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

Burlington Stores (NYSE:BURL) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 7.760-7.960 for the period, compared to the consensus earnings per share 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 PE 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. Burlington Stores has a 12-month low of $168.49 and a 12-month high of $298.89. The company has a 50-day moving average of $261.73 and a 200 day moving average of $248.76.

Burlington Stores (NYSE:BURL) last posted its quarterly earnings results on Thursday, August 29th. The company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.25. Burlington Stores had a return on equity of 47.43% and a net margin of 4.18%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same period in the prior year, the business earned $0.60 earnings per share. The business’s revenue was up 13.4% compared to the same quarter last year. As a group, sell-side analysts predict that Burlington Stores will post 7.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BURL shares. Barclays lifted their price target on Burlington Stores from $274.00 to $327.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Citigroup boosted their target price 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. StockNews.com cut shares of Burlington Stores from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. UBS Group lifted their price target 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. Finally, Loop Capital increased their price objective on Burlington Stores from $270.00 to $345.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $300.44.

Insiders Place Their Bets

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 value of $472,370.25. Following the completion of the transaction, the director now owns 7,393 shares in the company, valued at $2,048,230.65. The trade was a 18.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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.