Burlington Stores (NYSE:BURL) Updates Q3 2022 Earnings Guidance

Burlington Stores (NYSE:BURLGet Rating) updated its third quarter 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.36-$0.66 for the period, compared to the consensus earnings per share estimate of $1.39. The company issued revenue guidance of -. Burlington Stores also updated its FY 2022 guidance to $3.70-$4.30 EPS.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. UBS Group dropped their price objective on shares of Burlington Stores from $189.00 to $140.00 and set a neutral rating on the stock in a research report on Friday, July 15th. Citigroup dropped their target price on shares of Burlington Stores from $292.00 to $220.00 and set a buy rating on the stock in a research report on Tuesday, May 31st. Morgan Stanley dropped their target price on shares of Burlington Stores from $232.00 to $167.00 and set an overweight rating on the stock in a research report on Friday, August 26th. Loop Capital dropped their target price on shares of Burlington Stores from $135.00 to $120.00 and set a sell rating on the stock in a research report on Friday, July 8th. Finally, Credit Suisse Group dropped their target price on shares of Burlington Stores to $215.00 in a research report on Friday, May 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Burlington Stores has a consensus rating of Moderate Buy and an average target price of $205.32.

Burlington Stores Price Performance

Shares of NYSE BURL traded down $4.47 during midday trading on Friday, hitting $118.43. The company had a trading volume of 15,360 shares, compared to its average volume of 1,224,272. The company has a quick ratio of 0.42, a current ratio of 1.20 and a debt-to-equity ratio of 2.32. Burlington Stores has a twelve month low of $122.82 and a twelve month high of $314.71. The business has a 50-day simple moving average of $149.17 and a two-hundred day simple moving average of $168.79. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 50.79 and a beta of 0.83.

Burlington Stores (NYSE:BURLGet Rating) last announced its quarterly earnings data on Thursday, August 25th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.23 by $0.12. Burlington Stores had a net margin of 1.85% and a return on equity of 45.72%. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the business earned $1.94 earnings per share. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. Equities research analysts anticipate that Burlington Stores will post 4.02 earnings per share for the current year.

Hedge Funds Weigh In On Burlington Stores

Hedge funds have recently added to or reduced their stakes in the business. Salem Investment Counselors Inc. increased its holdings in Burlington Stores by 58.2% during the 2nd quarter. Salem Investment Counselors Inc. now owns 193 shares of the company’s stock valued at $26,000 after acquiring an additional 71 shares in the last quarter. KB Financial Partners LLC grew its holdings in shares of Burlington Stores by 68.8% during the first quarter. KB Financial Partners LLC now owns 238 shares of the company’s stock worth $43,000 after buying an additional 97 shares in the last quarter. Covestor Ltd grew its holdings in shares of Burlington Stores by 98.8% during the first quarter. Covestor Ltd now owns 491 shares of the company’s stock worth $90,000 after buying an additional 244 shares in the last quarter. Prudential PLC purchased a new stake in shares of Burlington Stores during the first quarter worth about $218,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Burlington Stores during the first quarter worth about $246,000. 99.79% of the stock is currently owned by hedge funds and other institutional investors.

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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