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 EPS guidance of $0.35-0.45 for the period, compared to the consensus EPS 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.

Analyst Ratings Changes

BURL has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Burlington Stores from $275.00 to $250.00 in a report on Friday. OTR Global raised shares of Burlington Stores from a mixed rating to a positive rating in a research note on Wednesday, February 1st. Morgan Stanley raised their price objective on shares of Burlington Stores from $219.00 to $233.00 in a research note on Friday, March 3rd. Jefferies Financial Group reduced their target price on shares of Burlington Stores from $260.00 to $225.00 in a research report on Tuesday, May 9th. Finally, Loop Capital lifted their price objective on shares of Burlington Stores from $220.00 to $225.00 in a report on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $222.76.

Burlington Stores Stock Performance

Shares of NYSE:BURL traded down $2.90 on Friday, reaching $157.66. 367,397 shares of the company’s stock were exchanged, compared to its average volume of 986,505. The firm has a market capitalization of $10.24 billion, a price-to-earnings ratio of 45.74, a PEG ratio of 0.84 and a beta of 1.10. Burlington Stores has a fifty-two week low of $106.47 and a fifty-two week high of $239.94. The business’s 50-day moving average is $188.50 and its two-hundred day moving average is $199.36. 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 released its quarterly earnings data on Thursday, May 25th. The company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.09). The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.18 billion. Burlington Stores had a return on equity of 40.35% and a net margin of 2.64%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same period last year, the business earned $0.54 EPS. As a group, equities research analysts forecast that Burlington Stores will post 5.88 EPS for the current year.

Insiders Place Their Bets

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

A number of institutional investors have recently modified their holdings of the company. Salem Investment Counselors Inc. grew its stake in shares of Burlington Stores by 58.2% in the second quarter. Salem Investment Counselors Inc. now owns 193 shares of the company’s stock worth $26,000 after acquiring an additional 71 shares during the last quarter. Quarry LP acquired a new stake in Burlington Stores during the first quarter worth $39,000. KB Financial Partners LLC boosted its stake in Burlington Stores by 68.8% during the first quarter. KB Financial Partners LLC now owns 238 shares of the company’s stock worth $43,000 after buying an additional 97 shares in the last quarter. Covestor Ltd boosted its stake in Burlington Stores by 98.8% during the first quarter. Covestor Ltd now owns 491 shares of the company’s stock worth $90,000 after buying an additional 244 shares in the last quarter. Finally, Prudential PLC acquired a new stake in Burlington Stores during the first quarter worth $218,000.

About Burlington Stores

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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.