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

Burlington Stores (NYSE:BURL) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 7.760-7.960 for the period, compared to the consensus 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 also updated its Q4 guidance to $3.55-3.75 EPS.

Analyst Ratings Changes

BURL has been the subject of several research analyst reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $310.00 price objective on shares of Burlington Stores in a research note on Tuesday. Morgan Stanley upped their price objective on shares of Burlington Stores from $285.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday. Barclays reduced their target price on Burlington Stores from $327.00 to $317.00 and set an “overweight” rating for the company in a research note on Wednesday. TD Cowen upped their price target on Burlington Stores from $288.00 to $334.00 and gave the stock a “buy” rating in a research note on Monday. Finally, The Goldman Sachs Group raised their price objective on Burlington Stores from $278.00 to $310.00 and gave the company a “buy” rating in a research note 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $307.69.

Burlington Stores Trading Up 0.6 %

NYSE BURL opened at $288.60 on Thursday. Burlington Stores has a 12 month low of $168.49 and a 12 month high of $298.89. The company has a current ratio of 1.04, a quick ratio of 0.48 and a debt-to-equity ratio of 1.15. The stock’s fifty day moving average price is $262.06 and its 200-day moving average price is $249.44. The stock has a market cap of $18.37 billion, a P/E ratio of 43.40, a P/E/G ratio of 1.48 and a beta of 1.64.

Burlington Stores (NYSE:BURL) last announced its quarterly earnings data on Tuesday, November 26th. The company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.02. Burlington Stores had a net margin of 4.18% and a return on equity of 47.43%. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same period 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. As a group, equities analysts forecast that Burlington Stores will post 7.94 EPS for the current fiscal year.

Insider Activity at Burlington Stores

In other news, Director Paul Sullivan sold 1,705 shares of the firm’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 in the company, valued at $2,048,230.65. This trade represents a 18.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.91% of the stock is currently owned by company insiders.

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.