Thursday, September 13, 2018 6:05:32 PM
Despite a small Earnings miss vs. consensus:
CFRA KEEPS BUY OPINION ON BIG LOTS, INC. SHARES
10:44 am ET August 31, 2018
We are adjusting our target by $1 to $49, applying a peer average P/E multiple of 10.9X, which is below BIG's three-year historic average of 13.0X. Shares are down significantly today on a Jul-Q 11.9% earning miss of $0.59 compared to $0.67 consensus estimate. Almost all of the earnings shortfall came from rising transportation costs that rose $6M in Jul-Q, nearly double the pace in Apr-Q. With rising operating costs, we are lowering our EPS estimates in FY 19 (Jan.) by $0.05 to $4.50 and FY 20's by $0.10 to $4.85 a share. We see FY 19 same-store sales up 2%, in line with Jul-Q's results. BIG increased its inventory to position it for autumn sales for harvest and Halloween, while its furnishing department has added a new assortment of fireplaces. Both furniture and soft home (flooring, home decor, bath and window) sales were up 5%. During Jul-Q, BIG opened 4 stores and closed 4, leaving it with 1,415 stores. It bought back $100M, or 2.4M shares.
Recent BIG News
- Big Lots Partners with Make-A-Wish America for First-Ever Joint Point-of-Sale Campaign to Support Children with Critical Illnesses • PR Newswire (US) • 07/02/2024 01:00:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 06/13/2024 08:14:13 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/11/2024 09:12:20 PM
- US Index Futures Mixed; Oil Prices Rise • IH Market News • 06/06/2024 11:29:43 AM
- Big Lots Reports Q1 Results • PR Newswire (US) • 06/06/2024 11:00:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/03/2024 09:20:20 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/31/2024 08:19:49 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/31/2024 08:14:43 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/31/2024 08:13:24 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/31/2024 08:12:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/31/2024 08:11:17 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/31/2024 08:10:10 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/31/2024 08:08:59 PM
- Big Lots to Report First Quarter Results on June 6, 2024 • PR Newswire (US) • 05/17/2024 08:30:00 PM
- Big Lots Boosts Liquidity, Adds Borrowing Capacity with New Term Loan Facility • PR Newswire (US) • 04/18/2024 09:37:00 PM
- Big Lots Bolsters Global Product Sourcing with Launch of Asia-based Buying Offices • PR Newswire (US) • 04/01/2024 03:00:00 PM
- Big Lots supports the American Heart Association's Life is Why campaign as they champion women's heart health • PR Newswire (US) • 03/14/2024 04:30:00 PM
- Big Lots Reports Q4 and Full Year 2023 Results • PR Newswire (US) • 03/07/2024 12:00:00 PM
- U.S. Index Futures See Modest Gains, Oil Prices Slip • IH Market News • 03/07/2024 11:01:20 AM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 09:06:44 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/05/2024 12:35:02 PM
- Big Lots Appoints Maureen B. Short to its Board of Directors • PR Newswire (US) • 03/05/2024 12:00:00 PM
- Big Lots Acquires Hearthsong Toy Inventory Reinforcing its Commitment to Extreme Values in Latest Closeout Deal • PR Newswire (US) • 02/22/2024 06:00:00 PM
- Hotter-Than-Expected Inflation Data Likely To Weigh On Wall Street • IH Market News • 02/13/2024 02:05:10 PM
- Dow Reaches New Record Closing High But Nasdaq, S&P 500 Give Back Ground • IH Market News • 02/12/2024 10:03:51 PM
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BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM