Encore Capital Group Inc (ECPG) Rating Lowered to Hold at BidaskClub

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.

Analyst Recommendations for Encore Capital Group (NASDAQ:ECPG)

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