Big Lots (NYSE:BIG) Updates Q4 Earnings Guidance

Big Lots (NYSE:BIG) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share guidance of $1.80-1.95 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.17.

Shares of NYSE BIG traded down $3.33 during trading on Monday, reaching $46.34. 1,266,530 shares of the stock were exchanged, compared to its average volume of 1,153,573. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 7.52, a price-to-earnings-growth ratio of 0.68 and a beta of 2.20. The business’s 50-day moving average price is $45.87 and its 200 day moving average price is $50.61. Big Lots has a twelve month low of $40.06 and a twelve month high of $73.23.

Big Lots (NYSE:BIG) last released its quarterly earnings results on Friday, December 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.02. Big Lots had a net margin of 3.67% and a return on equity of 19.03%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the firm posted $0.76 EPS. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. Equities analysts anticipate that Big Lots will post 5.85 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 29th. Stockholders of record on Wednesday, December 15th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Tuesday, December 14th. Big Lots’s payout ratio is currently 19.48%.

Big Lots announced that its board has authorized a stock buyback program on Friday, December 3rd that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 17.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

BIG has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Big Lots from $47.00 to $48.00 and gave the company a hold rating in a research report on Monday, December 6th. Piper Sandler lowered shares of Big Lots from an overweight rating to a neutral rating and reduced their target price for the company from $60.00 to $50.00 in a research note on Tuesday, September 21st. Telsey Advisory Group reduced their target price on shares of Big Lots from $57.00 to $55.00 and set a market perform rating for the company in a research note on Monday, December 6th. The Goldman Sachs Group lowered shares of Big Lots from a neutral rating to a sell rating and reduced their target price for the company from $58.00 to $43.00 in a research note on Tuesday, December 14th. Finally, Zacks Investment Research cut Big Lots from a hold rating to a strong sell rating and set a $42.00 target price for the company. in a research report on Wednesday, January 5th. Four analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, Big Lots presently has an average rating of Hold and an average target price of $48.38.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake in shares of Big Lots by 21.5% in the 3rd quarter. Royal Bank of Canada now owns 6,834 shares of the company’s stock valued at $295,000 after purchasing an additional 1,211 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Big Lots by 30.3% in the 3rd quarter. LPL Financial LLC now owns 19,571 shares of the company’s stock valued at $849,000 after purchasing an additional 4,551 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Big Lots by 137.7% in the 2nd quarter. Morgan Stanley now owns 588,818 shares of the company’s stock valued at $38,867,000 after purchasing an additional 341,116 shares during the last quarter. Hedge funds and other institutional investors own 99.79% of the company’s stock.

Big Lots Company Profile

Big Lots, Inc engages in the operation of retail stores. It operates through the Discount Retailing segment which includes merchandising categories such as furniture, seasonal, soft home, food, consumables, hard home, and electronics, toys, and accessories. The company was founded by Sol A. Shenk in 1967 and is headquartered in Columbus, OH.

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Earnings History and Estimates for Big Lots (NYSE:BIG)

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