Burlington Stores, Inc. (BURL) Expected to Post Quarterly Sales of $1.46 Billion
Equities research analysts expect that Burlington Stores, Inc. (NYSE:BURL) will announce sales of $1.46 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Burlington Stores’ earnings, with the lowest sales estimate coming in at $1.44 billion and the highest estimate coming in at $1.46 billion. Burlington Stores posted sales of $1.34 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 9%. The firm is scheduled to report its next earnings results on Tuesday, November 28th.
According to Zacks, analysts expect that Burlington Stores will report full-year sales of $1.46 billion for the current financial year, with estimates ranging from $6.03 billion to $6.46 billion. For the next fiscal year, analysts expect that the firm will post sales of $6.47 billion per share, with estimates ranging from $6.37 billion to $6.52 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Burlington Stores.
Burlington Stores (NYSE:BURL) last released its quarterly earnings data on Thursday, August 24th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.22. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Burlington Stores had a net margin of 4.46% and a negative return on equity of 330.30%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 earnings per share.
A number of analysts have weighed in on the stock. 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 research report on Friday, June 2nd. BMO Capital Markets set a $115.00 target price on shares of Burlington Stores and gave the company a “buy” rating in a research report on Thursday, June 8th. BidaskClub lowered shares of Burlington Stores from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. MKM Partners restated a “buy” rating and issued a $108.00 target price (up previously from $104.00) on shares of Burlington Stores in a research report on Tuesday, May 30th. Finally, Citigroup Inc. cut their target price on shares of Burlington Stores from $100.00 to $94.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 30th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $105.75.
Burlington Stores (NYSE:BURL) traded down 0.81% during midday trading on Friday, hitting $90.13. 1,097,414 shares of the stock traded hands. The company’s 50 day moving average price is $86.38 and its 200 day moving average price is $92.42. The firm has a market cap of $6.14 billion, a PE ratio of 24.90 and a beta of 0.51. Burlington Stores has a 12 month low of $68.94 and a 12 month high of $104.07.
Burlington Stores declared that its Board of Directors has authorized a share repurchase program on Thursday, August 24th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
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In related news, insider Joyce Manning Magrini sold 3,335 shares of Burlington Stores stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $88.12, for a total transaction of $293,880.20. Following the completion of the transaction, the insider now owns 53,949 shares of the company’s stock, valued at $4,753,985.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Kingsbury sold 20,000 shares of Burlington Stores stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $84.03, for a total transaction of $1,680,600.00. Following the transaction, the chief executive officer now directly owns 518,008 shares of the company’s stock, valued at approximately $43,528,212.24. The disclosure for this sale can be found here. Insiders have sold 89,790 shares of company stock valued at $7,830,494 in the last three months. 2.60% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in BURL. BlackRock Inc. raised its stake in Burlington Stores by 7,290.1% during the first quarter. BlackRock Inc. now owns 3,091,815 shares of the company’s stock worth $300,802,000 after buying an additional 3,049,978 shares during the last quarter. Balyasny Asset Management LLC raised its stake in Burlington Stores by 123.3% during the second quarter. Balyasny Asset Management LLC now owns 1,408,518 shares of the company’s stock worth $129,570,000 after buying an additional 777,645 shares during the last quarter. KAMES CAPITAL plc bought a new position in Burlington Stores during the second quarter worth $70,090,000. Vanguard Group Inc. raised its stake in Burlington Stores by 9.8% during the first quarter. Vanguard Group Inc. now owns 6,361,806 shares of the company’s stock worth $618,940,000 after buying an additional 570,160 shares during the last quarter. Finally, Voya Investment Management LLC raised its stake in Burlington Stores by 23.9% during the second quarter. Voya Investment Management LLC now owns 2,879,622 shares of the company’s stock worth $264,896,000 after buying an additional 554,717 shares during the last quarter.
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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