Big Lots (NYSE:BIG) Posts Earnings Results, Beats Expectations By $0.13 EPS

Big Lots (NYSE:BIG) announced its quarterly earnings results on Friday. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.13, RTT News reports. Big Lots had a net margin of 2.68% and a return on equity of 25.61%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the business posted $0.59 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis.

Shares of NYSE BIG opened at $22.75 on Friday. The firm has a 50 day moving average of $23.42 and a 200 day moving average of $30.60. The company has a current ratio of 1.25, a quick ratio of 0.17 and a debt-to-equity ratio of 2.21. The firm has a market capitalization of $858.56 million, a price-to-earnings ratio of 5.46, a price-to-earnings-growth ratio of 0.73 and a beta of 1.38. Big Lots has a 12-month low of $19.83 and a 12-month high of $49.31.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 5.27%. Big Lots’s dividend payout ratio (DPR) is 29.70%.

Several institutional investors and hedge funds have recently bought and sold shares of BIG. Atria Investments LLC raised its stake in Big Lots by 26.1% during the second quarter. Atria Investments LLC now owns 18,281 shares of the company’s stock valued at $246,000 after purchasing an additional 3,787 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Big Lots by 1.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 126,375 shares of the company’s stock valued at $3,615,000 after purchasing an additional 1,365 shares in the last quarter. Verition Fund Management LLC purchased a new stake in Big Lots during the second quarter valued at $262,000. Nuveen Asset Management LLC purchased a new stake in Big Lots during the second quarter valued at $4,155,000. Finally, UBS Asset Management Americas Inc. raised its stake in Big Lots by 19.8% during the second quarter. UBS Asset Management Americas Inc. now owns 51,654 shares of the company’s stock valued at $1,478,000 after purchasing an additional 8,531 shares in the last quarter.

A number of brokerages have recently commented on BIG. Zacks Investment Research lowered shares of Big Lots from a “buy” rating to a “hold” rating and set a $28.00 price target for the company. in a research note on Monday, July 22nd. Piper Jaffray Companies lowered shares of Big Lots from an “overweight” rating to a “neutral” rating and cut their target price for the company from $44.00 to $31.00 in a research report on Friday, May 24th. KeyCorp cut their target price on shares of Big Lots from $44.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, June 3rd. ValuEngine lowered shares of Big Lots from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 15th. Finally, Bank of America set a $23.00 target price on shares of Big Lots and gave the company a “sell” rating in a research report on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Big Lots presently has a consensus rating of “Hold” and an average price target of $32.82.

About Big Lots

Big Lots, Inc, through its subsidiaries, operates as a retailer in the United States. The company offers products under various merchandising categories, such as furniture category that includes upholstery, mattress, case goods, and ready-to-assemble departments; seasonal category, which comprises Christmas trim, lawn and garden, summer, and other holiday departments; soft home category that consists of fashion and utility bedding, bath, window, decorative textile, home organization, area rugs, home décor, and frames departments; and food category that includes beverage and grocery, candy and snacks, and specialty foods departments.

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Earnings History for Big Lots (NYSE:BIG)

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