Analysts Anticipate Burlington Stores, Inc. (BURL) to Post $0.61 Earnings Per Share
Analysts predict that Burlington Stores, Inc. (NYSE:BURL) will announce $0.61 earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for Burlington Stores’ earnings. The highest EPS estimate is $0.62 and the lowest is $0.59. Burlington Stores reported earnings per share of $0.51 during the same quarter last year, which indicates a positive year-over-year growth rate of 19.6%. The company is scheduled to report its next earnings report on Tuesday, November 28th.
According to Zacks, analysts expect that Burlington Stores will report full-year earnings of $4.19 per share for the current financial year, with EPS estimates ranging from $4.17 to $4.24. For the next fiscal year, analysts forecast that the firm will report earnings of $4.63 per share, with EPS estimates ranging from $4.35 to $4.85. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Burlington Stores.
Burlington Stores (NYSE:BURL) last announced its quarterly earnings data on Thursday, August 24th. The company reported $0.72 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the business earned $0.39 EPS. The company’s revenue was up 8.6% on a year-over-year basis.
A number of equities research analysts have commented on the company. Bank of America Corporation raised their price objective on Burlington Stores from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, May 30th. Cowen and Company set a $105.00 price objective on Burlington Stores and gave the company a “buy” rating in a research note on Monday, August 14th. BMO Capital Markets reissued a “buy” rating and issued a $115.00 price objective on shares of Burlington Stores in a research note on Wednesday. Deutsche Bank AG assumed coverage on Burlington Stores in a research note on Thursday. They issued a “buy” rating and a $108.00 price objective for the company. Finally, Credit Suisse Group cut Burlington Stores from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $97.00 to $89.00 in a research note on Wednesday, August 2nd. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $105.75.
Shares of Burlington Stores (BURL) opened at 90.85 on Friday. Burlington Stores has a one year low of $68.94 and a one year high of $104.07. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of 25.10 and a beta of 0.51. The stock has a 50 day moving average of $86.30 and a 200-day moving average of $92.41.
Burlington Stores announced that its Board of Directors has initiated a stock buyback plan on Thursday, August 24th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
In other news, insider Joyce Manning Magrini sold 3,333 shares of Burlington Stores stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $93.05, for a total value of $310,135.65. Following the completion of the transaction, the insider now directly owns 56,882 shares in the company, valued at $5,292,870.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Fred Hand sold 8,000 shares of Burlington Stores stock in a transaction on Monday, September 11th. The shares were sold at an average price of $87.80, for a total value of $702,400.00. Following the completion of the transaction, the insider now owns 76,309 shares of the company’s stock, valued at $6,699,930.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,790 shares of company stock worth $7,830,494. Corporate insiders own 2.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its position in shares of Burlington Stores by 62.1% in the second quarter. Public Employees Retirement System of Ohio now owns 102,454 shares of the company’s stock valued at $9,425,000 after purchasing an additional 39,256 shares in the last quarter. 361 Capital LLC grew its position in shares of Burlington Stores by 596.5% in the second quarter. 361 Capital LLC now owns 71,220 shares of the company’s stock valued at $6,552,000 after purchasing an additional 60,995 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of 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 purchasing an additional 210 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Burlington Stores by 24.4% in the second quarter. Cubist Systematic Strategies LLC now owns 10,113 shares of the company’s stock valued at $930,000 after purchasing an additional 1,982 shares in the last quarter. Finally, Point72 Europe London LLP purchased a new position in shares of Burlington Stores in the second quarter valued at $1,039,000.
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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