Burlington Stores (NYSE:BURL) Posts Earnings Results, Beats Expectations By $0.02 EPS

Burlington Stores (NYSE:BURL) released its quarterly earnings data on Tuesday. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.02, RTT News reports. Burlington Stores had a return on equity of 47.43% and a net margin of 4.18%. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period last year, the business posted $0.98 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. Burlington Stores updated its FY 2024 guidance to 7.760-7.960 EPS and its Q4 guidance to $3.55-3.75 EPS.

Burlington Stores Stock Performance

BURL stock opened at $291.66 on Tuesday. The stock’s 50 day simple moving average is $261.73 and its 200 day simple moving average is $248.76. Burlington Stores has a 12-month low of $168.49 and a 12-month high of $298.89. The firm has a market cap of $18.57 billion, a P/E ratio of 43.86, a P/E/G ratio of 1.46 and a beta of 1.64. The company has a current ratio of 1.04, a quick ratio of 0.48 and a debt-to-equity ratio of 1.15.

Insiders Place Their Bets

In other news, Director Paul Sullivan sold 1,705 shares of the company’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 transaction of $472,370.25. Following the completion of the transaction, the director now directly owns 7,393 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.91% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BURL. TD Cowen upped their target price on Burlington Stores from $288.00 to $334.00 and gave the stock a “buy” rating in a research report on Monday. UBS Group increased their price objective on shares of Burlington Stores from $270.00 to $280.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Gordon Haskett raised shares of Burlington Stores from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research report on Monday, August 19th. The Goldman Sachs Group upped their target price on shares of Burlington Stores from $278.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Citigroup lifted their price target on shares of Burlington Stores from $276.00 to $313.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $300.44.

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.