Barclays Lowers PT and Estimates on Big Lots (BIG); Antacids for the Volatility
Tweet
Share
E-mailGet Alerts BIG Hot Sheet
Price: $0.50 --0%
Rating Summary:
9 Buy, 15 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 15 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Barclays maintains an 'Overweight' on Big Lots (NYSE: BIG) price target of $40.00 (from $43.00).
Analyst, Meredith Adler, said, "It can be hard to appreciate just how challenging BIG's business model really is, but the latest quarter showed the difficulties of constantly coming up with new, different, and trend-relevant products that can be sold at a recognizable value."
Diving deeper into the numbers, Adler said Big Lots had used free cash flow (plus some borrowed money) to buyback almost 10% of its stock in the first half of 2012. She said the company still has $400 million of its revolving credit line available, but will probably look to gear back up to fund holiday inventory ($200 million in cost).
Barclays cuts Q3 EPS estimate from $0.17 to (0.24) (consensus is $0.13), FY13 from $3.37 to $2.81 (consensus is $3.28) and FY13 from $3.81 to $3.60 (consensus is $3.62).
For an analyst ratings summary and ratings history on Big Lots click here. For more ratings news on Big Lots click here.
Shares of Big Lots closed at $30.76 yesterday.
Analyst, Meredith Adler, said, "It can be hard to appreciate just how challenging BIG's business model really is, but the latest quarter showed the difficulties of constantly coming up with new, different, and trend-relevant products that can be sold at a recognizable value."
Diving deeper into the numbers, Adler said Big Lots had used free cash flow (plus some borrowed money) to buyback almost 10% of its stock in the first half of 2012. She said the company still has $400 million of its revolving credit line available, but will probably look to gear back up to fund holiday inventory ($200 million in cost).
Barclays cuts Q3 EPS estimate from $0.17 to (0.24) (consensus is $0.13), FY13 from $3.37 to $2.81 (consensus is $3.28) and FY13 from $3.81 to $3.60 (consensus is $3.62).
For an analyst ratings summary and ratings history on Big Lots click here. For more ratings news on Big Lots click here.
Shares of Big Lots closed at $30.76 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Fiserv (FISV) PT Lowered to $60 at Freedom Broker
- Honasa Consumer Ltd (HONASA:IN) PT Raised to INR720 at ICICI Securities
- Intuitive Machines Inc. (LUNR) PT Lowered to $32 at Cantor Fitzgerald, Reaffirms Overweight Rating
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
BarclaysSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
