Burlington Stores, Inc. Expected to Post FY2023 Earnings of $4.06 Per Share (NYSE:BURL)

Burlington Stores, Inc. (NYSE:BURLGet Rating) – Analysts at Telsey Advisory Group raised their FY2023 earnings per share (EPS) estimates for Burlington Stores in a research report issued to clients and investors on Wednesday, November 23rd. Telsey Advisory Group analyst D. Telsey now forecasts that the company will post earnings per share of $4.06 for the year, up from their previous forecast of $4.02. Telsey Advisory Group has a “Outperform” rating and a $225.00 price objective on the stock. The consensus estimate for Burlington Stores’ current full-year earnings is $3.98 per share. Telsey Advisory Group also issued estimates for Burlington Stores’ Q4 2023 earnings at $2.75 EPS, Q1 2024 earnings at $1.16 EPS, Q2 2024 earnings at $0.85 EPS, Q3 2024 earnings at $0.94 EPS, Q4 2024 earnings at $3.19 EPS and FY2024 earnings at $6.15 EPS.

Burlington Stores (NYSE:BURLGet Rating) last announced its earnings results on Thursday, August 25th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. Burlington Stores had a return on equity of 36.71% and a net margin of 1.94%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company earned $1.94 earnings per share. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year.

Other analysts have also issued reports about the company. The Goldman Sachs Group lifted their target price on Burlington Stores from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday. William Blair assumed coverage on Burlington Stores in a research report on Friday, August 26th. They set an “outperform” rating on the stock. Robert W. Baird lifted their target price on Burlington Stores from $200.00 to $240.00 in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on Burlington Stores from $152.00 to $179.00 in a research report on Friday, September 16th. Finally, Morgan Stanley boosted their price objective on Burlington Stores from $175.00 to $219.00 and gave the company an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.89.

Burlington Stores Stock Up 3.0 %

Shares of NYSE BURL opened at $195.70 on Thursday. Burlington Stores has a 1 year low of $106.47 and a 1 year high of $304.17. The firm has a market cap of $12.83 billion, a price-to-earnings ratio of 78.91 and a beta of 1.00. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.42 and a current ratio of 1.20. The stock’s 50-day simple moving average is $133.92 and its 200-day simple moving average is $148.23.

Hedge Funds Weigh In On Burlington Stores

Several hedge funds and other institutional investors have recently made changes to their positions in BURL. Artisan Partners Limited Partnership boosted its position in shares of Burlington Stores by 17.1% during the second quarter. Artisan Partners Limited Partnership now owns 3,408,490 shares of the company’s stock worth $464,339,000 after buying an additional 498,591 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Burlington Stores by 5.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 9,712,590 shares of the company’s stock worth $1,323,146,000 after buying an additional 491,363 shares during the period. Candlestick Capital Management LP acquired a new position in shares of Burlington Stores during the second quarter worth approximately $51,600,000. Capital Research Global Investors boosted its position in shares of Burlington Stores by 11.4% during the first quarter. Capital Research Global Investors now owns 3,658,689 shares of the company’s stock worth $666,555,000 after buying an additional 374,400 shares during the period. Finally, Macquarie Group Ltd. boosted its position in shares of Burlington Stores by 1,873.8% during the second quarter. Macquarie Group Ltd. now owns 331,275 shares of the company’s stock worth $45,129,000 after buying an additional 314,491 shares during the period. 99.79% of the stock is currently owned by institutional investors and hedge funds.

About Burlington Stores

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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.

Further Reading

Earnings History and Estimates for Burlington Stores (NYSE:BURL)

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