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

Burlington Stores (NYSE:BURL) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 7.760-7.960 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wells Fargo & Company boosted their price objective 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. Morgan Stanley upped their price objective on Burlington Stores from $284.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Telsey Advisory Group reiterated an “outperform” rating and issued a $300.00 target price on shares of Burlington Stores in a research note on Thursday, August 29th. StockNews.com downgraded shares of Burlington Stores from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Citigroup raised their price target on shares of Burlington Stores from $276.00 to $313.00 and gave the company a “buy” rating in a report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $300.44.

Burlington Stores Stock Performance

BURL opened at $291.66 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.48 and a debt-to-equity ratio of 1.15. Burlington Stores has a 12-month low of $168.49 and a 12-month high of $298.89. The firm has a 50 day moving average of $261.73 and a two-hundred day moving average of $248.76. The firm has a market capitalization of $18.57 billion, a PE ratio of 43.86, a P/E/G ratio of 1.46 and a beta of 1.64.

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

Insider Activity at Burlington Stores

In other news, Director Paul Sullivan sold 1,705 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was 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 directly owns 7,393 shares in the company, valued at $2,048,230.65. The trade was a 18.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.91% of the stock is owned by company insiders.

About Burlington Stores

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.