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 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.09), Briefing.com reports. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Burlington Stores had a net margin of 2.64% and a return on equity of 40.35%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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 Stock Performance

Burlington Stores stock opened at $160.56 on Friday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.58 and a current ratio of 1.19. The stock has a fifty day moving average of $188.50 and a two-hundred day moving average of $199.36. The company has a market capitalization of $10.43 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.

Analyst Upgrades and Downgrades

BURL has been the subject of a number of research analyst reports. Morgan Stanley upped their target price on Burlington Stores from $219.00 to $233.00 in a research report on Friday, March 3rd. OTR Global raised Burlington Stores from a “mixed” rating to a “positive” rating in a research report on Wednesday, February 1st. Jefferies Financial Group decreased their price objective on Burlington Stores from $260.00 to $225.00 in a research report on Tuesday, May 9th. UBS Group cut Burlington Stores from a “neutral” rating to a “sell” rating in a research report on Wednesday, March 29th. Finally, Citigroup raised their price target on Burlington Stores from $219.00 to $259.00 in a report on Monday, February 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $222.76.

Insiders Place Their Bets

In other news, Director William P. Mcnamara sold 500 shares of Burlington Stores stock in a transaction 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 of the company’s stock, valued at $1,730,768.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CMO Jennifer Vecchio sold 47,153 shares of Burlington Stores stock in a transaction 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 completion of the sale, the chief marketing officer now owns 55,173 shares of the company’s stock, valued at $11,556,536.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William P. Mcnamara sold 500 shares of the stock in a transaction dated 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 transaction, the director now directly owns 8,154 shares of the company’s stock, valued at approximately $1,730,768.04. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by company insiders.

Institutional Trading of Burlington Stores

Institutional investors and hedge funds have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV raised its position in shares of Burlington Stores by 4.9% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 1,462 shares of the company’s stock worth $295,000 after purchasing an additional 68 shares during the period. Salem Investment Counselors Inc. raised its position in shares of Burlington Stores by 58.2% during the 2nd quarter. Salem Investment Counselors Inc. now owns 193 shares of the company’s stock worth $26,000 after purchasing an additional 71 shares during the period. Ethic Inc. raised its position in shares of Burlington Stores by 6.5% during the 1st quarter. Ethic Inc. now owns 1,188 shares of the company’s stock worth $240,000 after purchasing an additional 73 shares during the period. KB Financial Partners LLC raised its position 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 worth $43,000 after purchasing an additional 97 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in Burlington Stores by 5.0% in the 1st quarter. CIBC Asset Management Inc now owns 2,226 shares of the company’s stock worth $450,000 after buying an additional 105 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.