Encore Capital Group (NASDAQ:ECPG) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Encore Capital Group (NASDAQ:ECPG) from a buy rating to a hold rating in a research report sent to investors on Friday.

Several other analysts have also commented on ECPG. Truist Financial decreased their price objective on Encore Capital Group from $64.00 to $57.00 and set a “buy” rating for the company in a report on Thursday. JMP Securities upped their target price on Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. Finally, Northland Securities upped their target price on Encore Capital Group from $58.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $62.67.

Encore Capital Group Stock Down 3.2 %

Encore Capital Group stock opened at $37.72 on Friday. The business has a fifty day moving average of $48.36 and a two-hundred day moving average of $47.97. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.39. The firm has a market cap of $893.62 million, a P/E ratio of -4.81 and a beta of 1.55. Encore Capital Group has a twelve month low of $35.38 and a twelve month high of $51.77.

Encore Capital Group (NASDAQ:ECPG) last posted its earnings results on Wednesday, February 26th. The asset manager reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.05). Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The company had revenue of $265.62 million for the quarter, compared to analysts’ expectations of $373.40 million. On average, analysts forecast that Encore Capital Group will post 5.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Encore Capital Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp acquired a new stake in Encore Capital Group during the 4th quarter worth about $322,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Encore Capital Group by 31.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,793 shares of the asset manager’s stock worth $3,477,000 after purchasing an additional 17,470 shares during the period. Voloridge Investment Management LLC acquired a new stake in Encore Capital Group during the 4th quarter worth about $1,713,000. Squarepoint Ops LLC grew its position in Encore Capital Group by 64.5% during the 4th quarter. Squarepoint Ops LLC now owns 42,095 shares of the asset manager’s stock worth $2,011,000 after purchasing an additional 16,507 shares during the period. Finally, Two Sigma Advisers LP grew its position in Encore Capital Group by 75.4% during the 4th quarter. Two Sigma Advisers LP now owns 87,000 shares of the asset manager’s stock worth $4,156,000 after purchasing an additional 37,400 shares during the period.

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.