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

Big Lots (NYSE:BIGGet Rating) issued its quarterly earnings data 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 net margin of 2.89% and a return on equity of 16.21%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the firm posted $2.62 EPS. The company’s revenue for the quarter was down 15.4% compared to the same quarter last year.

BIG stock opened at $26.94 on Friday. The firm has a 50 day moving average of $33.92 and a 200 day moving average of $38.96. The stock has a market capitalization of $769.41 million, a PE ratio of 12.30, a price-to-earnings-growth ratio of 0.52 and a beta of 2.12. Big Lots has a 52 week low of $24.87 and a 52 week high of $73.23.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, June 10th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date is Thursday, June 9th. Big Lots’s payout ratio is currently 54.79%.

A number of analysts have recently commented on the company. Zacks Investment Research upgraded Big Lots from a “sell” rating to a “hold” rating and set a $37.00 price target on the stock in a report on Tuesday, April 12th. TheStreet downgraded Big Lots from a “b-” rating to a “c+” rating in a report on Thursday, February 3rd. StockNews.com started coverage on Big Lots in a research note on Thursday, March 31st. They issued a “hold” rating for the company. JPMorgan Chase & Co. lowered their target price on Big Lots from $31.00 to $25.00 in a research report on Tuesday, May 10th. Finally, Bank of America decreased their target price on Big Lots from $31.00 to $25.00 and set an “underperform” rating for the company in a research report on Tuesday, May 24th. Four investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $32.56.

In related 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 value of $147,490.00. Following the completion of the sale, the executive vice president now owns 25,979 shares of the company’s stock, valued at approximately $891,079.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Nicholas E. Padovano sold 900 shares of the company’s stock in a transaction on Tuesday, March 22nd. The stock was sold at an average price of $38.39, for a total transaction of $34,551.00. The disclosure for this sale can be found here. Insiders sold a total of 10,000 shares of company stock valued at $349,918 over the last quarter. 2.70% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in BIG. Federated Hermes Inc. purchased a new stake in Big Lots during the 1st quarter worth about $827,000. Baird Financial Group Inc. boosted its position in Big Lots by 26.6% in the 1st quarter. Baird Financial Group Inc. now owns 22,929 shares of the company’s stock valued at $793,000 after buying an additional 4,815 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Big Lots by 58.5% during the first quarter. MetLife Investment Management LLC now owns 16,782 shares of the company’s stock worth $581,000 after purchasing an additional 6,194 shares during the last quarter. Royal Bank of Canada raised its stake in Big Lots by 49.2% during the first quarter. Royal Bank of Canada now owns 16,256 shares of the company’s stock worth $562,000 after acquiring an additional 5,358 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Big Lots during the fourth quarter worth about $395,000. 94.42% of the stock is owned by institutional investors.

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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Earnings History for Big Lots (NYSE:BIG)

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