Big Lots, Inc. (NYSE:BIG – Get Rating) – Equities research analysts at Telsey Advisory Group reduced their Q2 2023 earnings per share estimates for shares of Big Lots in a research report issued on Tuesday, May 24th. Telsey Advisory Group analyst J. Feldman now anticipates that the company will post earnings per share of $1.19 for the quarter, down from their prior estimate of $1.45. Telsey Advisory Group has a “Market Perform” rating and a $32.00 price objective on the stock. Telsey Advisory Group also issued estimates for Big Lots’ Q3 2023 earnings at $0.03 EPS and FY2023 earnings at $4.75 EPS.

Big Lots (NYSE:BIG – Get Rating) last issued its quarterly earnings data on Thursday, March 3rd. The company reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.14). The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.72 billion. Big Lots had a net margin of 2.89% and a return on equity of 16.21%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.59 earnings per share.

Other research analysts have also recently issued reports about the stock. StockNews.com began coverage on shares of Big Lots in a report on Thursday, March 31st. They set a “hold” rating on the stock. Piper Sandler cut their price target on shares of Big Lots from $34.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, May 20th. Zacks Investment Research upgraded shares of Big Lots from a “sell” rating to a “hold” rating and set a $37.00 price target on the stock in a report on Tuesday, April 12th. The Goldman Sachs Group cut their price target on shares of Big Lots from $40.00 to $36.00 and set a “sell” rating on the stock in a report on Monday, March 7th. Finally, Loop Capital cut their price target on shares of Big Lots from $44.00 to $38.00 and set a “hold” rating on the stock in a report on Friday, March 4th. Four research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $32.56.

Shares of NYSE BIG opened at $29.93 on Thursday. The stock has a market capitalization of $854.74 million, a P/E ratio of 5.76, a P/E/G ratio of 0.52 and a beta of 2.12. The company has a 50-day moving average price of $34.33 and a 200-day moving average price of $39.32. Big Lots has a 1 year low of $24.87 and a 1 year high of $73.23.

The company also recently announced a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Friday, March 18th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend was Thursday, March 17th. Big Lots’s dividend payout ratio (DPR) is presently 23.08%.

In other Big Lots news, EVP Nicholas E. Padovano sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, March 22nd. The shares were sold at an average price of $38.39, for a total value of $34,551.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nicholas E. Padovano sold 4,300 shares of the business’s stock in a transaction that occurred on Wednesday, April 6th. The stock was sold at an average price of $34.30, for a total transaction of $147,490.00. Following the completion of the transaction, the executive vice president now directly owns 25,979 shares of the company’s stock, valued at approximately $891,079.70. The disclosure for this sale can be found here. Insiders have sold a total of 10,000 shares of company stock worth $349,918 in the last ninety days. 2.70% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in BIG. Morgan Stanley grew its stake in Big Lots by 137.7% in the 2nd quarter. Morgan Stanley now owns 588,818 shares of the company’s stock worth $38,867,000 after buying an additional 341,116 shares in the last quarter. BlackRock Inc. grew its stake in Big Lots by 2.2% in the 3rd quarter. BlackRock Inc. now owns 5,431,126 shares of the company’s stock worth $235,494,000 after buying an additional 119,085 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Big Lots by 10.9% in the 3rd quarter. Teacher Retirement System of Texas now owns 5,674 shares of the company’s stock worth $246,000 after buying an additional 556 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Big Lots by 206.5% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 2,811 shares of the company’s stock valued at $122,000 after purchasing an additional 1,894 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Big Lots by 7.1% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,264 shares of the company’s stock valued at $1,139,000 after purchasing an additional 1,751 shares in the last quarter. 94.42% of the stock is owned by institutional investors and hedge funds.

Big Lots Company Profile (Get Rating)

Big Lots, Inc, through its subsidiaries, operates as a home discount retailer in the United States. The company offers products under various merchandising categories, such as furniture category that includes upholstery, mattresses, case goods, and ready-to-assemble departments; seasonal category, which comprises patio furniture, gazebos, Christmas trim, 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, specialty foods, and pet departments.

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