FY2019 Earnings Estimate for Big Lots, Inc. (BIG) Issued By Oppenheimer
Big Lots, Inc. (NYSE:BIG) – Equities research analysts at Oppenheimer increased their FY2019 earnings per share (EPS) estimates for Big Lots in a research note issued on Wednesday. Oppenheimer analyst B. Nagel now forecasts that the company will post earnings of $4.95 per share for the year, up from their previous estimate of $4.50. Oppenheimer has a “Market Perform” rating on the stock. Oppenheimer also issued estimates for Big Lots’ Q4 2019 earnings at $2.78 EPS and FY2020 earnings at $5.45 EPS.
Big Lots (NYSE:BIG) last announced its quarterly earnings results on Friday, December 1st. The company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Big Lots had a net margin of 3.36% and a return on equity of 30.17%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the firm earned $0.04 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year.
Other equities analysts have also recently issued research reports about the stock. UBS Group cut shares of Big Lots from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Citigroup cut shares of Big Lots from an “outperform” rating to a “market perform” rating in a research report on Wednesday. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Big Lots from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Thursday, September 21st. KeyCorp reiterated a “buy” rating and issued a $63.00 price objective on shares of Big Lots in a research note on Friday, December 1st. Finally, Telsey Advisory Group increased their price objective on shares of Big Lots from $56.00 to $59.00 and gave the company a “market perform” rating in a research note on Monday, December 4th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Big Lots presently has an average rating of “Buy” and a consensus price target of $60.64.
Big Lots (BIG) opened at $57.37 on Friday. Big Lots has a 1 year low of $45.10 and a 1 year high of $60.20. The firm has a market cap of $2,411.43, a PE ratio of 13.86, a P/E/G ratio of 1.00 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.66 and a quick ratio of 0.24.
Hedge funds have recently modified their holdings of the company. DekaBank Deutsche Girozentrale increased its stake in shares of Big Lots by 78.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,858 shares of the company’s stock worth $144,000 after purchasing an additional 1,255 shares during the last quarter. Whittier Trust Co. purchased a new stake in shares of Big Lots during the 3rd quarter worth approximately $178,000. First Quadrant L P CA purchased a new stake in shares of Big Lots during the 3rd quarter worth approximately $182,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Big Lots during the 3rd quarter worth approximately $200,000. Finally, Csenge Advisory Group purchased a new stake in shares of Big Lots during the 3rd quarter worth approximately $218,000.
In other Big Lots news, insider Timothy A. Johnson sold 20,000 shares of the stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $55.00, for a total value of $1,100,000.00. Following the completion of the sale, the insider now owns 65,649 shares in the company, valued at approximately $3,610,695. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey Paul Berger sold 6,000 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $58.00, for a total transaction of $348,000.00. Following the completion of the sale, the director now owns 7,566 shares of the company’s stock, valued at approximately $438,828. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a $0.25 dividend. The ex-dividend date was Thursday, December 14th. This represents a $1.00 annualized dividend and a yield of 1.74%. Big Lots’s dividend payout ratio (DPR) is 25.58%.
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About Big Lots
Big Lots, Inc is a non-traditional, discount retailer operating in the United States. As of January 28, 2017, the Company operated a total of 1,432 stores. The Company operates through the discount retailing segment. As of January 28, 2017, the Company’s stores are located at various states of the United States, such as Alabama, Arizona, California, Colorado, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Kentucky, Maine, Michigan, Montana, Nevada, Nebraska, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, Texas, Utah and Washington.
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