Analysts Issue Forecasts for Burlington Stores, Inc.’s FY2023 Earnings (NYSE:BURL)

Burlington Stores, Inc. (NYSE:BURLGet Rating) – Telsey Advisory Group boosted 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 expects 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 target 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.

BURL has been the topic of several other reports. Cowen dropped their price objective on Burlington Stores from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Friday, August 26th. Wells Fargo & Company raised their price objective on Burlington Stores from $200.00 to $225.00 in a report on Wednesday. StockNews.com began coverage on Burlington Stores in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. The Goldman Sachs Group raised their price objective on Burlington Stores from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on Burlington Stores from $152.00 to $179.00 in a report on Friday, September 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $217.32.

Burlington Stores Stock Up 3.0 %

Shares of BURL opened at $195.70 on Thursday. The company has a current ratio of 1.20, a quick ratio of 0.42 and a debt-to-equity ratio of 2.32. Burlington Stores has a 12 month low of $106.47 and a 12 month high of $304.17. The stock’s 50 day moving average is $132.79 and its two-hundred day moving average is $147.90. The firm has a market cap of $12.83 billion, a P/E ratio of 78.91 and a beta of 1.00.

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

Hedge Funds Weigh In On Burlington Stores

A number of institutional investors have recently added to or reduced their stakes in BURL. Artisan Partners Limited Partnership lifted its position in 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its position in 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 in the last quarter. Candlestick Capital Management LP purchased a new stake in Burlington Stores in the second quarter valued at $51,600,000. Capital Research Global Investors raised its position in Burlington Stores by 11.4% in the first quarter. Capital Research Global Investors now owns 3,658,689 shares of the company’s stock valued at $666,555,000 after purchasing an additional 374,400 shares during the period. Finally, Macquarie Group Ltd. raised its position in Burlington Stores by 1,873.8% in the second quarter. Macquarie Group Ltd. now owns 331,275 shares of the company’s stock valued at $45,129,000 after purchasing an additional 314,491 shares during the period. Hedge funds and other institutional investors own 99.79% of the company’s stock.

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.

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

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