Big Lots (BIG) Releases Quarterly Earnings Results
Big Lots (NYSE:BIG) posted its quarterly earnings results on Friday. The company reported $0.36 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.30 by $0.06, American Banking and Market News reports. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the company posted $0.31 earnings per share.
Big Lots (NYSE:BIG) opened at 47.20 on Friday. Big Lots has a 52 week low of $25.50 and a 52 week high of $48.52. The stock has a 50-day moving average of $45.26 and a 200-day moving average of $39.97. The company has a market cap of $2.618 billion and a price-to-earnings ratio of 28.80.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 26th. Stockholders of record on Friday, September 12th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.44%.
Several analysts have recently commented on the stock. Analysts at KeyCorp reiterated a “buy” rating on shares of Big Lots in a research note on Thursday. They now have a $55.00 price target on the stock, up previously from $53.00. On a related note, analysts at Benchmark Co. raised their price target on shares of Big Lots from $49.00 to $53.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Big Lots from $46.00 to $53.00 in a research note on Friday, August 8th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $48.08.
Big Lots, Inc, through its wholly owned subsidiaries, is a North America’s closeout retailer. At January 28, 2012, the Company operated a total of 1,533 stores in two countries: the United States and Canada.
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