Q1 2023 EPS Estimates for Big Lots, Inc. Decreased by Telsey Advisory Group (NYSE:BIG)

Big Lots, Inc. (NYSE:BIGGet Rating) – Telsey Advisory Group reduced their Q1 2023 earnings per share (EPS) estimates for Big Lots in a research note issued on Tuesday, May 24th. Telsey Advisory Group analyst J. Feldman now expects that the company will earn $1.05 per share for the quarter, down from their previous estimate of $1.20. Telsey Advisory Group currently has a “Market Perform” rating and a $32.00 target price on the stock. Telsey Advisory Group also issued estimates for Big Lots’ Q4 2023 earnings at $2.48 EPS, FY2024 earnings at $5.36 EPS and FY2024 earnings at $5.36 EPS.

Several other analysts have also commented on the stock. The Goldman Sachs Group lowered their price objective on shares of Big Lots from $40.00 to $36.00 and set a “sell” rating on the stock in a research report on Monday, March 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on Big Lots from $44.00 to $31.00 in a research note on Wednesday. Zacks Investment Research raised Big Lots from a “sell” rating to a “hold” rating and set a $37.00 target price for the company in a research report on Tuesday, April 12th. Loop Capital dropped their price target on Big Lots from $44.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, March 4th. Finally, Piper Sandler decreased their price objective on Big Lots from $34.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, May 20th. Four research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $32.56.

Big Lots stock opened at $26.23 on Wednesday. Big Lots has a fifty-two week low of $24.87 and a fifty-two week high of $73.23. The firm’s 50-day simple moving average is $34.49 and its 200 day simple moving average is $39.38. The stock has a market cap of $749.08 million, a PE ratio of 5.04, a price-to-earnings-growth ratio of 0.52 and a beta of 2.12.

Big Lots (NYSE:BIGGet Rating) last posted 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 firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Big Lots had a return on equity of 16.21% and a net margin of 2.89%. Big Lots’s revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.59 earnings per share.

Several hedge funds and other institutional investors have recently bought and sold shares of BIG. Border to Coast Pensions Partnership Ltd purchased a new position in shares of Big Lots during the fourth quarter worth approximately $30,615,139,000. Morgan Stanley lifted its stake in Big Lots by 137.7% in the second quarter. Morgan Stanley now owns 588,818 shares of the company’s stock worth $38,867,000 after purchasing an additional 341,116 shares during the last quarter. Norges Bank bought a new stake in Big Lots in the fourth quarter worth $13,752,000. Squarepoint Ops LLC purchased a new stake in Big Lots during the fourth quarter valued at about $11,993,000. Finally, Pacer Advisors Inc. bought a new position in shares of Big Lots during the fourth quarter valued at about $8,471,000. 94.42% of the stock is owned by institutional investors.

In other Big Lots news, EVP Nicholas E. Padovano sold 3,500 shares of the firm’s stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $34.82, for a total value of $121,870.00. Following the sale, the executive vice president now owns 25,841 shares of the company’s stock, valued at approximately $899,783.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas E. Padovano sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, March 22nd. The stock was sold at an average price of $38.39, for a total transaction of $34,551.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,000 shares of company stock worth $349,918. Insiders own 2.70% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Friday, March 18th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend was Thursday, March 17th. Big Lots’s dividend payout ratio is presently 23.08%.

About Big Lots (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.

See Also

Earnings History and Estimates for Big Lots (NYSE:BIG)

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