Big Lots, Inc. (NYSE:BIG) to Post FY2022 Earnings of $5.45 Per Share, Piper Sandler Forecasts

Big Lots, Inc. (NYSE:BIG) – Research analysts at Piper Sandler dropped their FY2022 EPS estimates for shares of Big Lots in a report issued on Wednesday, January 12th. Piper Sandler analyst P. Keith now expects that the company will post earnings per share of $5.45 for the year, down from their prior estimate of $5.71. Piper Sandler currently has a “Neutral” rating and a $50.00 target price on the stock. Piper Sandler also issued estimates for Big Lots’ Q4 2022 earnings at $1.88 EPS, Q1 2023 earnings at $0.99 EPS, Q2 2023 earnings at $0.85 EPS, Q4 2023 earnings at $2.88 EPS, FY2023 earnings at $4.88 EPS, Q1 2024 earnings at $1.49 EPS, Q2 2024 earnings at $1.02 EPS and FY2024 earnings at $5.82 EPS.

BIG has been the topic of several other reports. The Goldman Sachs Group cut Big Lots from a “neutral” rating to a “sell” rating and reduced their target price for the company from $58.00 to $43.00 in a research note on Tuesday, December 14th. Telsey Advisory Group reduced their target price on Big Lots from $55.00 to $53.00 and set a “market perform” rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reduced their target price on Big Lots from $48.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday. Zacks Investment Research cut Big Lots from a “hold” rating to a “strong sell” rating and set a $42.00 price target on the stock. in a research note on Wednesday, January 5th. Finally, Loop Capital reduced their price target on Big Lots from $50.00 to $44.00 in a research note on Wednesday. Four investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, Big Lots presently has an average rating of “Hold” and a consensus price target of $46.22.

BIG opened at $43.41 on Thursday. Big Lots has a 52-week low of $40.06 and a 52-week high of $73.23. The stock has a market capitalization of $1.33 billion, a PE ratio of 7.05, a price-to-earnings-growth ratio of 0.63 and a beta of 2.20. The stock’s 50 day moving average price is $45.38 and its 200-day moving average price is $50.11.

Big Lots (NYSE:BIG) last announced its quarterly earnings data on Friday, December 3rd. The company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.02. Big Lots had a return on equity of 19.03% and a net margin of 3.67%. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the company posted $0.76 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BIG. Morgan Stanley grew its stake in shares of 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 acquiring an additional 341,116 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Big Lots by 123.8% in the second quarter. Bank of Montreal Can now owns 312,404 shares of the company’s stock worth $20,468,000 after acquiring an additional 172,824 shares during the last quarter. BlackRock Inc. grew its stake in shares of Big Lots by 2.2% in the third quarter. BlackRock Inc. now owns 5,431,126 shares of the company’s stock worth $235,494,000 after acquiring an additional 119,085 shares during the last quarter. Voloridge Investment Management LLC lifted its holdings in shares of Big Lots by 61.4% during the third quarter. Voloridge Investment Management LLC now owns 279,504 shares of the company’s stock valued at $12,119,000 after purchasing an additional 106,277 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Big Lots during the second quarter valued at $5,951,000. 98.83% of the stock is currently owned by hedge funds and other institutional investors.

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 29th. Stockholders of record on Wednesday, December 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, December 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.76%. Big Lots’s dividend payout ratio is currently 19.48%.

Big Lots declared that its Board of Directors has initiated a share repurchase plan on Friday, December 3rd that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 17.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

About Big Lots

Big Lots, Inc engages in the operation of retail stores. It operates through the Discount Retailing segment which includes merchandising categories such as furniture, seasonal, soft home, food, consumables, hard home, and electronics, toys, and accessories. The company was founded by Sol A. Shenk in 1967 and is headquartered in Columbus, OH.

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

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