Big Lots, Inc. (NYSE:BIG) – Piper Sandler lowered their FY2022 earnings per share estimates for Big Lots in a research report issued on Wednesday, January 12th. Piper Sandler analyst P. Keith now forecasts that the company will post earnings per share of $5.45 for the year, down from their prior estimate of $5.71. Piper Sandler has a “Neutral” rating and a $50.00 price objective on the stock. Piper Sandler also issued estimates for Big Lots’ Q4 2022 earnings at $1.88 EPS, Q1 2023 earnings at $0.99 EPS, Q2 2023 earnings at $0.85 EPS, Q4 2023 earnings at $2.88 EPS, FY2023 earnings at $4.88 EPS, Q1 2024 earnings at $1.49 EPS, Q2 2024 earnings at $1.02 EPS and FY2024 earnings at $5.82 EPS.
BIG has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft dropped their price target on Big Lots from $48.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday. The Goldman Sachs Group cut Big Lots from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $58.00 to $43.00 in a report on Tuesday, December 14th. Barclays decreased their price objective on Big Lots from $45.00 to $40.00 and set an “underweight” rating on the stock in a report on Wednesday. Zacks Investment Research cut Big Lots from a “hold” rating to a “strong sell” rating and set a $42.00 price objective on the stock. in a report on Wednesday, January 5th. Finally, Loop Capital decreased their price objective on Big Lots from $50.00 to $44.00 in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, Big Lots has an average rating of “Hold” and a consensus target price of $46.22.
Big Lots (NYSE:BIG) last posted its quarterly earnings results on Friday, December 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Big Lots had a return on equity of 19.03% and a net margin of 3.67%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.76 earnings per share.
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 29th. Shareholders of record on Wednesday, December 15th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Tuesday, December 14th. Big Lots’s dividend payout ratio (DPR) is 19.48%.
Big Lots announced that its Board of Directors has initiated a stock repurchase plan on Friday, December 3rd that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 17.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
A number of large investors have recently added to or reduced their stakes in BIG. Lazard Asset Management LLC acquired a new position in Big Lots during the second quarter worth $27,000. Dark Forest Capital Management LP acquired a new stake in shares of Big Lots in the third quarter valued at $30,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Big Lots by 2,042.9% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,050 shares of the company’s stock valued at $46,000 after acquiring an additional 1,001 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Big Lots in the second quarter valued at $64,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Big Lots in the second quarter valued at $66,000. Institutional investors own 98.83% of the company’s stock.
About Big Lots
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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