Burlington Stores (NYSE:BURL) Posts Earnings Results, Beats Estimates By $0.02 EPS

Burlington Stores (NYSE:BURL) posted its quarterly earnings results on Tuesday. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.02, RTT News reports. Burlington Stores had a net margin of 4.18% and a return on equity of 47.43%. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. 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 Trading Up 0.5 %

NYSE:BURL opened at $288.36 on Friday. The company has a quick ratio of 0.48, a current ratio of 1.04 and a debt-to-equity ratio of 1.15. The company’s 50 day moving average price is $262.41 and its 200-day moving average price is $249.71. Burlington Stores has a 52 week low of $168.49 and a 52 week high of $298.89. The stock has a market cap of $18.36 billion, a price-to-earnings ratio of 43.36, a PEG ratio of 1.48 and a beta of 1.64.

Insider Buying and Selling

In other news, Director Paul Sullivan sold 1,705 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $277.05, for a total transaction of $472,370.25. Following the completion of the sale, the director now owns 7,393 shares of the company’s stock, valued at $2,048,230.65. This represents a 18.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.91% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of Burlington Stores from $315.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday. Citigroup raised their price objective on Burlington Stores from $313.00 to $344.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group lifted their price objective on shares of Burlington Stores from $278.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, August 30th. 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 research note on Monday. Finally, Robert W. Baird boosted their price objective on shares of Burlington Stores from $315.00 to $330.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.69.

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.