Big Lots (BIG) Updates Q1 Earnings Guidance

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Big Lots (NYSE:BIG) issued an update on its first quarter earnings guidance on Friday morning. The company provided earnings per share guidance of $0.65-0.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.92. Big Lots also updated its FY 2019 guidance to $3.55-3.75 EPS.

Shares of BIG traded up $2.47 during midday trading on Friday, hitting $34.31. 2,709,261 shares of the company traded hands, compared to its average volume of 930,068. Big Lots has a 52 week low of $26.21 and a 52 week high of $55.37. The company has a market capitalization of $1.25 billion, a PE ratio of 7.71, a price-to-earnings-growth ratio of 0.97 and a beta of 1.31. The company has a quick ratio of 0.27, a current ratio of 1.71 and a debt-to-equity ratio of 1.05.

Big Lots (NYSE:BIG) last announced its quarterly earnings results on Friday, March 8th. The company reported $2.68 EPS for the quarter, beating the Zacks’ consensus estimate of $2.30 by $0.38. Big Lots had a net margin of 2.91% and a return on equity of 26.11%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the firm earned $2.57 EPS. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, sell-side analysts expect that Big Lots will post 3.65 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Investors of record on Friday, March 22nd will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.50%. Big Lots’s payout ratio is 26.97%.

BIG has been the subject of a number of analyst reports. Morgan Stanley downgraded shares of Big Lots from an overweight rating to an equal weight rating and lowered their price target for the company from $43.00 to $33.00 in a report on Monday, January 7th. Piper Jaffray Companies raised shares of Big Lots from a neutral rating to an overweight rating and increased their price target for the company from $43.00 to $53.00 in a report on Monday, November 19th. Zacks Investment Research raised shares of Big Lots from a sell rating to a hold rating in a report on Tuesday, February 12th. Goldman Sachs Group downgraded shares of Big Lots from a buy rating to a neutral rating and set a $34.00 price target for the company. in a report on Thursday, January 10th. Finally, Telsey Advisory Group reaffirmed a market perform rating and issued a $34.00 price target (down previously from $45.00) on shares of Big Lots in a report on Monday, December 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $44.25.

In related news, CEO Bruce K. Thorn bought 8,500 shares of Big Lots stock in a transaction dated Friday, December 14th. The shares were acquired at an average cost of $29.46 per share, with a total value of $250,410.00. Following the completion of the transaction, the chief executive officer now owns 8,500 shares in the company, valued at approximately $250,410. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

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Big Lots Company Profile

Big Lots, Inc, through its subsidiaries, operates as a community 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 d├ęcor, and frames departments; and food category that includes beverage and grocery, candy and snacks, and specialty foods departments.

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Earnings History and Estimates for Big Lots (NYSE:BIG)

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