Burlington Stores (NYSE:BURL) Updates FY 2024 Earnings Guidance

Burlington Stores (NYSE:BURL) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 7.660-7.960 for the period, compared to the consensus earnings per share estimate of 7.690. The company issued revenue guidance of $10.6 billion-$10.7 billion, compared to the consensus revenue estimate of $10.6 billion. Burlington Stores also updated its FY25 guidance to $7.66-7.96 EPS.

Burlington Stores Stock Down 1.2 %

Shares of NYSE:BURL traded down $3.27 during trading on Friday, reaching $263.90. The stock had a trading volume of 121,676 shares, compared to its average volume of 913,924. Burlington Stores has a one year low of $115.66 and a one year high of $282.49. The company has a market capitalization of $16.84 billion, a P/E ratio of 44.87, a PEG ratio of 1.36 and a beta of 1.61. The company has a current ratio of 1.07, a quick ratio of 0.52 and a debt-to-equity ratio of 1.20. The firm’s 50-day simple moving average is $251.63 and its 200 day simple moving average is $221.96.

Burlington Stores (NYSE:BURL) last released its earnings results on Thursday, May 30th. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.38. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Burlington Stores had a net margin of 3.87% and a return on equity of 46.39%. Burlington Stores’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the business earned $0.84 EPS. As a group, research analysts expect that Burlington Stores will post 7.61 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Gordon Haskett upgraded shares of Burlington Stores from a hold rating to a buy rating and set a $300.00 target price for the company in a research note on Monday, August 19th. Wells Fargo & Company raised their price target on shares of Burlington Stores from $300.00 to $325.00 and gave the stock an overweight rating in a research report on Friday, August 23rd. Bank of America raised their price target on shares of Burlington Stores from $275.00 to $315.00 and gave the stock a buy rating in a research report on Friday. The Goldman Sachs Group raised their price target on shares of Burlington Stores from $278.00 to $310.00 and gave the stock a buy rating in a research report on Friday. Finally, Robert W. Baird raised their price target on shares of Burlington Stores from $260.00 to $275.00 and gave the stock an outperform rating in a research report on Friday, May 31st. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $289.31.

Insider Activity at Burlington Stores

In related news, CMO Jennifer Vecchio sold 494 shares of Burlington Stores stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $255.37, for a total value of $126,152.78. Following the sale, the chief marketing officer now owns 61,907 shares of the company’s stock, valued at approximately $15,809,190.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.91% of the stock is owned by corporate insiders.

About Burlington Stores

Burlington Stores, Inc operates as a retailer of branded merchandise in the United States. The company provides fashion-focused merchandise, including women's ready-to-wear apparel, menswear, youth apparel, footwear, accessories, toys, gifts, and coats, as well as baby, home, and beauty products.