Burlington Stores (NYSE:BURL) Issues Q2 Earnings Guidance

Burlington Stores (NYSE:BURL – Get Rating) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.35-0.45 for the period, compared to the consensus estimate of $0.68. The company issued revenue guidance of +8-10% yr/yr $2.15-2.19 billion, compared to the consensus revenue estimate of $2.20 billion. Burlington Stores also updated its FY24 guidance to $5.50-6.00 EPS.

Wall Street Analysts Forecast Growth

BURL has been the topic of several analyst reports. Robert W. Baird upped their price target on shares of Burlington Stores from $240.00 to $270.00 in a research report on Friday, March 3rd. Wells Fargo & Company raised their target price on shares of Burlington Stores from $225.00 to $275.00 and gave the company an overweight rating in a research note on Tuesday, February 21st. OTR Global upgraded Burlington Stores from a mixed rating to a positive rating in a report on Wednesday, February 1st. Morgan Stanley upped their price objective on Burlington Stores from $219.00 to $233.00 in a research note on Friday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Burlington Stores from $214.00 to $235.00 and gave the stock a buy rating in a research note on Friday, March 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $225.94.

Burlington Stores Stock Performance

Shares of NYSE:BURL opened at $166.90 on Thursday. The company has a quick ratio of 0.58, a current ratio of 1.19 and a debt-to-equity ratio of 1.84. Burlington Stores has a 12-month low of $106.47 and a 12-month high of $239.94. The company’s 50 day moving average price is $189.57 and its two-hundred day moving average price is $199.63. The firm has a market cap of $10.84 billion, a PE ratio of 47.55, a PEG ratio of 0.82 and a beta of 1.10.

Burlington Stores (NYSE:BURL – Get Rating) last issued its quarterly earnings results on Thursday, March 2nd. The company reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.24. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.61 billion. Burlington Stores had a return on equity of 40.35% and a net margin of 2.64%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.53 earnings per share. Equities research analysts predict that Burlington Stores will post 5.88 earnings per share for the current year.

Insider Buying and Selling

In related news, CMO Jennifer Vecchio sold 47,153 shares of the company’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $209.46, for a total transaction of $9,876,667.38. Following the completion of the sale, the chief marketing officer now owns 55,173 shares of the company’s stock, valued at $11,556,536.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Burlington Stores news, CMO Jennifer Vecchio sold 47,153 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $209.46, for a total transaction of $9,876,667.38. Following the completion of the transaction, the chief marketing officer now directly owns 55,173 shares in the company, valued at $11,556,536.58. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William P. Mcnamara sold 500 shares of Burlington Stores stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $212.26, for a total value of $106,130.00. Following the completion of the transaction, the director now owns 8,154 shares in the company, valued at approximately $1,730,768.04. The disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On Burlington Stores

A number of hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can lifted its stake in Burlington Stores by 5.8% in the 1st quarter. Bank of Montreal Can now owns 6,412 shares of the company’s stock valued at $1,222,000 after purchasing an additional 349 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Burlington Stores during the 1st quarter valued at $246,000. MetLife Investment Management LLC bought a new stake in Burlington Stores during the 1st quarter worth $751,000. Yousif Capital Management LLC increased its holdings in Burlington Stores by 8.5% in the 1st quarter. Yousif Capital Management LLC now owns 1,538 shares of the company’s stock worth $280,000 after purchasing an additional 120 shares in the last quarter. Finally, Raymond James Trust N.A. raised its position in Burlington Stores by 14.9% in the first quarter. Raymond James Trust N.A. now owns 1,471 shares of the company’s stock valued at $268,000 after purchasing an additional 191 shares during the last quarter.

Burlington Stores Company Profile

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Burlington Stores, Inc engages in the retail of off-price apparel and home products. It offers women’s ready-to-wear apparel, accessories, footwear, menswear, youth apparel, baby, coats, beauty, toys, and gifts. It operates through the following segments: Ladies Apparel, Accessories and Shoes, Home, Mens Apparel, Kids Apparel and Baby, and Outerwear.