Wall Street analysts forecast that Burlington Stores, Inc. (NYSE:BURL) will post sales of $1.89 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Burlington Stores’ earnings. The highest sales estimate is $1.90 billion and the lowest is $1.86 billion. Burlington Stores reported sales of $1.69 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.8%. The company is expected to announce its next quarterly earnings results on Thursday, March 1st.
On average, analysts expect that Burlington Stores will report full-year sales of $1.89 billion for the current year, with estimates ranging from $6.01 billion to $6.06 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $6.43 billion per share, with estimates ranging from $6.31 billion to $6.58 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Burlington Stores.
Burlington Stores (NYSE:BURL) last released its quarterly earnings results on Tuesday, November 21st. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Burlington Stores had a negative return on equity of 374.86% and a net margin of 4.61%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 EPS.
A number of brokerages have commented on BURL. Morgan Stanley reiterated an “overweight” rating and set a $107.00 target price (up previously from $105.00) on shares of Burlington Stores in a report on Friday, August 25th. BMO Capital Markets reiterated a “buy” rating and set a $115.00 target price on shares of Burlington Stores in a report on Wednesday, September 13th. Deutsche Bank began coverage on Burlington Stores in a report on Thursday, September 14th. They set a “buy” rating and a $108.00 target price on the stock. BidaskClub cut Burlington Stores from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Finally, SunTrust Banks set a $109.00 target price on Burlington Stores and gave the company a “buy” rating in a report on Monday, October 16th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $110.49.
Burlington Stores (NYSE:BURL) traded up $2.12 on Wednesday, hitting $117.94. The company had a trading volume of 1,210,500 shares, compared to its average volume of 1,086,027. The firm has a market cap of $8,050.00, a PE ratio of 29.47, a P/E/G ratio of 1.55 and a beta of 0.56. The company has a current ratio of 1.02, a quick ratio of 0.22 and a debt-to-equity ratio of -11.71. Burlington Stores has a 1-year low of $79.07 and a 1-year high of $118.19.
Burlington Stores announced that its board has initiated a stock repurchase program on Thursday, August 24th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, CEO Thomas Kingsbury sold 20,000 shares of the firm’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $92.29, for a total transaction of $1,845,800.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Fred Hand sold 6,000 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $102.50, for a total value of $615,000.00. Following the sale, the insider now owns 71,810 shares in the company, valued at approximately $7,360,525. The disclosure for this sale can be found here. Insiders have sold 87,701 shares of company stock worth $8,870,690 in the last 90 days. Insiders own 2.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Balyasny Asset Management LLC raised its position in shares of Burlington Stores by 123.3% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,408,518 shares of the company’s stock worth $129,570,000 after buying an additional 777,645 shares during the period. Voya Investment Management LLC raised its position in shares of Burlington Stores by 23.9% in the 2nd quarter. Voya Investment Management LLC now owns 2,879,622 shares of the company’s stock worth $264,896,000 after buying an additional 554,717 shares during the period. Samlyn Capital LLC raised its position in shares of Burlington Stores by 89.1% in the 2nd quarter. Samlyn Capital LLC now owns 968,713 shares of the company’s stock worth $89,112,000 after buying an additional 456,305 shares during the period. Prudential Financial Inc. raised its position in shares of Burlington Stores by 106.4% in the 2nd quarter. Prudential Financial Inc. now owns 799,810 shares of the company’s stock worth $73,575,000 after buying an additional 412,380 shares during the period. Finally, Old Mutual Global Investors UK Ltd. raised its position in shares of 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 during the period.
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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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