Big Lots, Netflix: S&P Laggards
NEW YORK (TheStreet) - Big Lots (BIG) and Netflix (NFLX) were among the worst-performing stocks in the S&P 500 on Tuesday.
The S&P 500 rose 5.03 points, or 0.37%, Tuesday to close at 1372.
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Shares of Big Lots fell 24.06% Tuesday to $34.71. The discount retailer updated its first-quarter retail sales guidance late Monday, citing weaker-than-anticipated U.S. sales.
Big Lots expects its U.S. comparable store sales to be "slightly negative compared to our prior guidance" on March 2, which was for an increase of between 2% and 4%.
Big Lots' shares currently trade at an estimated price-to-earnings ratio for next year of 8.87X; the average for broad-line retailers is 18.44X. For comparison, Wal-Mart (WMT) has a higher forward P/E of 10.9X. Ten of the 17 analysts who cover Big Lots rate it at buy; seven analysts give 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 8.08% year to date.Select the service that is right for you!
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