Big Lots (NYSE:BIG) Issues FY 2021 Earnings Guidance

Big Lots (NYSE:BIG) updated its FY 2021 earnings guidance on Friday. The company provided EPS guidance of $5.900-$6.050 for the period, compared to the Thomson Reuters consensus EPS estimate of $6.740. The company issued revenue guidance of -.Big Lots also updated its Q3 2021 guidance to $-0.200-$-0.100 EPS.

Several research firms recently weighed in on BIG. Bank of America reduced their price objective on shares of Big Lots from $50.00 to $45.00 and set an underperform rating for the company in a report on Monday, August 30th. The Goldman Sachs Group cut their price objective on Big Lots from $66.00 to $58.00 and set a neutral rating on the stock in a report on Monday, August 30th. Telsey Advisory Group downgraded Big Lots from an outperform rating to a market perform rating and set a $72.00 price objective on the stock. in a report on Friday, August 27th. Deutsche Bank Aktiengesellschaft cut their price objective on Big Lots from $63.00 to $53.00 and set a hold rating on the stock in a report on Monday, August 30th. Finally, Loop Capital dropped their target price on Big Lots from $60.00 to $50.00 and set a hold rating on the stock in a report on Monday, August 30th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Big Lots currently has an average rating of Hold and an average price target of $55.90.

Shares of Big Lots stock opened at $46.56 on Friday. The stock has a market capitalization of $1.52 billion, a P/E ratio of 6.59, a PEG ratio of 0.68 and a beta of 2.31. The stock has a 50 day moving average price of $53.24 and a two-hundred day moving average price of $61.72. Big Lots has a 12-month low of $42.05 and a 12-month high of $73.23.

Big Lots (NYSE:BIG) last announced its earnings results on Thursday, August 26th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). Big Lots had a return on equity of 21.00% and a net margin of 4.20%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the company earned $2.75 EPS. The firm’s revenue for the quarter was down 11.4% compared to the same quarter last year. Analysts expect that Big Lots will post 6.03 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 24th. Stockholders of record on Friday, September 10th were given a $0.30 dividend. The ex-dividend date was Thursday, September 9th. This represents a $1.20 annualized dividend and a dividend yield of 2.58%. Big Lots’s dividend payout ratio is 16.33%.

Big Lots announced that its board has authorized a stock repurchase plan on Friday, August 27th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 29.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

In other news, EVP Michael Allen Schlonsky sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 21st. The stock was sold at an average price of $61.27, for a total value of $122,540.00. Following the completion of the sale, the executive vice president now directly owns 65,951 shares of the company’s stock, valued at $4,040,817.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

An institutional investor recently raised its position in Big Lots stock. Morgan Stanley lifted its position in Big Lots, Inc. (NYSE:BIG) by 137.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 588,818 shares of the company’s stock after purchasing an additional 341,116 shares during the quarter. Morgan Stanley owned 1.70% of Big Lots worth $38,867,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 94.45% 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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