Benchmark Maintains a 'Buy' on Big Lots (BIG); Cutting Estimates and Price Target
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Price: $3.64 -0.55%
Rating Summary:
9 Buy, 14 Hold, 7 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
9 Buy, 14 Hold, 7 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Benchmark maintains a 'Buy' on Big Lots (NYSE: BIG) price target lowered from $56 to $50.
Analyst, Ronald Bookbinder, said, "Big Lots lowered Q1 comp expectations to slightly negative, from its previous guidance of up 2%-4%. We lowered our Q1 EPS estimate to $0.69, from $0.81, on the weaker than expected comp in the US, while Canada was slightly above plan. We lowered our 2012 EPS estimate to $3.30, from $3.50, on the sales shortfall and likely deleveraging of the SG&A. We believe the gross margin should hold up as the merchandise mix shifts on the poor performance on the low-margin consumable category and strength in the high-margin seasonal category...We maintained our rating given our belief that this management team has the talent and experience to fix this merchandise problem."
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 $45.71 yesterday.
Analyst, Ronald Bookbinder, said, "Big Lots lowered Q1 comp expectations to slightly negative, from its previous guidance of up 2%-4%. We lowered our Q1 EPS estimate to $0.69, from $0.81, on the weaker than expected comp in the US, while Canada was slightly above plan. We lowered our 2012 EPS estimate to $3.30, from $3.50, on the sales shortfall and likely deleveraging of the SG&A. We believe the gross margin should hold up as the merchandise mix shifts on the poor performance on the low-margin consumable category and strength in the high-margin seasonal category...We maintained our rating given our belief that this management team has the talent and experience to fix this merchandise problem."
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 $45.71 yesterday.
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