Burlington Stores (NYSE:BURL) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Burlington Stores (NYSE:BURL) released its quarterly earnings results on Thursday. The company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.28 by $0.02, Yahoo Finance reports. Burlington Stores had a net margin of 3.49% and a return on equity of 45.28%. The company had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same quarter last year, the business earned $2.96 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis.

Burlington Stores Stock Down 2.3 %

Burlington Stores stock opened at $216.25 on Friday. The company has a market capitalization of $13.95 billion, a PE ratio of 41.22, a price-to-earnings-growth ratio of 1.14 and a beta of 1.48. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.45 and a current ratio of 1.15. Burlington Stores has a fifty-two week low of $115.66 and a fifty-two week high of $227.49. The firm has a 50 day moving average price of $197.91 and a 200 day moving average price of $166.79.

Wall Street Analysts Forecast Growth

BURL has been the topic of several recent analyst reports. UBS Group increased their price objective on shares of Burlington Stores from $120.00 to $126.00 and gave the company a “sell” rating in a report on Monday, November 27th. Evercore ISI boosted their price objective on Burlington Stores from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Piper Sandler upgraded Burlington Stores from a “neutral” rating to an “overweight” rating and raised their target price for the company from $155.00 to $240.00 in a research report on Wednesday, January 17th. StockNews.com upgraded Burlington Stores from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Morgan Stanley raised their price objective on Burlington Stores from $167.00 to $182.00 and gave the company an “overweight” rating in a report on Wednesday, November 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $210.69.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BURL. Salem Investment Counselors Inc. increased its position in shares of Burlington Stores by 58.2% during 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 acquired a new stake in Burlington Stores in the 1st quarter valued at about $39,000. KB Financial Partners LLC boosted its stake in shares of Burlington Stores by 68.8% in the 1st quarter. KB Financial Partners LLC now owns 238 shares of the company’s stock valued at $43,000 after buying an additional 97 shares during the period. Covestor Ltd grew its position in shares of 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, Wahed Invest LLC grew its holdings in Burlington Stores by 10.8% during the 2nd quarter. Wahed Invest LLC now owns 935 shares of the company’s stock worth $147,000 after acquiring an additional 91 shares in the last quarter.

About Burlington Stores

Burlington Stores, Inc operates as a retailer of branded apparel products 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.