Burlington Stores (NYSE:BURL) Posts Earnings Results, Misses Estimates By $0.09 EPS

Burlington Stores (NYSE:BURL – Get Rating) released its quarterly earnings data on Thursday. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.09), Briefing.com reports. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.18 billion. Burlington Stores had a return on equity of 40.35% and a net margin of 2.64%. Burlington Stores’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $0.54 EPS. Burlington Stores updated its Q2 guidance to $0.35-0.45 EPS and its FY24 guidance to $5.50-6.00 EPS.

Burlington Stores Price Performance

Burlington Stores stock opened at $160.56 on Friday. Burlington Stores has a 52 week low of $106.47 and a 52 week high of $239.94. The business has a 50-day simple moving average of $188.50 and a 200 day simple moving average of $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. The stock has a market cap of $10.43 billion, a price-to-earnings ratio of 45.74, a PEG ratio of 0.84 and a beta of 1.10.

Wall Street Analysts Forecast Growth

BURL has been the topic of several recent research reports. StockNews.com initiated coverage on shares of Burlington Stores in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Robert W. Baird dropped their price target on shares of Burlington Stores from $270.00 to $250.00 in a research report on Friday. OTR Global raised shares of Burlington Stores from a “mixed” rating to a “positive” rating in a research report on Wednesday, February 1st. UBS Group cut shares of Burlington Stores from a “neutral” rating to a “sell” rating in a research report on Wednesday, March 29th. Finally, Barclays dropped their price target on shares of Burlington Stores from $221.00 to $213.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $222.76.

Insider Buying and Selling

In other news, Director William P. Mcnamara sold 500 shares of the company’s stock in a transaction dated Tuesday, March 21st. The stock was 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 directly owns 8,154 shares in the company, valued at approximately $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 related news, CMO Jennifer Vecchio sold 47,153 shares of the company’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 value of $9,876,667.38. Following the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $106,130.00. Following the completion of the sale, 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 Trading of Burlington Stores

Several institutional investors have recently added to or reduced their stakes in BURL. Salem Investment Counselors Inc. grew its holdings 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 period. Quarry LP bought a new stake in shares of Burlington Stores during the 1st quarter valued at about $39,000. KB Financial Partners LLC grew its stake in shares of Burlington Stores by 68.8% during the 1st quarter. KB Financial Partners LLC now owns 238 shares of the company’s stock valued at $43,000 after purchasing an additional 97 shares during the period. Covestor Ltd grew its stake in shares of Burlington Stores by 98.8% during the 1st quarter. Covestor Ltd now owns 491 shares of the company’s stock valued at $90,000 after purchasing an additional 244 shares during the period. Finally, American Trust bought a new stake in shares of Burlington Stores during the 4th quarter valued at about $238,000.

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.