Big Lots, Inc. (NYSE:BIG – Get Rating) – Stock analysts at Zacks Research cut their Q4 2024 earnings per share estimates for shares of Big Lots in a research report issued to clients and investors on Friday, June 9th. Zacks Research analyst S. Singh now forecasts that the company will post earnings of $0.83 per share for the quarter, down from their prior estimate of $0.87. The consensus estimate for Big Lots’ current full-year earnings is ($8.66) per share.
Several other equities analysts also recently commented on BIG. The Goldman Sachs Group decreased their target price on Big Lots from $14.00 to $5.00 in a research report on Wednesday, May 31st. Loop Capital lowered their price target on shares of Big Lots from $14.00 to $6.00 in a report on Tuesday, May 30th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Big Lots from $8.00 to $6.00 in a research report on Tuesday, May 30th. Credit Suisse Group lowered their price target on Big Lots from $15.00 to $13.00 and set an “underperform” rating for the company in a research report on Monday, March 6th. Finally, Telsey Advisory Group decreased their price objective on Big Lots from $20.00 to $16.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 28th. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, Big Lots currently has an average rating of “Reduce” and a consensus target price of $8.86.
Big Lots Stock Down 5.8 %
Big Lots (NYSE:BIG – Get Rating) last issued its earnings results on Friday, May 26th. The company reported ($3.40) earnings per share for the quarter, missing the consensus estimate of ($1.84) by ($1.56). Big Lots had a negative return on equity of 34.74% and a negative net margin of 7.78%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company earned ($0.39) earnings per share. The business’s revenue for the quarter was down 18.3% on a year-over-year basis.
Insider Transactions at Big Lots
In other news, EVP Ronald A. Robins, Jr. acquired 10,000 shares of Big Lots stock in a transaction dated Thursday, June 1st. The stock was bought at an average cost of $5.00 per share, with a total value of $50,000.00. Following the completion of the transaction, the executive vice president now directly owns 169,897 shares of the company’s stock, valued at $849,485. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Big Lots news, CEO Bruce K. Thorn bought 51,000 shares of the stock in a transaction dated Wednesday, May 31st. The stock was purchased at an average cost of $4.85 per share, for a total transaction of $247,350.00. Following the completion of the acquisition, the chief executive officer now owns 670,042 shares of the company’s stock, valued at $3,249,703.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ronald A. Robins, Jr. purchased 10,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was bought at an average price of $5.00 per share, for a total transaction of $50,000.00. Following the purchase, the executive vice president now owns 169,897 shares in the company, valued at $849,485. The disclosure for this purchase can be found here. Over the last three months, insiders bought 64,000 shares of company stock worth $312,260. 3.00% of the stock is owned by insiders.
Institutional Trading of Big Lots
Hedge funds and other institutional investors have recently made changes to their positions in the company. Toroso Investments LLC acquired a new position in Big Lots in the 1st quarter worth $114,000. JPMorgan Chase & Co. lifted its position in shares of Big Lots by 56.9% in the first quarter. JPMorgan Chase & Co. now owns 79,523 shares of the company’s stock worth $871,000 after buying an additional 28,826 shares during the last quarter. State Street Corp raised its stake in Big Lots by 15.9% during the 1st quarter. State Street Corp now owns 1,649,798 shares of the company’s stock valued at $18,082,000 after purchasing an additional 226,109 shares during the last quarter. Snowden Capital Advisors LLC grew its stake in shares of Big Lots by 15.0% in the 1st quarter. Snowden Capital Advisors LLC now owns 36,972 shares of the company’s stock valued at $405,000 after purchasing an additional 4,815 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Big Lots by 6.3% in the first quarter. Geode Capital Management LLC now owns 553,675 shares of the company’s stock worth $6,068,000 after acquiring an additional 32,591 shares during the last quarter.
About Big Lots
Big Lots, Inc engages in the operation of retail stores. It operates through the Discount Retailing segment. The Discount Retailing segment 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.
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