Big Lots, Inc. (NYSE:BIG) – Piper Sandler increased their Q4 2022 EPS estimates for shares of Big Lots in a report released on Friday, June 26th. Piper Sandler analyst P. Keith now anticipates that the company will post earnings per share of $3.82 for the quarter, up from their previous forecast of $3.54. Piper Sandler has a “Overweight” rating and a $53.00 price target on the stock.
Several other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Big Lots from a “buy” rating to a “hold” rating and set a $38.00 target price on the stock. in a research report on Wednesday, May 27th. Deutsche Bank lifted their price target on Big Lots from $37.00 to $42.00 and gave the stock a “hold” rating in a report on Monday. They noted that the move was a valuation call. UBS Group reduced their price objective on Big Lots from $49.00 to $44.00 in a research note on Monday, April 6th. Goldman Sachs Group started coverage on Big Lots in a research report on Monday, May 18th. They set a “neutral” rating and a $25.00 target price for the company. Finally, Cfra boosted their price target on shares of Big Lots from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, May 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Big Lots currently has a consensus rating of “Hold” and an average target price of $38.00.
Big Lots (NYSE:BIG) last posted its earnings results on Friday, May 29th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.86. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.32 billion. Big Lots had a net margin of 5.05% and a return on equity of 19.99%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.92 EPS.
A number of institutional investors have recently made changes to their positions in BIG. State Street Corp lifted its holdings in Big Lots by 9.9% during the first quarter. State Street Corp now owns 1,575,607 shares of the company’s stock valued at $22,870,000 after purchasing an additional 141,724 shares during the last quarter. Royal Bank of Canada raised its position in shares of Big Lots by 165.1% in the first quarter. Royal Bank of Canada now owns 18,757 shares of the company’s stock valued at $267,000 after purchasing an additional 11,681 shares during the period. State of Tennessee Treasury Department raised its position in shares of Big Lots by 5.3% in the first quarter. State of Tennessee Treasury Department now owns 111,273 shares of the company’s stock valued at $1,582,000 after purchasing an additional 5,557 shares during the period. Maverick Capital Ltd. purchased a new stake in shares of Big Lots during the 1st quarter valued at approximately $6,054,000. Finally, Engine Capital Management LP bought a new position in Big Lots in the 1st quarter worth approximately $118,000. Institutional investors and hedge funds own 92.70% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.78%. The ex-dividend date was Thursday, June 11th. Big Lots’s dividend payout ratio (DPR) is currently 32.70%.
About Big Lots
Big Lots, Inc, through its subsidiaries, operates as a 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 décor, and frames departments; and food category that includes beverage and grocery, candy and snacks, and specialty foods departments.
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