Big Lots (NYSE:BIG) Trading Down 3%

Big Lots, Inc. (NYSE:BIG) shares traded down 3% during mid-day trading on Monday . The company traded as low as $22.24 and last traded at $21.66, 33,133 shares were traded during trading. A decline of 98% from the average session volume of 1,467,344 shares. The stock had previously closed at $22.34.

A number of equities analysts have recently issued reports on the stock. KeyCorp lowered their target price on shares of Big Lots from $44.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, June 3rd. ValuEngine lowered shares of Big Lots from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 15th. Telsey Advisory Group reiterated a “market perform” rating and issued a $32.00 price objective (down from $40.00) on shares of Big Lots in a research report on Monday, June 3rd. Piper Jaffray Companies lowered shares of Big Lots from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $44.00 to $31.00 in a research report on Friday, May 24th. Finally, Bank of America set a $23.00 price objective on shares of Big Lots and gave the company a “sell” rating in a research report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $33.64.

The company has a current ratio of 1.25, a quick ratio of 0.17 and a debt-to-equity ratio of 2.21. The stock’s fifty day simple moving average is $25.75. The firm has a market capitalization of $871.48 million, a P/E ratio of 5.43, a price-to-earnings-growth ratio of 0.80 and a beta of 1.38.

Big Lots (NYSE:BIG) last released its earnings results on Friday, May 31st. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.22. Big Lots had a return on equity of 25.61% and a net margin of 2.68%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the company earned $0.95 earnings per share. Big Lots’s quarterly revenue was up 2.2% compared to the same quarter last year. Research analysts forecast that Big Lots, Inc. will post 3.77 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new stake in Big Lots in the second quarter valued at $6,191,000. Bank of New York Mellon Corp lifted its holdings in Big Lots by 8.2% in the second quarter. Bank of New York Mellon Corp now owns 896,819 shares of the company’s stock valued at $25,658,000 after acquiring an additional 67,682 shares during the period. Capital Fund Management S.A. lifted its holdings in Big Lots by 156.1% in the second quarter. Capital Fund Management S.A. now owns 180,472 shares of the company’s stock valued at $5,163,000 after acquiring an additional 110,015 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Big Lots by 4.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 335,081 shares of the company’s stock valued at $9,587,000 after acquiring an additional 13,078 shares during the period. Finally, Jennison Associates LLC acquired a new stake in Big Lots in the second quarter valued at $570,000.

About Big Lots (NYSE:BIG)

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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