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

Burlington Stores (NYSE:BURL) announced its earnings results on Tuesday. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the business earned $0.98 EPS. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. 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 Up 1.9 %

BURL stock opened at $291.66 on Tuesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.04 and a quick ratio of 0.48. The firm has a market capitalization 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. Burlington Stores has a 52-week low of $168.49 and a 52-week high of $298.89. The company’s 50 day simple moving average is $261.73 and its 200-day simple moving average is $248.76.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BURL. Morgan Stanley upped their price objective on shares of Burlington Stores from $284.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. StockNews.com lowered shares of Burlington Stores from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. TD Cowen increased their price objective on shares of Burlington Stores from $288.00 to $334.00 and gave the company a “buy” rating in a report on Monday. Wells Fargo & Company boosted their target price on Burlington Stores from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, Gordon Haskett upgraded Burlington Stores from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $300.44.

Insider Buying and Selling

In other Burlington Stores news, Director Paul Sullivan sold 1,705 shares of the business’s stock in a transaction 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.91% of the company’s stock.

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.