Big Lots (BIG) Rating Reiterated by Northcoast Research
Northcoast Research reiterated their neutral rating on shares of Big Lots (NYSE:BIG) in a research report released on Monday morning. Northcoast Research also issued estimates for Big Lots’ Q1 2019 earnings at $1.21 EPS, Q2 2019 earnings at $0.75 EPS, FY2019 earnings at $4.85 EPS, Q1 2020 earnings at $1.25 EPS, Q2 2020 earnings at $0.83 EPS, Q3 2020 earnings at $0.04 EPS, Q4 2020 earnings at $3.09 EPS and FY2020 earnings at $5.19 EPS.
Several other brokerages also recently weighed in on BIG. Loop Capital reiterated a buy rating and issued a $70.00 price objective on shares of Big Lots in a research report on Monday, January 29th. Zacks Investment Research raised Big Lots from a hold rating to a buy rating and set a $69.00 target price on the stock in a research note on Wednesday, January 31st. KeyCorp reissued a buy rating and set a $63.00 target price on shares of Big Lots in a research note on Friday, December 1st. Citigroup set a $69.00 target price on Big Lots and gave the company a buy rating in a research note on Tuesday, December 5th. Finally, Telsey Advisory Group boosted their target price on 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 equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $59.64.
Shares of Big Lots (NYSE BIG) opened at $47.47 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.66 and a quick ratio of 0.24. Big Lots has a 12-month low of $45.10 and a 12-month high of $64.42. The firm has a market capitalization of $1,990.67, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 0.71 and a beta of 0.99.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 6th. Stockholders of record on Friday, March 23rd will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, March 22nd. This is a boost from Big Lots’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 2.53%. Big Lots’s payout ratio is 22.83%.
Big Lots announced that its Board of Directors has authorized a stock buyback program on Friday, March 9th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other news, insider Timothy A. Johnson sold 20,000 shares of the stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $55.00, for a total value of $1,100,000.00. Following the sale, the insider now directly owns 65,649 shares of the company’s stock, valued at $3,610,695. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey Paul Berger sold 6,000 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $58.00, for a total value of $348,000.00. Following the completion of the sale, the director now directly owns 7,566 shares in the company, valued at $438,828. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. lifted its holdings in shares of Big Lots by 488.2% during the fourth quarter. Sei Investments Co. now owns 753,487 shares of the company’s stock valued at $25,515,000 after purchasing an additional 625,395 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Big Lots during the fourth quarter valued at $25,598,000. J. Goldman & Co LP bought a new position in shares of Big Lots during the fourth quarter valued at $21,077,000. APG Asset Management N.V. lifted its holdings in shares of Big Lots by 160.7% during the fourth quarter. APG Asset Management N.V. now owns 560,800 shares of the company’s stock valued at $26,223,000 after purchasing an additional 345,700 shares in the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of Big Lots by 252.0% during the fourth quarter. Schroder Investment Management Group now owns 353,400 shares of the company’s stock valued at $19,843,000 after purchasing an additional 253,000 shares in the last quarter.
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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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