Big Lots (NYSE:BIG) Announces Quarterly Earnings Results

Big Lots (NYSE:BIG) announced its earnings results on Thursday. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.05), Briefing.com reports. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Big Lots had a negative return on equity of 90.53% and a negative net margin of 10.20%. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period last year, the business earned ($0.28) EPS.

Big Lots Trading Down 15.6 %

NYSE BIG opened at $4.42 on Friday. The firm has a 50 day simple moving average of $5.72 and a 200-day simple moving average of $5.47. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.31 and a quick ratio of 0.15. Big Lots has a one year low of $3.47 and a one year high of $14.98.

Analyst Ratings Changes

Several research analysts have weighed in on BIG shares. Telsey Advisory Group lowered their target price on shares of Big Lots from $7.00 to $5.00 and set a “market perform” rating for the company in a research note on Tuesday, February 13th. Loop Capital lowered shares of Big Lots from a “hold” rating to a “sell” rating in a research note on Monday, February 12th. Piper Sandler lowered their price objective on shares of Big Lots from $6.00 to $3.50 and set an “underweight” rating for the company in a research note on Friday, December 1st. Finally, StockNews.com raised shares of Big Lots from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Four research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat, Big Lots has a consensus rating of “Reduce” and a consensus target price of $5.25.

Institutional Trading of Big Lots

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in Big Lots by 1.3% in the third quarter. BlackRock Inc. now owns 4,925,796 shares of the company’s stock valued at $76,891,000 after acquiring an additional 64,279 shares in the last quarter. Vanguard Group Inc. raised its holdings in Big Lots by 1.2% in the third quarter. Vanguard Group Inc. now owns 3,247,315 shares of the company’s stock valued at $50,691,000 after acquiring an additional 37,361 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Big Lots by 7.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,923,315 shares of the company’s stock valued at $66,552,000 after acquiring an additional 126,412 shares in the last quarter. State Street Corp raised its holdings in Big Lots by 15.9% in the first quarter. State Street Corp now owns 1,649,798 shares of the company’s stock valued at $18,082,000 after acquiring an additional 226,109 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Big Lots by 3.3% in the fourth quarter. Morgan Stanley now owns 725,635 shares of the company’s stock valued at $10,667,000 after acquiring an additional 23,013 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Big Lots Company Profile

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 home décor, frames, fashion and utility bedding, bath, window, decorative textile, and area rugs departments; and food category that includes beverage and grocery, specialty foods, and pet departments.