Encore Capital Group (NASDAQ:ECPG) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Encore Capital Group (NASDAQ:ECPG) from a hold rating to a buy rating in a research note issued to investors on Tuesday.

Other equities analysts have also issued research reports about the stock. 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 report on Tuesday, August 20th. JMP Securities raised their price objective on Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. Northland Capmk upgraded Encore Capital Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Northland Securities upgraded 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 report on Thursday, October 17th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $62.33.

Encore Capital Group Trading Down 2.4 %

NASDAQ ECPG opened at $48.80 on Tuesday. The stock’s 50-day simple moving average is $46.68 and its two-hundred day simple moving average is $45.83. Encore Capital Group has a twelve month low of $39.64 and a twelve month high of $54.55. The company has a quick ratio of 1.27, a current ratio of 1.11 and a debt-to-equity ratio of 3.39. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -6.22 and a beta of 1.56.

Encore Capital Group (NASDAQ:ECPG) last released its earnings results on Wednesday, November 6th. The asset manager reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.22). Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The firm had revenue of $367.07 million during the quarter, compared to the consensus estimate of $360.70 million. During the same quarter in the previous year, the firm earned $0.79 EPS. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. Research analysts forecast that Encore Capital Group will post 5.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Encore Capital Group

A number of hedge funds have recently modified their holdings of ECPG. Sei Investments Co. increased its holdings in Encore Capital Group by 38.4% during the 1st quarter. Sei Investments Co. now owns 64,114 shares of the asset manager’s stock valued at $2,924,000 after purchasing an additional 17,799 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Encore Capital Group by 30.4% during the first quarter. Russell Investments Group Ltd. now owns 48,390 shares of the asset manager’s stock valued at $2,207,000 after buying an additional 11,276 shares during the period. ProShare Advisors LLC raised its holdings in shares of Encore Capital Group by 7.4% during the first quarter. ProShare Advisors LLC now owns 4,692 shares of the asset manager’s stock valued at $214,000 after acquiring an additional 323 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Encore Capital Group by 20.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 7,973 shares of the asset manager’s stock worth $402,000 after acquiring an additional 1,340 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in Encore Capital Group by 17.8% in the first quarter. Clearbridge Investments LLC now owns 394,786 shares of the asset manager’s stock valued at $18,006,000 after acquiring an additional 59,624 shares in the last quarter.

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.