Burlington Stores (NYSE:BURL) Releases FY24 Earnings Guidance

Burlington Stores (NYSE:BURL – Get Rating) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $5.50-6.00 for the period, compared to the consensus earnings per share estimate of $6.02. The company issued revenue guidance of +12-14% yr/yr to $9.75-9.92 billion, compared to the consensus revenue estimate of $9.82 billion. Burlington Stores also updated its Q2 guidance to $0.35-0.45 EPS.

Burlington Stores Stock Up 3.2 %

Shares of BURL opened at $166.90 on Thursday. The company has a market capitalization of $10.84 billion, a price-to-earnings ratio of 47.55, a PEG ratio of 0.82 and a beta of 1.10. Burlington Stores has a 52 week low of $106.47 and a 52 week high of $239.94. The stock’s 50-day moving average price is $189.57 and its 200-day moving average price is $199.63. 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 (NYSE:BURL – Get Rating) last posted its earnings results on Thursday, March 2nd. The company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.24. Burlington Stores had a net margin of 2.64% and a return on equity of 40.35%. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the previous year, the business posted $2.53 EPS. The business’s revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts predict that Burlington Stores will post 5.88 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on BURL shares. Jefferies Financial Group dropped their price target on Burlington Stores from $260.00 to $225.00 in a research report on Tuesday, May 9th. Credit Suisse Group increased their target price on shares of Burlington Stores from $205.00 to $245.00 and gave the company an outperform rating in a research report on Friday, March 3rd. UBS Group lowered shares of Burlington Stores from a neutral rating to a sell rating in a research report on Wednesday, March 29th. JPMorgan Chase & Co. cut their price objective on shares of Burlington Stores from $245.00 to $214.00 in a report on Monday, May 8th. Finally, Robert W. Baird upped their price target on Burlington Stores from $240.00 to $270.00 in a research report on Friday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $225.94.

Insider Activity

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

Hedge Funds Weigh In On Burlington Stores

Institutional investors and hedge funds have recently made changes to their positions in the stock. Toroso Investments LLC acquired a new stake in shares of Burlington Stores in the first quarter valued at about $415,000. Rockefeller Capital Management L.P. lifted its position in shares of Burlington Stores by 135.4% during the 1st quarter. Rockefeller Capital Management L.P. now owns 2,959 shares of the company’s stock valued at $597,000 after acquiring an additional 1,702 shares during the period. KB Financial Partners LLC purchased a new stake in shares of Burlington Stores during the 1st quarter worth approximately $58,000. Mercer Global Advisors Inc. ADV grew its holdings in shares of Burlington Stores by 4.9% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 1,462 shares of the company’s stock worth $295,000 after acquiring an additional 68 shares during the period. Finally, Silvercrest Asset Management Group LLC increased its stake in Burlington Stores by 1.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 8,380 shares of the company’s stock valued at $1,694,000 after purchasing an additional 117 shares in 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.