B. Riley Comments on Burford Capital Limited’s Q3 2023 Earnings (NYSE:BUR)

Burford Capital Limited (NYSE:BUR) – Equities research analysts at B. Riley boosted their Q3 2023 earnings estimates for shares of Burford Capital in a research report issued on Wednesday, September 13th. B. Riley analyst M. Howlett now anticipates that the company will post earnings of $0.41 per share for the quarter, up from their previous forecast of $0.40. B. Riley currently has a “Buy” rating and a $20.00 target price on the stock. The consensus estimate for Burford Capital’s current full-year earnings is $2.16 per share. B. Riley also issued estimates for Burford Capital’s Q1 2024 earnings at $0.40 EPS, Q2 2024 earnings at $0.43 EPS, Q3 2024 earnings at $0.50 EPS, Q4 2024 earnings at $0.55 EPS, Q1 2025 earnings at $0.49 EPS, Q2 2025 earnings at $0.54 EPS and FY2025 earnings at $2.24 EPS.

BUR has been the topic of a number of other research reports. StockNews.com initiated coverage on shares of Burford Capital in a research report on Wednesday, August 23rd. They issued a “hold” rating on the stock. Berenberg Bank began coverage on shares of Burford Capital in a research report on Thursday, June 22nd. They set a “buy” rating for the company.

Burford Capital Stock Performance

Burford Capital stock opened at $15.43 on Friday. Burford Capital has a 1-year low of $6.09 and a 1-year high of $17.70. The firm’s fifty day simple moving average is $13.54 and its 200-day simple moving average is $12.98. The company has a debt-to-equity ratio of 0.48, a quick ratio of 6.31 and a current ratio of 6.31.

Burford Capital (NYSE:BUR) last posted its quarterly earnings results on Wednesday, September 13th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.42). The firm had revenue of $44.55 million during the quarter, compared to the consensus estimate of $134.00 million.

Institutional Trading of Burford Capital

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in shares of Burford Capital by 97.6% during the first quarter. JPMorgan Chase & Co. now owns 40,734 shares of the company’s stock valued at $374,000 after purchasing an additional 20,117 shares during the period. Citigroup Inc. grew its holdings in shares of Burford Capital by 273,700.0% in the 1st quarter. Citigroup Inc. now owns 2,738 shares of the company’s stock worth $25,000 after purchasing an additional 2,737 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Burford Capital by 2.7% during the 1st quarter. Federated Hermes Inc. now owns 1,040,084 shares of the company’s stock worth $9,558,000 after purchasing an additional 27,034 shares in the last quarter. Bandera Partners LLC lifted its holdings in Burford Capital by 2.4% during the 1st quarter. Bandera Partners LLC now owns 843,843 shares of the company’s stock valued at $7,755,000 after purchasing an additional 19,978 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Burford Capital by 162.7% in the first quarter. Renaissance Technologies LLC now owns 228,300 shares of the company’s stock valued at $2,098,000 after buying an additional 141,400 shares in the last quarter.

Burford Capital Announces Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, December 7th. Investors of record on Friday, November 10th will be given a dividend of $0.0625 per share. This represents a yield of 1.6%. The ex-dividend date is Thursday, November 9th.

About Burford Capital

Burford Capital Limited, through its subsidiaries, provides legal finance products and services worldwide. The company operates through two segments, Capital Provision, and Asset Management and Other Provision. The Capital Provision segment provides capital to the legal industry or in connection with legal matters directly and through investment in private funds.