Burlington Stores (NYSE:BURL) Updates Q3 Earnings Guidance

Burlington Stores (NYSE:BURL) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of +1.45-1.55 for the period, compared to the consensus EPS estimate of $1.36. The company issued revenue guidance of +10-12% yr/yr to ~$2.51-2.56 billion, compared to the consensus revenue estimate of $2.53 billion. Burlington Stores also updated its FY 2024 guidance to 7.660-7.960 EPS.

Burlington Stores Price Performance

Shares of NYSE BURL opened at $268.24 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.52 and a current ratio of 1.07. The firm has a fifty day moving average of $252.19 and a 200 day moving average of $222.45. The firm has a market cap of $17.12 billion, a PE ratio of 44.93, a PEG ratio of 1.36 and a beta of 1.61. Burlington Stores has a one year low of $115.66 and a one year high of $282.49.

Burlington Stores (NYSE:BURL) last released its earnings results on Thursday, May 30th. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.38. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Burlington Stores had a net margin of 3.87% and a return on equity of 46.39%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.84 earnings per share. As a group, research analysts predict that Burlington Stores will post 7.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Evercore ISI increased their target price on Burlington Stores from $300.00 to $315.00 and gave the company an outperform rating in a report on Friday. Gordon Haskett upgraded Burlington Stores from a hold rating to a buy rating and set a $300.00 price objective on the stock in a report on Monday, August 19th. Robert W. Baird upped their target price on shares of Burlington Stores from $260.00 to $275.00 and gave the stock an outperform rating in a report on Friday, May 31st. Citigroup boosted their price target on shares of Burlington Stores from $276.00 to $313.00 and gave the stock a buy rating in a research report on Friday. Finally, StockNews.com downgraded shares of Burlington Stores from a buy rating to a hold rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Burlington Stores currently has a consensus rating of Moderate Buy and an average target price of $294.94.

Insiders Place Their Bets

In related news, CMO Jennifer Vecchio sold 494 shares of Burlington Stores stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $255.37, for a total value of $126,152.78. Following the completion of the sale, the chief marketing officer now owns 61,907 shares in the company, valued at approximately $15,809,190.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.91% of the stock is currently owned by 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.