Big Lots, Inc. (BIG) Downgraded by BidaskClub
Big Lots, Inc. (NYSE:BIG) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
Other research analysts have also issued reports about the company. Griffin Securities reissued a “buy” rating on shares of Big Lots in a report on Friday, March 3rd. Loop Capital reaffirmed a “buy” rating and set a $64.00 target price on shares of Big Lots in a report on Monday, March 6th. Zacks Investment Research raised Big Lots from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Tuesday, February 28th. Oppenheimer Holdings, Inc. set a $60.00 target price on Big Lots and gave the stock a “buy” rating in a report on Saturday, May 27th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $62.00 target price (up from $61.00) on shares of Big Lots in a report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Big Lots has an average rating of “Buy” and an average target price of $57.09.
Shares of Big Lots (NYSE BIG) traded down 0.04% during trading on Thursday, reaching $47.00. 822,124 shares of the company’s stock traded hands. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 12.76 and a beta of 0.90. Big Lots has a 1-year low of $42.40 and a 1-year high of $56.54. The company has a 50 day moving average of $48.78 and a 200-day moving average of $50.21.
Big Lots (NYSE:BIG) last issued its quarterly earnings results on Friday, May 26th. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.16. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. Big Lots had a return on equity of 29.88% and a net margin of 3.20%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company earned $0.82 earnings per share. Equities analysts predict that Big Lots will post $4.20 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 9th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.13%. Big Lots’s dividend payout ratio (DPR) is 27.25%.
In related news, insider Michael Allen Schlonsky sold 15,000 shares of the stock in a transaction on Monday, April 24th. The stock was sold at an average price of $49.98, for a total value of $749,700.00. Following the completion of the transaction, the insider now owns 52,104 shares in the company, valued at approximately $2,604,157.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lisa M. Bachmann sold 9,538 shares of the stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $51.09, for a total value of $487,296.42. Following the completion of the transaction, the insider now owns 45,920 shares of the company’s stock, valued at approximately $2,346,052.80. The disclosure for this sale can be found here. Insiders sold a total of 33,440 shares of company stock valued at $1,670,524 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank raised its position in Big Lots by 88.9% in the first quarter. Huntington National Bank now owns 2,065 shares of the company’s stock worth $101,000 after buying an additional 972 shares during the period. Advisors Preferred LLC bought a new position in Big Lots during the first quarter worth $101,000. Neuburgh Advisers LLC raised its position in Big Lots by 14.3% in the first quarter. Neuburgh Advisers LLC now owns 2,112 shares of the company’s stock worth $103,000 after buying an additional 264 shares during the period. Credit Agricole S A bought a new position in Big Lots during the fourth quarter worth $117,000. Finally, Tyers Asset Management LLC bought a new position in Big Lots during the fourth quarter worth $118,000.
About Big Lots
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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