Burlington Stores (NYSE:BURL) Issues FY 2024 Earnings Guidance

Burlington Stores (NYSE:BURL) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 7.760-7.960 for the period, compared to the consensus EPS estimate of 7.920. The company issued revenue guidance of $10.6 billion-$10.7 billion, compared to the consensus revenue estimate of $10.7 billion.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BURL. Wells Fargo & Company lifted their price target on shares of Burlington Stores from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Loop Capital lifted their price target on shares of Burlington Stores from $270.00 to $345.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Morgan Stanley lifted their price target on shares of Burlington Stores from $284.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. TD Cowen lifted their price target on shares of Burlington Stores from $288.00 to $334.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Bank of America lifted their price target on shares of Burlington Stores from $275.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $300.44.

Burlington Stores Stock Performance

Shares of BURL opened at $291.66 on Tuesday. Burlington Stores has a 1 year low of $168.49 and a 1 year high of $298.89. The company has a market cap of $18.57 billion, a price-to-earnings ratio of 43.86, a price-to-earnings-growth ratio of 1.46 and a beta of 1.64. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.48 and a current ratio of 1.04. The firm has a fifty day moving average of $261.73 and a 200-day moving average of $248.76.

Burlington Stores (NYSE:BURL) last announced its quarterly earnings results on Thursday, August 29th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.25. Burlington Stores had a net margin of 4.18% and a return on equity of 47.43%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, equities analysts anticipate that Burlington Stores will post 7.94 earnings per share for the current year.

Insider Activity

In related news, Director Paul Sullivan sold 1,705 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $277.05, for a total value of $472,370.25. Following the completion of the sale, the director now owns 7,393 shares of the company’s stock, valued at $2,048,230.65. This represents a 18.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.91% of the company’s stock.

Burlington Stores Company Profile

Burlington Stores, Inc operates as a retailer of branded merchandise in the United States. The company provides fashion-focused merchandise, including women's ready-to-wear apparel, menswear, youth apparel, footwear, accessories, toys, gifts, and coats, as well as baby, home, and beauty products.