Citi expects Burlington Stores Inc
- Burlington Stores Q3 EPS $0.51 vs $0.33 Est, Revenue $1.34B vs $1.32B Est
- Burlington Stores Sees Q4 EPS $1.63 to $1.67 vs $1.69 Est
The brokerage projects another blow-out quarter from the company for the three-month period ending January. Citi’s call comes amid “what may seem like unimpressive guidance for 4Q.”
The company is targeting EPS growth of 16-18 percent in 2017, including wage pressures.
“Mgmt is typically conservative with its comp guidance, but more importantly we believe GM will be the source of upside again in 4Q, especially considering the improvements we have seen versus two years ago in each of the preceding qtrs,” analyst Paul Lejuez wrote in a note.
The strong third quarter results revived the shares, which has been weak after Spruce Point Capital Management published a short thesis
Lejuez raised his F16/F17 estimate to $3.34/$3.99 from $3.06/$3.66 and sees fourth quarter comps of +4-5 percent, op margin of 13.1 percent (+190bps), and EPS of $1.88. The analyst, who has a Neutral rating on the stock, also raised his target price to $94 from $87.
|Sep 2016||Guggenheim||Initiates Coverage on||Neutral|
|Aug 2016||MKM Partners||Upgrades||Neutral||Buy|
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