BidaskClub lowered shares of Encore Capital Group Inc (NASDAQ:ECPG) from a buy rating to a hold rating in a research report released on Tuesday, August 1st.
Several other brokerages have also issued reports on ECPG. Zacks Investment Research upgraded Encore Capital Group from a sell rating to a hold rating and set a $42.00 price objective for the company in a research report on Thursday, May 11th. Keefe, Bruyette & Woods assumed coverage on Encore Capital Group in a research report on Wednesday, May 24th. They issued an outperform rating and a $45.00 price objective for the company. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $37.58.
Encore Capital Group (ECPG) traded down 2.31% during mid-day trading on Tuesday, reaching $40.10. 366,204 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $40.51 and a 200-day moving average price of $35.48. Encore Capital Group has a 52 week low of $17.66 and a 52 week high of $43.65. The stock has a market cap of $1.03 billion, a P/E ratio of 16.43 and a beta of 1.76.
Encore Capital Group (NASDAQ:ECPG) last posted its earnings results on Thursday, August 3rd. The asset manager reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.05. The company had revenue of $290.92 million during the quarter, compared to analyst estimates of $275.18 million. Encore Capital Group had a return on equity of 12.38% and a net margin of 6.28%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.29 EPS. On average, analysts forecast that Encore Capital Group will post $3.69 earnings per share for the current year.
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Several institutional investors have recently modified their holdings of the stock. Karp Capital Management Corp acquired a new position in shares of Encore Capital Group during the first quarter valued at about $409,000. UBS Asset Management Americas Inc. acquired a new position in shares of Encore Capital Group during the first quarter valued at about $212,000. Comerica Bank boosted its stake in Encore Capital Group by 3.8% in the first quarter. Comerica Bank now owns 26,007 shares of the asset manager’s stock valued at $863,000 after buying an additional 945 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in Encore Capital Group by 9.5% in the first quarter. Great West Life Assurance Co. Can now owns 33,344 shares of the asset manager’s stock valued at $1,025,000 after buying an additional 2,904 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in Encore Capital Group during the first quarter valued at approximately $232,000.
Encore Capital Group Company Profile
Encore Capital Group, Inc, through its subsidiaries, is a specialty finance company providing debt recovery solutions for consumers and property owners across a range of financial assets. The Company operates through Portfolio Purchasing and Recovery segment. The Company’s geographical segments include the United States, Europe and other.
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