$0.61 EPS Expected for Burlington Stores, Inc. (BURL) This Quarter
Wall Street analysts forecast that Burlington Stores, Inc. (NYSE:BURL) will report earnings per share of $0.61 for the current quarter, according to Zacks. Three 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 in the same quarter last year, which suggests a positive year over year growth rate of 19.6%. The company is expected to announce its next earnings report on Tuesday, November 28th.
According to Zacks, 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 expect that the firm will post earnings of $4.67 per share, with EPS estimates ranging from $4.35 to $4.92. Zacks’ EPS averages are an average based on a survey of analysts that cover Burlington Stores.
Burlington Stores (NYSE:BURL) last released its earnings results on Thursday, August 24th. The company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the business posted $0.39 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year.
Several analysts have recently commented on the company. Buckingham Research reaffirmed a “buy” rating and issued a $107.00 target price on shares of Burlington Stores in a research report on Thursday. SunTrust Banks, Inc. set a $109.00 target price on Burlington Stores and gave the stock a “buy” rating in a research report on Monday, October 16th. BidaskClub cut Burlington Stores from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Deutsche Bank AG started coverage on Burlington Stores in a research report on Thursday, September 14th. They issued a “buy” rating and a $108.00 target price for the company. Finally, BMO Capital Markets reissued a “buy” rating and set a $115.00 price objective on shares of Burlington Stores in a research report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the company’s stock. Burlington Stores currently has an average rating of “Buy” and a consensus target price of $105.70.
Burlington Stores (NYSE:BURL) traded down 0.55% during trading on Friday, reaching $88.54. The company had a trading volume of 1,296,103 shares. Burlington Stores has a 12 month low of $68.94 and a 12 month high of $104.07. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 24.46 and a beta of 0.53. The stock has a 50 day moving average price of $90.78 and a 200 day moving average price of $91.89.
Burlington Stores declared that its board has approved a share repurchase program on Thursday, August 24th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In other news, CEO Thomas Kingsbury sold 20,000 shares of Burlington Stores stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $92.29, for a total value of $1,845,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joyce Manning Magrini sold 3,335 shares of Burlington Stores stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $88.12, for a total value of $293,880.20. Following the completion of the transaction, the insider now owns 53,949 shares in the company, valued at $4,753,985.88. The disclosure for this sale can be found here. Insiders sold 88,857 shares of company stock worth $7,828,142 over the last quarter. 2.60% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Advisor Group Inc. increased its stake in shares of Burlington Stores by 9.2% in the second quarter. Advisor Group Inc. now owns 1,520 shares of the company’s stock worth $139,000 after purchasing an additional 128 shares during the period. The Manufacturers Life Insurance Company increased its stake in Burlington Stores by 10.3% during the second quarter. The Manufacturers Life Insurance Company now owns 2,257 shares of the company’s stock valued at $208,000 after acquiring an additional 210 shares during the period. Gilbert & Cook Inc. bought a new position in Burlington Stores during the second quarter valued at about $210,000. Massachusetts Financial Services Co. MA bought a new position in Burlington Stores during the first quarter valued at about $241,000. Finally, Sciencast Management LP bought a new position in Burlington Stores during the second quarter valued at about $231,000.
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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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