Burford Capital (NYSE:BUR) Announces Quarterly Earnings Results

by · The Cerbat Gem

Burford Capital (NYSE:BUR – Get Free Report) posted its earnings results on Wednesday. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.39), Zacks reports. Burford Capital had a return on equity of 7.48% and a net margin of 37.08%.The company had revenue of $174.85 million for the quarter, compared to analyst estimates of $136.03 million.

Burford Capital Stock Performance

BUR traded down $0.15 during midday trading on Friday, reaching $8.91. The company had a trading volume of 3,044,384 shares, compared to its average volume of 1,521,005. The company has a debt-to-equity ratio of 0.55, a quick ratio of 10.09 and a current ratio of 10.09. The business has a 50-day moving average price of $11.72 and a two-hundred day moving average price of $12.79. Burford Capital has a 12-month low of $8.76 and a 12-month high of $15.73. The stock has a market cap of $1.95 billion, a PE ratio of 8.25 and a beta of 0.56.

Burford Capital Dividend Announcement

The business also recently announced a semi-annual dividend, which will be paid on Thursday, December 4th. Shareholders of record on Friday, October 31st will be paid a $0.0625 dividend. This represents a yield of 125.0%. The ex-dividend date is Friday, October 31st. Burford Capital’s payout ratio is presently 31.58%.

Hedge Funds Weigh In On Burford Capital

Several large investors have recently modified their holdings of the business. Strs Ohio purchased a new stake in shares of Burford Capital during the first quarter worth $55,000. BNP Paribas Financial Markets increased its position in shares of Burford Capital by 53.6% in the second quarter. BNP Paribas Financial Markets now owns 18,127 shares of the company’s stock worth $258,000 after purchasing an additional 6,326 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Burford Capital in the 2nd quarter worth $277,000. Tower Research Capital LLC TRC increased its stake in Burford Capital by 270.0% in the second quarter. Tower Research Capital LLC TRC now owns 33,382 shares of the company’s stock valued at $476,000 after acquiring an additional 24,361 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Burford Capital by 40.2% during the 2nd quarter. Cerity Partners LLC now owns 36,764 shares of the company’s stock valued at $524,000 after buying an additional 10,541 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wedbush reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of Burford Capital in a report on Thursday, August 14th. B. Riley raised Burford Capital to a “strong-buy” rating in a research note on Thursday, October 16th. Weiss Ratings cut Burford Capital from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. Finally, Wall Street Zen downgraded Burford Capital from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $18.00.

View Our Latest Report on Burford Capital

About Burford Capital

(Get Free Report)

Burford Capital Limited 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; legal risk management services; lower risk legal finance business focusing on pre-settlement litigation matters with lower risk and lower expected returns; post-settlement finance; and complex strategies in which it acts as a principal and acquires assets that are mispriced.

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