Big Lots PT Raised to $59.00 at FBR Capital Markets (BIG)
Stock analysts at FBR Capital Markets raised their target price on shares of Big Lots (NYSE:BIG) from $49.00 to $59.00 in a report issued on Friday. The firm currently has an “outperform” rating on the stock. FBR Capital Markets’ price objective would suggest a potential upside of 25.00% from the company’s current price.
A number of other firms have also recently commented on BIG. 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. Separately, 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 investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $48.92.
Shares of Big Lots (NYSE:BIG) traded down 1.97% during mid-day trading on Friday, hitting $46.27. 2,453,607 shares of the company’s stock traded hands. Big Lots has a 52-week low of $25.50 and a 52-week high of $48.52. The stock’s 50-day moving average is $45.26 and its 200-day moving average is $39.97. The company has a market cap of $2.567 billion and a price-to-earnings ratio of 28.35.
Big Lots (NYSE:BIG) last announced its earnings results on Friday, August 29th. The company reported $0.36 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.30 by $0.06. 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’s revenue was up 1.2% compared to the same quarter last year. Analysts expect that Big Lots will post $2.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 26th. Investors 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%.
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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