$1.46 Billion in Sales Expected for Burlington Stores, Inc. (BURL) This Quarter
Equities analysts expect Burlington Stores, Inc. (NYSE:BURL) to report $1.46 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Burlington Stores’ earnings. The highest sales estimate is $1.46 billion and the lowest is $1.44 billion. Burlington Stores posted sales of $1.35 billion in the same quarter last year, which suggests a positive year over year growth rate of 8.1%. The business is scheduled to issue its next quarterly earnings report on Tuesday, November 28th.
According to Zacks, analysts expect that Burlington Stores will report full year sales of $1.46 billion for the current fiscal year, with estimates ranging from $6.03 billion to $6.10 billion. For the next fiscal year, analysts expect that the business will report sales of $6.46 billion per share, with estimates ranging from $6.37 billion to $6.52 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Burlington Stores.
Burlington Stores (NYSE:BURL) last announced its quarterly earnings results on Thursday, August 24th. The company reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.22. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Burlington Stores had a net margin of 4.46% and a negative return on equity of 330.30%. Burlington Stores’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the business earned $0.39 EPS.
Several equities analysts have recently weighed in on BURL shares. BMO Capital Markets set a $115.00 price target on shares of Burlington Stores and gave the stock a “buy” rating in a report on Thursday, June 8th. BidaskClub cut shares of Burlington Stores from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Cowen and Company restated an “outperform” rating and set a $110.00 price target on shares of Burlington Stores in a report on Friday, June 23rd. TheStreet cut shares of Burlington Stores from a “b-” rating to a “c+” rating in a report on Friday, June 23rd. Finally, Credit Suisse Group AG cut shares of Burlington Stores from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $97.00 to $89.00 in a report on Wednesday, August 2nd. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $105.38.
In related news, CEO Thomas Kingsbury sold 20,000 shares of Burlington Stores stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $84.03, for a total value of $1,680,600.00. Following the completion of the transaction, the chief executive officer now directly owns 518,008 shares of the company’s stock, valued at $43,528,212.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joyce Manning Magrini sold 2,400 shares of Burlington Stores stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $94.16, for a total value of $225,984.00. The disclosure for this sale can be found here. Insiders sold 88,857 shares of company stock valued at $7,746,342 over the last ninety days. 2.60% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the business. Clearbridge Investments LLC increased its stake in shares of Burlington Stores by 7,886.9% in the 1st quarter. Clearbridge Investments LLC now owns 248,792 shares of the company’s stock valued at $24,205,000 after acquiring an additional 245,677 shares during the last quarter. Prudential Financial Inc. increased its stake 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 valued at $73,575,000 after acquiring an additional 412,380 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of Burlington Stores by 5.4% in the 1st quarter. Nuveen Asset Management LLC now owns 75,386 shares of the company’s stock valued at $7,334,000 after acquiring an additional 3,886 shares during the last quarter. FMR LLC increased its stake in shares of Burlington Stores by 13.3% in the 1st quarter. FMR LLC now owns 565,678 shares of the company’s stock valued at $55,035,000 after acquiring an additional 66,428 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Burlington Stores in the 1st quarter valued at about $241,000.
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Burlington Stores (NYSE BURL) traded down 1.36% on Friday, reaching $93.10. 477,230 shares of the company’s stock were exchanged. Burlington Stores has a 1-year low of $68.94 and a 1-year high of $104.07. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of 25.72 and a beta of 0.53. The stock’s 50 day moving average price is $89.28 and its 200 day moving average price is $92.29.
Burlington Stores declared that its board has initiated a share buyback plan on Thursday, August 24th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
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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