Burlington Stores (NYSE:BURL) Releases Earnings Results, Beats Expectations By $0.02 EPS

Burlington Stores (NYSE:BURL) posted its earnings results on Tuesday. The company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.02, RTT News reports. Burlington Stores had a net margin of 4.18% and a return on equity of 47.43%. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same period in the previous year, the business posted $0.98 EPS. Burlington Stores’s revenue was up 10.5% on a year-over-year basis. Burlington Stores updated its FY 2024 guidance to 7.760-7.960 EPS and its Q4 guidance to $3.55-3.75 EPS.

Burlington Stores Stock Performance

Shares of NYSE BURL opened at $291.66 on Tuesday. The stock’s fifty day simple moving average is $261.73 and its 200 day simple moving average is $248.76. The stock has a market capitalization of $18.57 billion, a price-to-earnings ratio of 43.86, a PEG ratio of 1.46 and a beta of 1.64. The company has a quick ratio of 0.48, a current ratio of 1.04 and a debt-to-equity ratio of 1.15. Burlington Stores has a 52-week low of $168.49 and a 52-week high of $298.89.

Insider Activity

In other Burlington Stores news, Director Paul Sullivan sold 1,705 shares of Burlington Stores stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $277.05, for a total transaction of $472,370.25. Following the transaction, the director now directly owns 7,393 shares in the company, valued at approximately $2,048,230.65. The trade was a 18.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.91% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. The Goldman Sachs Group raised their target price on Burlington Stores from $278.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Loop Capital lifted their price objective on shares of Burlington Stores from $270.00 to $345.00 and gave the company a “buy” rating in a research note on Friday, August 30th. 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 report on Monday, August 19th. TD Cowen boosted their price target on shares of Burlington Stores from $288.00 to $334.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $300.00 price objective on shares of Burlington Stores in a report on Thursday, August 29th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $300.44.

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.