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

Burlington Stores (NYSE:BURL) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 7.760-7.960 for the period, compared to the consensus EPS 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.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Bank of America raised their price objective on shares of Burlington Stores from $275.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. TD Cowen raised 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. Morgan Stanley upped their price objective on Burlington Stores from $285.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday. StockNews.com downgraded Burlington Stores from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, Barclays cut their price target on shares of Burlington Stores from $327.00 to $317.00 and set an “overweight” rating on the stock in a report on Wednesday. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $307.69.

Burlington Stores Price Performance

Shares of Burlington Stores stock opened at $288.60 on Thursday. The stock has a market capitalization of $18.37 billion, a P/E ratio of 43.40, a PEG ratio of 1.48 and a beta of 1.64. The business has a 50 day simple moving average of $262.06 and a two-hundred day simple moving average of $249.44. Burlington Stores has a 12 month low of $168.49 and a 12 month high of $298.89. 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 (NYSE:BURL) last posted its quarterly earnings data on Tuesday, November 26th. The company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.53 by $0.02. 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 during the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the prior year, the company earned $0.98 EPS. The firm’s revenue was up 10.5% compared to the same quarter last year. As a group, analysts predict that Burlington Stores will post 7.94 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Paul Sullivan sold 1,705 shares of the 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 completion of the sale, the director now owns 7,393 shares of the company’s stock, valued at approximately $2,048,230.65. This trade represents a 18.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.