Q3 2023 EPS Estimates for Burford Capital Limited (NYSE:BUR) Cut by Analyst

Burford Capital Limited (NYSE:BUR) – Investment analysts at Wedbush dropped their Q3 2023 earnings per share estimates for shares of Burford Capital in a research note issued to investors on Thursday, September 14th. Wedbush analyst D. Chiaverini now forecasts that the company will post earnings of $0.31 per share for the quarter, down from their previous forecast of $0.35. The consensus estimate for Burford Capital’s current full-year earnings is $2.16 per share. Wedbush also issued estimates for Burford Capital’s Q4 2023 earnings at $0.31 EPS, Q3 2024 earnings at $0.58 EPS, Q4 2024 earnings at $0.59 EPS, FY2024 earnings at $2.10 EPS, Q1 2025 earnings at $0.54 EPS, Q2 2025 earnings at $0.58 EPS and FY2025 earnings at $2.35 EPS.

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

Other research analysts have also issued reports about the stock. B. Riley upped their target price on shares of Burford Capital from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, September 11th. StockNews.com began coverage on shares of Burford Capital in a report on Wednesday, August 23rd. They issued a “hold” rating on the stock. Finally, Berenberg Bank began coverage on shares of Burford Capital in a report on Thursday, June 22nd. They issued a “buy” rating on the stock.

Burford Capital Stock Performance

NYSE:BUR opened at $14.85 on Friday. The stock has a fifty day simple moving average of $13.59 and a 200-day simple moving average of $13.03. Burford Capital has a 52-week low of $6.09 and a 52-week high of $17.70. The company has a quick ratio of 6.31, a current ratio of 6.31 and a debt-to-equity ratio of 0.48.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BUR. Citigroup Inc. lifted its holdings in shares of Burford Capital by 273,700.0% during the 1st quarter. Citigroup Inc. now owns 2,738 shares of the company’s stock worth $25,000 after acquiring an additional 2,737 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Burford Capital during the 2nd quarter worth about $31,000. Covestor Ltd purchased a new position in shares of Burford Capital during the 2nd quarter worth about $50,000. Trivant Custom Portfolio Group LLC purchased a new position in shares of Burford Capital during the 1st quarter worth about $55,000. Finally, Clear Street Markets LLC purchased a new position in shares of Burford Capital during the 1st quarter worth about $99,000.

Burford Capital Announces Dividend

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

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.