Is Big Lots Inc (NYSE: BIG) Stock Set To Rise More?

In the last trading session, 1.19 million Big Lots Inc (NYSE:BIG) shares changed hands as the company’s beta touched 2.27. With the company’s per share price at $4.16 changed hands at $0.1 or 2.46% during last session, the market valuation stood at $121.43M. BIG’s last price was a discount, traded about -381.73% off its 52-week high of $20.04. The share price had its 52-week low at $3.47, which suggests the last value was 16.59% up since then. When we look at Big Lots Inc’s average trading volume, we note the 10-day average is 1.4 million shares, with the 3-month average coming to 1.72 million.

Analysts gave the Big Lots Inc (BIG) stock a consensus recommendation rating of an Underweight, calculated at a mean rating of 3.56. If we narrow down to specifics, the data shows that 3 out of 9 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 4 recommended BIG as a Hold, 1 felt it is a Buy and 1 rated the stock as Underweight. Big Lots Inc’s EPS for the current quarter is expected to be -$4.68.

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Big Lots Inc (NYSE:BIG) trade information

Instantly BIG was in green as seen at the end of in last trading. With action 11.53%, the performance over the past five days has been green. The jump to weekly highs of 4.57 on Friday, 11/17/23 added 2.46% to the stock’s daily price. The company’s shares are showing year-to-date downside of -71.70%, with the 5-day performance at 11.53% in the green. However, in the 30-day time frame, Big Lots Inc (NYSE:BIG) is -11.49% down. Looking at the short shares, we see there were 8.28 million shares sold at short interest cover period of 5.82 days.

The consensus price target for the stock as assigned by Wall Street analysts is $6.47, meaning bulls need an upside of 35.7% from its current market value. According to analyst projections, BIG’s forecast low is $4.00 with $8.50 as the target high. To hit the forecast high, the stock’s price needs a -104.33% plunge from its current level, while the stock would need to tank 3.85% for it to hit the projected low.

Big Lots Inc (BIG) estimates and forecasts

Data shows that the Big Lots Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -47.21% over the past 6 months, a -89.43% in annual growth rate that is considerably lower than the industry average of 11.40%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Big Lots Inc will fall -56.50%, while the growth in revenue is estimated to hit 164.30% for the next quarter. Year-over-year growth is forecast to reach -13.50% down from the last financial year.

Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of $1.03 billion. 9 analysts are of the opinion that Big Lots Inc’s revenue for the quarter ending Jan 2024 will be $1.44 billion. The estimates for the next quarter sales put growth at -6.80%.

The 2023 estimates are for Big Lots Inc earnings to decrease by -89.52%.

BIG Dividends

Big Lots Inc is expected to release its next quarterly earnings report on November 30. The 7.21% annual yield figure for the share gives it an annual dividend of 0.30. It is important to note, however, that the 7.21% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

Big Lots Inc (NYSE:BIG)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 3.47% of Big Lots Inc shares while 100.96% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 104.59%. There are 100.96% institutions holding the Big Lots Inc stock share, with FMR, LLC the top institutional holder. As of Jun 29, 2023, the company held 10.77% of the shares, roughly 3.14 million BIG shares worth $27.76 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 7.75% or 2.26 million shares worth $19.98 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jul 30, 2023 were Fidelity Low-Priced Stock Fund and Vanguard Total Stock Market Index Fund. With 1.23 million shares estimated at $12.59 million under it, the former controlled 4.21% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.84% of the shares, roughly 0.83 million shares worth around $7.33 million.

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