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 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 Up 0.5 %

Shares of 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 fifty day simple moving average is $262.41 and its 200 day simple moving average is $249.71. Burlington Stores has a 12-month low of $168.49 and a 12-month high of $298.89. The firm has a market cap of $18.36 billion, a PE ratio of 43.36, a P/E/G ratio of 1.48 and a beta of 1.64.

Burlington Stores (NYSE:BURL) last released its quarterly earnings data on Tuesday, November 26th. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.02. 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 for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. The business’s revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts forecast that Burlington Stores will post 7.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Citigroup raised their price objective on shares of Burlington Stores from $313.00 to $344.00 and gave the stock a “buy” rating in a report on Wednesday. Robert W. Baird raised their price objective on shares of Burlington Stores from $315.00 to $330.00 and gave the stock an “outperform” rating in a report on Wednesday. Evercore ISI raised their price objective on shares of Burlington Stores from $315.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday. Loop Capital raised their price objective on shares of Burlington Stores from $270.00 to $345.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $310.00 price objective on shares of Burlington Stores in a report on Tuesday. Two research 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $307.69.

Insiders Place Their Bets

In other Burlington Stores news, Director Paul Sullivan sold 1,705 shares of Burlington Stores stock in a transaction that occurred 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 transaction, the director now directly 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 legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.91% of the company’s stock.

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.