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

Burlington Stores (NYSE:BURL) issued an update on its FY 2024 earnings guidance on Tuesday morning. 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.

Burlington Stores Stock Up 1.9 %

Shares of NYSE:BURL opened at $291.66 on Tuesday. The stock 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 firm has a fifty day moving average price of $261.73 and a 200 day moving average price of $248.76. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.04 and a quick ratio of 0.48. Burlington Stores has a 1-year low of $168.49 and a 1-year high of $298.89.

Burlington Stores (NYSE:BURL) last released its earnings results on Thursday, August 29th. The company reported $1.20 EPS for the quarter, topping 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 analysts’ expectations of $2.42 billion. During the same quarter last year, the business earned $0.60 EPS. The business’s revenue was up 13.4% on a year-over-year basis. Sell-side analysts predict that Burlington Stores will post 7.94 EPS for the current year.

Wall Street Analyst Weigh In

BURL has been the subject of a number of research analyst reports. Citigroup increased 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. Telsey Advisory Group reiterated an “outperform” rating and issued a $300.00 price target on shares of Burlington Stores in a report on Thursday, August 29th. Gordon Haskett upgraded shares of Burlington Stores from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Monday, August 19th. The Goldman Sachs Group increased their price target on shares of Burlington Stores from $278.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Bank of America increased their price target on shares of Burlington Stores from $275.00 to $315.00 and gave the company a “buy” rating in a report on Friday, August 30th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Burlington Stores presently has an average rating of “Moderate Buy” and a consensus target price of $300.44.

Insider Buying and Selling

In other Burlington Stores news, Director Paul Sullivan sold 1,705 shares of Burlington Stores stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $277.05, for a total transaction of $472,370.25. Following the transaction, the director now directly owns 7,393 shares of the company’s stock, valued at $2,048,230.65. The trade was a 18.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.