Burford Capital Limited Expected to Post FY2023 Earnings of $2.15 Per Share (NYSE:BUR)

Posted by Defense World Staff on Jun 17th, 2023

Burford Capital Limited (NYSE:BUR – Get Rating) – Equities research analysts at Wedbush increased their FY2023 EPS estimates for Burford Capital in a research note issued to investors on Tuesday, June 13th. Wedbush analyst D. Chiaverini now anticipates that the company will post earnings per share of $2.15 for the year, up from their previous estimate of $1.25. Wedbush has a “Outperform” rating and a $17.00 price target on the stock. The consensus estimate for Burford Capital’s current full-year earnings is $1.57 per share. Wedbush also issued estimates for Burford Capital’s Q4 2023 earnings at $0.34 EPS.

Burford Capital (NYSE:BUR – Get Rating) last issued its quarterly earnings results on Tuesday, June 13th. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.91. The business had revenue of $380.91 million for the quarter, compared to analysts’ expectations of $113.70 million.

Separately, StockNews.com assumed coverage on shares of Burford Capital in a report on Thursday, May 25th. They issued a “hold” rating on the stock.

Burford Capital Stock Performance

BUR opened at $12.67 on Friday. The firm’s fifty day moving average is $13.34 and its 200 day moving average is $10.66. Burford Capital has a fifty-two week low of $6.09 and a fifty-two week high of $14.04.

Hedge Funds Weigh In On Burford Capital

Hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. lifted its position 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 period. Trivant Custom Portfolio Group LLC acquired a new stake in shares of Burford Capital in the first quarter worth $55,000. Clear Street Markets LLC acquired a new stake in shares of Burford Capital in the first quarter worth $99,000. Jane Street Group LLC acquired a new stake in shares of Burford Capital in the fourth quarter worth $105,000. Finally, Guardian Wealth Management Inc. boosted its holdings in Burford Capital by 64.5% during the fourth quarter. Guardian Wealth Management Inc. now owns 13,205 shares of the company’s stock worth $108,000 after buying an additional 5,180 shares in the last quarter.

About Burford Capital

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Burford Capital Ltd. engages in the provision of legal finance products and services comprising core legal finance and alternative strategies, and in the asset management business. It operates through following segments: Capital Provision, Asset Management and Other Services, and Other Corporate. The Capital Provision segment provides capital to the legal industry or in connection with legal matters, both directly and through investment in the Group’s private funds.