Burlington Stores, Inc. (BURL) Expected to Announce Quarterly Sales of $1.45 Billion
Wall Street analysts expect Burlington Stores, Inc. (NYSE:BURL) to post sales of $1.45 billion for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Burlington Stores’ earnings. The highest sales estimate is $1.46 billion and the lowest is $1.44 billion. Burlington Stores posted sales of $1.34 billion during the same quarter last year, which would suggest a positive year over year growth rate of 8.2%. The firm is expected to announce its next earnings report on Tuesday, November 28th.
On average, analysts expect that Burlington Stores will report full-year sales of $1.45 billion for the current fiscal year, with estimates ranging from $5.99 billion to $6.08 billion. For the next financial year, analysts expect that the company will post sales of $6.38 billion per share, with estimates ranging from $6.28 billion to $6.42 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Burlington Stores.
Burlington Stores (NYSE:BURL) last issued its earnings results on Thursday, August 24th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.22. Burlington Stores had a net margin of 4.46% and a negative return on equity of 330.30%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the company posted $0.39 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year.
BURL has been the subject of a number of research analyst reports. MKM Partners reissued a “buy” rating and issued a $108.00 price target (up from $104.00) on shares of Burlington Stores in a report on Tuesday, May 30th. BMO Capital Markets set a $115.00 price target on shares of Burlington Stores and gave the company a “buy” rating in a report on Thursday, June 8th. BidaskClub raised shares of Burlington Stores from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Zacks Investment Research downgraded shares of Burlington Stores from a “buy” rating to a “hold” rating in a report on Thursday, June 1st. Finally, Cowen and Company set a $105.00 price target on shares of Burlington Stores and gave the company a “buy” rating in a report on Monday, August 14th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $105.59.
In other Burlington Stores news, CEO Thomas Kingsbury sold 20,000 shares of the business’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $88.20, for a total transaction of $1,764,000.00. Following the sale, the chief executive officer now owns 538,308 shares in the company, valued at approximately $47,478,765.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Fred Hand sold 12,500 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $100.47, for a total value of $1,255,875.00. Following the sale, the insider now owns 80,809 shares in the company, valued at approximately $8,118,880.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,168 shares of company stock worth $5,304,491. Corporate insiders own 2.60% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. TrimTabs Asset Management LLC bought a new stake in Burlington Stores during the first quarter valued at about $122,000. Advisor Group Inc. increased its stake in Burlington Stores by 9.2% in the second quarter. Advisor Group Inc. now owns 1,520 shares of the company’s stock valued at $139,000 after buying an additional 128 shares during the last quarter. Nine Chapters Capital Management LLC bought a new stake in Burlington Stores during the first quarter valued at about $204,000. Laurion Capital Management LP bought a new stake in Burlington Stores during the first quarter valued at about $204,000. Finally, The Manufacturers Life Insurance Company increased its stake in Burlington Stores by 10.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,257 shares of the company’s stock valued at $208,000 after buying an additional 210 shares during the last quarter.
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Burlington Stores (NYSE BURL) opened at 87.20 on Tuesday. The stock has a market cap of $5.94 billion, a PE ratio of 24.09 and a beta of 0.51. Burlington Stores has a one year low of $68.94 and a one year high of $104.07. The company’s 50 day moving average is $86.38 and its 200 day moving average is $92.22.
Burlington Stores announced that its board has initiated a stock buyback program on Thursday, August 24th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
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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