Burford Capital (NYSE:BUR) Releases Quarterly Earnings Results

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

Burford Capital Price Performance

NYSE:BUR traded down $0.15 during trading hours on Friday, reaching $8.91. 3,044,384 shares of the company were exchanged, compared to its average volume of 1,521,005. The company has a current ratio of 10.09, a quick ratio of 10.09 and a debt-to-equity ratio of 0.55. The firm has a market cap of $1.95 billion, a PE ratio of 8.25 and a beta of 0.56. Burford Capital has a twelve month low of $8.76 and a twelve month high of $15.73. The stock’s 50-day moving average is $11.62 and its 200-day moving average is $12.76.

Burford Capital Dividend Announcement

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

Wall Street Analyst Weigh In

BUR has been the subject of several recent research reports. B. Riley upgraded shares of Burford Capital to a “strong-buy” rating in a research report on Thursday, October 16th. Wedbush reaffirmed an “outperform” rating and set a $18.00 target price on shares of Burford Capital in a report on Thursday, August 14th. Weiss Ratings cut Burford Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. Finally, Wall Street Zen downgraded shares of Burford Capital from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $18.00.

Institutional Investors Weigh In On Burford Capital

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

Burford Capital Company Profile

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.