Big Lots Price Target Increased to $53.00 by Analysts at Wedbush (BIG)
Analysts at Wedbush lifted their price target on shares of Big Lots (NYSE:BIG) from $49.00 to $53.00 in a research report issued to clients and investors on Tuesday. Wedbush’s price target indicates a potential upside of 14.35% from the company’s current price.
Shares of Big Lots (NYSE:BIG) traded down 0.22% during mid-day trading on Tuesday, hitting $46.25. The stock had a trading volume of 511,161 shares. Big Lots has a 1-year low of $25.50 and a 1-year high of $48.52. The stock has a 50-day moving average of $45.29 and a 200-day moving average of $40.11. The company has a market cap of $2.543 billion and a price-to-earnings ratio of 27.12.
Big Lots (NYSE:BIG) last issued its quarterly earnings data on Friday, August 29th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.06. The company had revenue of $1.20 billion for the quarter. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, analysts predict that Big Lots will post $2.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 26th. Shareholders 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 1.47%.
Several other analysts have also recently commented on the stock. Analysts at Telsey Advisory Group raised their price target on shares of Big Lots from $45.00 to $49.00 in a research note on Tuesday. They now have a “not rated” rating on the stock. Separately, analysts at FBR Capital Markets raised their price target on shares of Big Lots from $49.00 to $59.00 in a research note on Friday. They now have an “outperform” rating on the stock. Finally, analysts at KeyCorp reiterated a “buy” rating on shares of Big Lots in a research note on Thursday, August 28th. They now have a $55.00 price target on the stock, up previously from $53.00. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $49.58.
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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