Brokerages predict that Burlington Stores, Inc. (NYSE:BURL) will post $1.44 billion in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Burlington Stores’ earnings. Burlington Stores reported sales of $1.35 billion during the same quarter last year, which would suggest a positive year over year growth rate of 6.7%. The business is expected to issue its next earnings report on Tuesday, November 28th.
On average, analysts expect that Burlington Stores will report full year sales of $1.44 billion for the current year, with estimates ranging from $6.01 billion to $6.08 billion. For the next fiscal year, analysts anticipate that the company will post sales of $6.44 billion per share, with estimates ranging from $6.37 billion to $6.48 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Burlington Stores.
Burlington Stores (NYSE:BURL) last issued its quarterly earnings data on Thursday, August 24th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.22. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Burlington Stores had a negative return on equity of 330.30% and a net margin of 4.46%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 EPS.
Several research firms have commented on BURL. Cowen and Company reaffirmed a “buy” rating and issued a $110.00 target price on shares of Burlington Stores in a research note on Friday. BMO Capital Markets set a $115.00 target price on shares of Burlington Stores and gave the stock a “buy” rating in a research note on Tuesday, August 8th. BidaskClub raised shares of Burlington Stores from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Zacks Investment Research raised shares of Burlington Stores from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a research note on Wednesday, November 1st. Finally, Credit Suisse Group cut shares of Burlington Stores from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $97.00 to $89.00 in a research note on Wednesday, August 2nd. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $105.96.
Shares of Burlington Stores (BURL) opened at $98.30 on Monday. The company has a market cap of $6,779.95, a P/E ratio of 26.35, a price-to-earnings-growth ratio of 1.33 and a beta of 0.51. The company has a quick ratio of 0.24, a current ratio of 1.03 and a debt-to-equity ratio of -13.31. Burlington Stores has a 12 month low of $71.41 and a 12 month high of $104.07.
Burlington Stores announced that its Board of Directors has authorized a share repurchase program on Thursday, August 24th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
In related news, insider Fred Hand sold 8,000 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $87.80, for a total transaction of $702,400.00. Following the completion of the sale, the insider now directly owns 76,309 shares of the company’s stock, valued at approximately $6,699,930.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joyce Manning Magrini sold 2,400 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $88.00, for a total transaction of $211,200.00. Following the sale, the insider now directly owns 49,914 shares of the company’s stock, valued at $4,392,432. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,922 shares of company stock valued at $6,082,550. 2.60% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. boosted its position in Burlington Stores by 106.4% during the 2nd quarter. Prudential Financial Inc. now owns 799,810 shares of the company’s stock worth $73,575,000 after purchasing an additional 412,380 shares during the period. Old Mutual Global Investors UK Ltd. lifted its holdings in Burlington Stores by 582.2% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 483,077 shares of the company’s stock worth $44,438,000 after buying an additional 412,262 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Burlington Stores in the 2nd quarter worth $248,000. Teacher Retirement System of Texas lifted its holdings in Burlington Stores by 0.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 5,619 shares of the company’s stock worth $517,000 after buying an additional 41 shares in the last quarter. Finally, 1060 Capital LLC acquired a new position in Burlington Stores in the 2nd quarter worth $27,597,000.
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Burlington Stores Company Profile
Burlington Stores, Inc is a retailer of branded apparel. As of January 28, 2017, the Company operated 592 retail stores, inclusive of an Internet store, in 45 states and Puerto Rico. Its product categories include coats, women, men, juniors, girls, boys, shoes, handbags and accessories, beauty and fragrance, home and toys.
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