$0.61 EPS Expected for Burlington Stores, Inc. (BURL) This Quarter
Brokerages expect Burlington Stores, Inc. (NYSE:BURL) to post $0.61 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Burlington Stores’ earnings, with estimates ranging from $0.59 to $0.62. Burlington Stores posted 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 expected to report its next quarterly earnings results on Tuesday, November 28th.
On average, analysts expect that Burlington Stores will report full year earnings of $4.21 per share for the current year, with EPS estimates ranging from $4.17 to $4.31. For the next fiscal year, analysts anticipate that the company will report earnings of $4.67 per share, with EPS estimates ranging from $4.35 to $4.92. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Burlington Stores.
Burlington Stores (NYSE:BURL) last posted its earnings results on Thursday, August 24th. The company reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.22. Burlington Stores had a negative return on equity of 330.30% and a net margin of 4.46%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the company earned $0.39 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year.
A number of brokerages have recently weighed in on BURL. BMO Capital Markets set a $115.00 price target on Burlington Stores and gave the stock a “buy” rating in a research note 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. Cowen and Company reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of Burlington Stores in a research report on Friday, June 23rd. TheStreet cut shares of Burlington Stores from a “b-” rating to a “c+” rating in a research note on Friday, June 23rd. Finally, Credit Suisse Group cut shares of Burlington Stores from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $97.00 to $89.00 in a research note on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $105.75.
In related news, CEO Thomas Kingsbury sold 20,000 shares of Burlington Stores stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $87.81, for a total transaction of $1,756,200.00. Following the completion of the transaction, the chief executive officer now directly owns 495,308 shares in the company, valued at $43,492,995.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul Sullivan sold 1,722 shares of Burlington Stores stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $88.46, for a total value of $152,328.12. Following the transaction, the director now owns 3,441 shares of the company’s stock, valued at $304,390.86. The disclosure for this sale can be found here. Insiders have sold 86,457 shares of company stock valued at $7,520,358 over the last 90 days. 2.60% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Burlington Stores by 7,290.1% in the 1st quarter. BlackRock Inc. now owns 3,091,815 shares of the company’s stock worth $300,802,000 after purchasing an additional 3,049,978 shares in the last quarter. Balyasny Asset Management LLC increased its holdings in shares of Burlington Stores by 123.3% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,408,518 shares of the company’s stock valued at $129,570,000 after purchasing an additional 777,645 shares in the last quarter. KAMES CAPITAL plc purchased a new position in shares of Burlington Stores during the 2nd quarter valued at approximately $70,090,000. Vanguard Group Inc. lifted its stake in shares of Burlington Stores by 9.8% in the 1st quarter. Vanguard Group Inc. now owns 6,361,806 shares of the company’s stock valued at $618,940,000 after purchasing an additional 570,160 shares during the period. Finally, Voya Investment Management LLC lifted its stake in shares of Burlington Stores by 23.9% in the 2nd quarter. Voya Investment Management LLC now owns 2,879,622 shares of the company’s stock valued at $264,896,000 after purchasing an additional 554,717 shares during the period.
Burlington Stores (BURL) opened at 95.11 on Wednesday. Burlington Stores has a one year low of $68.94 and a one year high of $104.07. The company has a market capitalization of $6.48 billion, a P/E ratio of 26.27 and a beta of 0.53. The stock’s 50 day moving average price is $88.54 and its 200-day moving average price is $92.26.
Burlington Stores declared that its board has initiated a share repurchase plan on Thursday, August 24th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.
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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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