Burlington Stores (NYSE:BURL) Issues Earnings Results

Burlington Stores (NYSE:BURL) announced its quarterly earnings results on Tuesday. The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.02, RTT News reports. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Burlington Stores had a net margin of 4.18% and a return on equity of 47.43%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 earnings per share. 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

NYSE BURL opened at $286.94 on Wednesday. The firm has a 50-day moving average price of $261.73 and a two-hundred day moving average price of $248.76. The company has a market capitalization of $18.27 billion, a P/E ratio of 43.15, a P/E/G ratio of 1.46 and a beta of 1.64. The company has a quick ratio of 0.48, a current ratio of 1.04 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.

Insider Activity

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 shares were sold at an average price of $277.05, for a total value of $472,370.25. Following the completion of the transaction, the director now directly owns 7,393 shares in the company, valued at approximately $2,048,230.65. The trade was a 18.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.91% of the company’s stock.

Analyst Ratings Changes

BURL has been the subject of several research analyst reports. Bank of America lifted their target price on shares of Burlington Stores from $275.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Citigroup lifted their target price on shares of Burlington Stores from $276.00 to $313.00 and gave the stock a “buy” rating in a report on Friday, August 30th. TD Cowen lifted their target price on shares of Burlington Stores from $288.00 to $334.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company lifted their target price on shares of Burlington Stores from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, Evercore ISI lifted their target price on shares of Burlington Stores from $300.00 to $315.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Burlington Stores currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.06.

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.