Burlington Stores (NYSE:BURL) Issues Quarterly Earnings Results

Burlington Stores (NYSE:BURL) posted its 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. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.55 billion. Burlington Stores had a return on equity of 47.43% and a net margin of 4.18%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 EPS. 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 Stock Up 0.6 %

NYSE:BURL opened at $288.60 on Thursday. The firm has a market capitalization of $18.37 billion, a price-to-earnings ratio of 43.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.64. The company has a quick ratio of 0.48, a current ratio of 1.04 and a debt-to-equity ratio of 1.15. Burlington Stores has a twelve month low of $168.49 and a twelve month high of $298.89. The stock’s 50 day moving average price is $262.06 and its two-hundred day moving average price is $249.44.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BURL shares. Wells Fargo & Company boosted their price target on shares of Burlington Stores from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Gordon Haskett raised Burlington Stores from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Monday, August 19th. Bank of America raised their price target on Burlington Stores from $275.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Robert W. Baird lifted their price objective on Burlington Stores from $315.00 to $330.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, UBS Group increased their target price on Burlington Stores from $270.00 to $280.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Two equities 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $307.69.

Insider Activity at Burlington Stores

In other Burlington Stores news, Director Paul Sullivan sold 1,705 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was 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 trade represents a 18.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.91% of the stock is 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.