Burford Capital (NYSE:BUR) Releases Earnings Results, Misses Estimates By $0.42 EPS

Burford Capital (NYSE:BUR) issued its quarterly earnings results on Wednesday. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.42), MarketWatch Earnings reports. The firm had revenue of $44.55 million during the quarter, compared to analyst estimates of $134.00 million.

Burford Capital Trading Down 2.2 %

Burford Capital stock traded down $0.34 during trading hours on Friday, hitting $15.11. The stock had a trading volume of 100,881 shares, compared to its average volume of 687,156. The company has a 50-day moving average of $13.54 and a two-hundred day moving average of $12.98. The company has a current ratio of 6.31, a quick ratio of 6.31 and a debt-to-equity ratio of 0.48. Burford Capital has a fifty-two week low of $6.09 and a fifty-two week high of $17.70.

Burford Capital Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, November 9th. This represents a dividend yield of 1.6%.

Wall Street Analyst Weigh In

A number of brokerages have commented on BUR. Berenberg Bank began coverage on Burford Capital in a research note on Thursday, June 22nd. They issued a “buy” rating on the stock. StockNews.com began coverage on Burford Capital in a research note on Wednesday, August 23rd. They issued a “hold” rating on the stock. Finally, B. Riley boosted their target price on Burford Capital from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday.

Hedge Funds Weigh In On Burford Capital

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Burford Capital by 97.6% in the 1st 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 stake 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 valued at $25,000 after purchasing an additional 2,737 shares during the period. Federated Hermes Inc. grew its stake in shares of Burford Capital by 2.7% in the 1st quarter. Federated Hermes Inc. now owns 1,040,084 shares of the company’s stock valued at $9,558,000 after purchasing an additional 27,034 shares during the period. Bandera Partners LLC grew its stake in shares of Burford Capital by 2.4% in 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 period. Finally, Renaissance Technologies LLC grew its stake in shares of Burford Capital by 162.7% in the 1st quarter. Renaissance Technologies LLC now owns 228,300 shares of the company’s stock valued at $2,098,000 after purchasing an additional 141,400 shares during the period.

Burford Capital Company Profile

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.