Market Overview

UPDATE: Canaccord Genuity Reiterates on Big Lots Based on DCF Model

Share:
Related BIG
The Street Is Missing The Big Picture On Big Lots, Analyst Upgrades
Benzinga's Top Upgrades, Downgrades For July 25, 2017
Leading Retail IPO Stock Tests Buy Zone Ahead Of Earnings (Investor's Business Daily)

In a report published Friday, Canaccord Genuity analyst Laura Champine reiterated a Hold rating on Big Lots (NYSE: BIG), but lowered the price target from $37.00 to $34.00.

In the report, Canaccord Genuity noted, “BIG's Q3 loss of $0.07/share in the U.S. business was $0.06 worse than we had forecast. We are no longer including the Canadian operations in our model as the company is shuttering operations (see below). SSS declined 2.5% on top of -4.6%, falling short of our flat expectation. We are reducing our Q4 EPS estimate by $0.62 to $1.50 on an apples-to-apples basis, which indicates a 28% yr./yr. decline. This excludes Canada where BIG guided for an implied Q4 operating loss of $0.10-$0.14 versus $0.00 in Q4/12. We are lowering our price target from $37 to $34 based on our DCF model.”

Big Lots closed on Thursday at $33.90.

Latest Ratings for BIG

DateFirmActionFromTo
Jul 2017Deutsche BankUpgradesHoldBuy
Apr 2017Raymond JamesUpgradesMarket PerformStrong Buy
Mar 2017Loop CapitalReiteratesBuy

View More Analyst Ratings for BIG
View the Latest Analyst Ratings

Posted-In: Canaccord Genuity Laura ChampineAnalyst Color Price Target Analyst Ratings

 

Related Articles (BIG)

View Comments and Join the Discussion!