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 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 also updated its Q4 guidance to $3.55-3.75 EPS.

Burlington Stores Stock Down 1.6 %

Shares of NYSE:BURL opened at $286.94 on Wednesday. The firm’s 50-day moving average is $261.73 and its two-hundred day moving average is $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. The firm has a market capitalization of $18.27 billion, a PE ratio of 43.15, a price-to-earnings-growth ratio of 1.48 and a beta of 1.64.

Burlington Stores (NYSE:BURL) last released its earnings results on Tuesday, November 26th. The company reported $1.55 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the business earned $0.98 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. Analysts predict that Burlington Stores will post 7.94 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Loop Capital boosted 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. Barclays lifted their price objective on shares of Burlington Stores from $274.00 to $327.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Morgan Stanley raised their price target on Burlington Stores from $284.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Gordon Haskett raised Burlington Stores from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research report on Monday, August 19th. Finally, 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 research note on Friday, August 23rd. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $301.06.

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 stock was sold at an average price of $277.05, for a total value of $472,370.25. Following the transaction, the director now owns 7,393 shares of the company’s stock, valued at approximately $2,048,230.65. The trade was a 18.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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.