Big Lots (BIG) Issues Q1 2019 Earnings Guidance

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

NYSE:BIG opened at $36.18 on Friday. Big Lots has a twelve month low of $26.21 and a twelve month high of $50.35. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 8.13, a price-to-earnings-growth ratio of 0.97 and a beta of 1.31. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.27 and a current ratio of 1.71.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Friday, March 22nd will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.32%. Big Lots’s payout ratio is currently 26.97%.

Several analysts have weighed in on BIG shares. Morgan Stanley cut 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 Big Lots from a neutral rating to an overweight rating and raised their price objective for the company from $43.00 to $53.00 in a report on Monday, November 19th. Zacks Investment Research raised Big Lots from a sell rating to a hold rating in a report on Tuesday, February 12th. Goldman Sachs Group cut Big Lots from a buy rating to a neutral rating and set a $34.00 price objective on the stock. in a report on Thursday, January 10th. Finally, Telsey Advisory Group reissued a market perform rating and set a $34.00 price objective (down from $45.00) on shares of Big Lots in a report on Monday, December 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. Big Lots currently has a consensus rating of Hold and a consensus price target of $44.25.

In related news, CEO Bruce K. Thorn purchased 8,500 shares of Big Lots stock in a transaction that occurred on Friday, December 14th. The shares were acquired at an average cost of $29.46 per share, for a total transaction of $250,410.00. Following the transaction, the chief executive officer now directly owns 8,500 shares in the company, valued at $250,410. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

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About Big Lots

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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