$1.35 Billion in Sales Expected for Burlington Stores, Inc. (NYSE:BURL) This Quarter
Equities analysts predict that Burlington Stores, Inc. (NYSE:BURL) will report sales of $1.35 billion for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Burlington Stores’ earnings, with the lowest sales estimate coming in at $1.34 billion and the highest estimate coming in at $1.36 billion. Burlington Stores posted sales of $1.26 billion in the same quarter last year, which suggests a positive year over year growth rate of 7.1%. The firm is expected to report its next earnings results on Thursday, August 24th.
According to Zacks, analysts expect that Burlington Stores will report full-year sales of $1.35 billion for the current fiscal year, with estimates ranging from $5.98 billion to $6.05 billion. For the next year, analysts forecast that the business will post 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 research firms that that provide coverage for Burlington Stores.
Burlington Stores (NYSE:BURL) last released its quarterly earnings data on Thursday, May 25th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.70 by $0.09. Burlington Stores had a negative return on equity of 294.39% and a net margin of 4.08%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the company earned $0.57 EPS. Burlington Stores’s revenue for the quarter was up 4.9% on a year-over-year basis.
A number of research firms have commented on BURL. Zacks Investment Research upgraded Burlington Stores from a “hold” rating to a “buy” rating and set a $111.00 price target for the company in a research note on Friday, June 2nd. BMO Capital Markets set a $115.00 price target on Burlington Stores and gave the company a “buy” rating in a research note on Thursday, June 8th. Wolfe Research assumed coverage on Burlington Stores in a research note on Friday, April 28th. They issued an “outperform” rating and a $113.00 price target for the company. BidaskClub cut Burlington Stores from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Finally, Vetr cut Burlington Stores from a “strong-buy” rating to a “buy” rating and set a $105.25 price objective for the company. in a research note on Thursday, April 20th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Burlington Stores currently has an average rating of “Buy” and an average price target of $103.52.
In other Burlington Stores news, CEO Thomas Kingsbury sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $88.20, for a total value of $1,764,000.00. Following the sale, the chief executive officer now directly owns 538,308 shares of the company’s stock, valued at $47,478,765.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joyce Manning Magrini sold 3,333 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $93.05, for a total value of $310,135.65. Following the completion of the sale, the insider now directly owns 56,882 shares in the company, valued at $5,292,870.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,833 shares of company stock worth $4,298,011. 2.60% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Comerica Bank acquired a new stake in shares of Burlington Stores during the fourth quarter valued at approximately $301,000. Guggenheim Capital LLC raised its stake in shares of Burlington Stores by 12.9% in the fourth quarter. Guggenheim Capital LLC now owns 22,875 shares of the company’s stock valued at $1,939,000 after buying an additional 2,613 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Burlington Stores during the fourth quarter valued at approximately $7,042,000. HighPoint Advisor Group LLC raised its stake in shares of Burlington Stores by 11.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 6,454 shares of the company’s stock valued at $572,000 after buying an additional 681 shares during the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of Burlington Stores by 65.2% in the fourth quarter. Teachers Advisors LLC now owns 253,839 shares of the company’s stock valued at $21,513,000 after buying an additional 100,210 shares during the last quarter.
Burlington Stores (NYSE BURL) traded down 2.06% during midday trading on Friday, hitting $85.69. The company’s stock had a trading volume of 2,423,837 shares. Burlington Stores has a one year low of $68.94 and a one year high of $104.07. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 26.59 and a beta of 0.53. The company’s 50-day moving average is $92.95 and its 200 day moving average is $92.08.
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About Burlington Stores
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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