Burlington Stores, Inc. Earnings Forecast for FY2024 Adjusted Upward by Telsey Advisory Group

Analysts at Telsey Advisory Group have revised their earnings predictions for Burlington Stores, Inc. (NYSE:BURL), a notable retailer in the apparel industry. Following a detailed research note released on Monday, March 4th, lead analyst D. Telsey announced an increase in the FY2024 earnings per share (EPS) forecast from the previous $5.64 to $5.74. Telsey Advisory maintains a positive 'Outperform' stance on Burlington Stores, paired with a robust $225.00 price target, in light of the revised estimates.

Latest Quarterly Performance

Burlington Stores recently reported their earnings for the latest quarter on Thursday, March 7th. Achieving an EPS of $3.30, they surpassed the consensus estimate of $3.25 by $0.05. When compared to the same quarter of the previous year, which saw the company earn $2.96 per share, the new figures reflect a substantial increase. The company has demonstrated a commendable net margin of 3.18% and an impressive return on equity of 42.95%.

Market Analysts' Perspectives

Several other equity research analysts have also weighed in on Burlington Stores' shares. Notable mentions include Citigroup and Morgan Stanley, who have set their price objectives at $215.00 and $182.00, respectively. Piper Sandler upgraded their rating of the shares from 'neutral' to 'overweight' with a price target jump from $155.00 to $240.00. UBS Group rated the company as 'sell' even though they raised their price target from $120.00 to $126.00. Finally, Evercore ISI displayed optimism by increasing their price objective from $220.00 to $235.00. MarketBeat's data indicates a 'Moderate Buy' consensus and an average target price of $209.13.

Stock Performance and Investor Activity

On the trading front, Burlington Stores (NYSE:BURL) opened at $205.89 on Wednesday. The company exhibits a market cap of $13.29 billion, with a P/E ratio of 45.25, signifying robust investor interest. Additionally, there have been significant institutional investments, reflecting in the adjustments in the positions of large investors in the stock.

About Burlington Stores

Burlington Stores, Inc. operates as a branded apparel retailer, offering a variety of products including women's clothing, menswear, children's apparel, footwear, and an assortment of accessories and gifts. The retailer has established a firm hold in the United States market with a diverse product lineup catering to different consumer needs.

Burlington, Earnings, Forecast, Investors, Performance, Retailer, Apparel