$1.35 Billion in Sales Expected for Burlington Stores, Inc. (BURL) This Quarter
Brokerages expect Burlington Stores, Inc. (NYSE:BURL) to announce $1.35 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Burlington Stores’ earnings, with estimates ranging from $1.34 billion to $1.36 billion. Burlington Stores reported sales of $1.26 billion during the same quarter last year, which indicates a positive year over year growth rate of 7.1%. The firm is expected to issue its next quarterly earnings report on Thursday, August 24th.
According to Zacks, analysts expect that Burlington Stores will report full year sales of $1.35 billion for the current financial year, with estimates ranging from $5.98 billion to $6.05 billion. For the next financial year, analysts forecast that the business will report sales of $6.38 billion per share, with estimates ranging from $6.27 billion to $6.42 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Burlington Stores.
Burlington Stores (NYSE:BURL) last released its quarterly earnings results on Thursday, May 25th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.09. Burlington Stores had a net margin of 4.08% and a negative return on equity of 294.39%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the company earned $0.57 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis.
A number of research firms have issued reports on BURL. Zacks Investment Research upgraded shares of Burlington Stores from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a report on Friday, June 2nd. BMO Capital Markets set a $115.00 target price on shares of Burlington Stores and gave the stock a “buy” rating in a report on Thursday, June 8th. Wolfe Research began coverage on shares of Burlington Stores in a report on Friday, April 28th. They set an “outperform” rating and a $113.00 target price on the stock. BidaskClub lowered shares of Burlington Stores from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Finally, Vetr downgraded shares of Burlington Stores from a “strong-buy” rating to a “buy” rating and set a $105.25 price objective on the stock. in a research report on Thursday, April 20th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $103.52.
In related news, CFO Marc Katz sold 10,000 shares of the stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $96.80, for a total value of $968,000.00. Following the transaction, the chief financial officer now directly owns 123,555 shares of the company’s stock, valued at approximately $11,960,124. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Fred Hand sold 12,500 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $100.47, for a total transaction of $1,255,875.00. Following the completion of the transaction, the insider now directly owns 80,809 shares in the company, valued at $8,118,880.23. The disclosure for this sale can be found here. Insiders sold a total of 45,833 shares of company stock worth $4,471,110 over the last ninety days. Insiders own 2.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. TrimTabs Asset Management LLC bought a new position in Burlington Stores during the first quarter worth approximately $122,000. CAPROCK Group Inc. bought a new position in Burlington Stores during the first quarter worth approximately $202,000. Nine Chapters Capital Management LLC bought a new position in Burlington Stores during the first quarter worth approximately $204,000. Laurion Capital Management LP bought a new position in Burlington Stores during the first quarter worth approximately $204,000. Finally, First Republic Investment Management Inc. bought a new position in Burlington Stores during the fourth quarter worth approximately $207,000.
Burlington Stores (NYSE BURL) traded up 0.75% during trading on Wednesday, reaching $90.31. 711,887 shares of the company’s stock traded hands. The company has a market cap of $6.24 billion, a PE ratio of 28.02 and a beta of 0.53. The company has a 50 day moving average price of $98.25 and a 200-day moving average price of $91.84. Burlington Stores has a 12-month low of $60.62 and a 12-month high of $104.07.
Burlington Stores Company Profile
Burlington Stores, Inc is a retailer of branded apparel. As of January 28, 2017, the Company operated 592 retail stores, inclusive of an Internet store, in 45 states and Puerto Rico. Its product categories include coats, women, men, juniors, girls, boys, shoes, handbags and accessories, beauty and fragrance, home and toys.
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