Big Lots (NYSE:BIG) Releases Quarterly Earnings Results, Misses Expectations By $1.49 EPS

Big Lots (NYSE:BIG – Get Rating) issued its quarterly earnings results on Friday. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($1.49), MarketWatch Earnings reports. Big Lots had a return on equity of 16.21% and a net margin of 2.89%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the business earned $2.62 EPS. The company’s revenue for the quarter was down 15.4% on a year-over-year basis.

BIG opened at $26.94 on Friday. The company has a fifty day moving average price of $33.92 and a 200-day moving average price of $39.03. The firm has a market capitalization of $769.35 million, a P/E ratio of 5.18, a price-to-earnings-growth ratio of 0.52 and a beta of 2.12. Big Lots has a one year low of $24.87 and a one year high of $73.23.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, June 10th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.45%. Big Lots’s dividend payout ratio (DPR) is currently 23.08%.

In other news, EVP Nicholas E. Padovano sold 4,300 shares of the business’s stock in a transaction on Wednesday, April 6th. The shares were sold at an average price of $34.30, for a total transaction of $147,490.00. Following the completion of the transaction, the executive vice president now directly owns 25,979 shares in the company, valued at approximately $891,079.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nicholas E. Padovano sold 3,500 shares of the business’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $34.82, for a total transaction of $121,870.00. Following the transaction, the executive vice president now owns 25,841 shares of the company’s stock, valued at $899,783.62. The disclosure for this sale can be found here. Insiders have sold a total of 10,000 shares of company stock valued at $349,918 over the last 90 days. Company insiders own 2.70% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Big Lots by 7.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,923,315 shares of the company’s stock worth $66,552,000 after acquiring an additional 126,412 shares during the last quarter. State Street Corp lifted its holdings in shares of Big Lots by 3.0% during the 4th quarter. State Street Corp now owns 1,337,933 shares of the company’s stock worth $60,274,000 after acquiring an additional 39,369 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Big Lots by 27.0% during the 1st quarter. Northern Trust Corp now owns 693,965 shares of the company’s stock worth $24,011,000 after acquiring an additional 147,644 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Big Lots by 137.7% during the 2nd quarter. Morgan Stanley now owns 588,818 shares of the company’s stock worth $38,867,000 after acquiring an additional 341,116 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Big Lots by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 573,190 shares of the company’s stock worth $25,822,000 after acquiring an additional 21,047 shares during the last quarter. 94.42% of the stock is owned by institutional investors.

BIG has been the subject of several research analyst reports. Loop Capital decreased their price target on shares of Big Lots from $44.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, March 4th. JPMorgan Chase & Co. decreased their price target on shares of Big Lots from $31.00 to $25.00 in a research note on Tuesday, May 10th. Bank of America decreased their price target on shares of Big Lots from $31.00 to $25.00 and set an “underperform” rating for the company in a research note on Tuesday. Telsey Advisory Group decreased their price target on shares of Big Lots from $50.00 to $32.00 and set a “market perform” rating for the company in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Big Lots from $44.00 to $31.00 in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $32.56.

About Big Lots (Get Rating)

Big Lots, Inc, through its subsidiaries, operates as a home discount retailer in the United States. The company offers products under various merchandising categories, such as furniture category that includes upholstery, mattresses, case goods, and ready-to-assemble departments; seasonal category, which comprises patio furniture, gazebos, Christmas trim, 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, specialty foods, and pet departments.

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