Encore Capital Group (NASDAQ:ECPG) Announces Quarterly Earnings Results

Encore Capital Group (NASDAQ:ECPG) announced its earnings results on Wednesday. The asset manager reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.21), Briefing.com reports. Encore Capital Group had a negative net margin of 15.43% and a positive return on equity of 11.12%. The firm had revenue of $367.07 million during the quarter, compared to analysts’ expectations of $360.70 million. During the same period in the prior year, the company posted $0.79 EPS. The company’s revenue was up 18.6% compared to the same quarter last year.

Encore Capital Group Stock Up 0.1 %

ECPG stock traded up $0.03 during trading on Thursday, hitting $49.80. 370,799 shares of the company’s stock traded hands, compared to its average volume of 149,620. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 3.50. The firm has a market capitalization of $1.18 billion, a P/E ratio of -5.96 and a beta of 1.56. The business has a fifty day simple moving average of $46.67 and a two-hundred day simple moving average of $45.60. Encore Capital Group has a 1 year low of $39.64 and a 1 year high of $54.55.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Northland Capmk raised shares of Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Truist Financial reduced their target price on shares of Encore Capital Group from $70.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Northland Securities raised shares of Encore Capital Group from a “market perform” rating to an “outperform” rating and increased their target price for the company from $55.00 to $58.00 in a research note on Thursday, October 17th. Finally, JMP Securities increased their target price on shares of Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research note on Thursday. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Encore Capital Group presently has an average rating of “Buy” and a consensus target price of $62.33.

Encore Capital Group Company Profile

Encore Capital Group, Inc, a specialty finance company, provides debt recovery solutions and other related services for consumers across 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.