Big Lots: S&P Intraday Laggard
NEW YORK (TheStreet) -- Big Lots (BIG) was the worst performer in the S&P 500 on Tuesday morning.
The S&P 500 was rising 6.01 points, or 0.44%, Tuesday to 1,372.95.
 |
Shares of Big Lots fell 20.06% Tuesday to $36.54. The discount retailer updated its first-quarter retail sales guidance on Monday as a result of poorer-than-anticipated sales in the U.S.
Big Lots expects its U.S. comparable store sales to be "slightly negative compared to our prior guidance" on March 2, which was an increase of between 2% and 4%.
"U.S. comparable store sales were on plan through the first six weeks of the quarter; however, sales compared to plan began to slow in late March and trends have further softened as we moved through the month of April," Big Lots said in a statement. Retail sales in Canada are expected to be slightly higher than the previous guidance of between $25 million and $30 million. Big Lots trades at an estimated price-to-earnings ratio for next year of 9.16 times; the average for broad-line retailers is 18.48. For comparison, Wal-Mart (WMT) has a higher forward P/E of 11.09. Nine of the 17 analysts who cover Big Lots rated it buy; eight analysts gave the stock a hold rating. TheStreet Ratings gives Big Lots an A- grade with a buy rating and $58.51 price target. The stock has fallen 3.63% year to date. -- Written by Alexandra Zendrian>To contact the writer of this article, click here: Alexandra Zendrian >To submit a news tip, send an email to: tips@thestreet.com. >To follow the writer on Twitter, go to Alexandra Zendrian.
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
