Encore Capital Group (NASDAQ:ECPG) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, March 17th.
A number of other equities analysts have also recently commented on ECPG. Janney Montgomery Scott reiterated a “hold” rating on shares of Encore Capital Group in a report on Saturday, November 18th. ValuEngine upgraded Encore Capital Group from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Oppenheimer assumed coverage on Encore Capital Group in a report on Monday, January 8th. They set a “buy” rating and a $53.00 price objective for the company. Finally, Zacks Investment Research cut Encore Capital Group from a “hold” rating to a “sell” rating in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Encore Capital Group presently has a consensus rating of “Buy” and a consensus target price of $50.90.
Shares of ECPG traded down $0.20 during midday trading on Friday, hitting $44.60. The stock had a trading volume of 203,811 shares, compared to its average volume of 181,552. Encore Capital Group has a twelve month low of $30.10 and a twelve month high of $52.00. The company has a market capitalization of $1,150.86, a price-to-earnings ratio of 11.12, a P/E/G ratio of 0.73 and a beta of 1.62. The company has a debt-to-equity ratio of 6.03, a current ratio of 0.74 and a quick ratio of 0.74.
Encore Capital Group (NASDAQ:ECPG) last announced its quarterly earnings data on Wednesday, February 21st. The asset manager reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.11. The company had revenue of $317.48 million during the quarter, compared to analysts’ expectations of $297.72 million. Encore Capital Group had a return on equity of 18.70% and a net margin of 7.01%. Encore Capital Group’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS. sell-side analysts anticipate that Encore Capital Group will post 4.68 earnings per share for the current fiscal year.
In other news, insider Paul Grinberg sold 18,773 shares of Encore Capital Group stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $41.88, for a total value of $786,213.24. Following the completion of the sale, the insider now directly owns 200,518 shares in the company, valued at $8,397,693.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 8.80% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Hennessy Advisors Inc. acquired a new position in Encore Capital Group during the fourth quarter valued at approximately $26,527,000. Employees Retirement System of Texas acquired a new position in Encore Capital Group during the fourth quarter valued at approximately $1,095,000. Arizona State Retirement System raised its position in Encore Capital Group by 224.8% during the fourth quarter. Arizona State Retirement System now owns 39,809 shares of the asset manager’s stock valued at $1,676,000 after purchasing an additional 27,552 shares in the last quarter. EJF Capital LLC acquired a new position in Encore Capital Group during the third quarter valued at approximately $2,437,000. Finally, Swiss National Bank raised its position in Encore Capital Group by 7.0% during the fourth quarter. Swiss National Bank now owns 42,800 shares of the asset manager’s stock valued at $1,802,000 after purchasing an additional 2,800 shares in the last quarter.
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Encore Capital Group Company Profile
Encore Capital Group, Inc, a specialty finance company, together with its subsidiaries, provides debt recovery solutions and other related services for consumers across a range of financial assets worldwide. The company purchases portfolios of defaulted consumer receivables at deep discounts to face value, as well as manages them by working with individuals as they repay their obligations and works toward financial recovery.
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