lifted its holdings in Big Lots by 1.8% during the 2nd quarter. State Street Corp now owns 1,640,504 shares of the company’s stock worth $79,233,000 after buying an additional 28,509 shares during the last quarter.
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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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