Encore Capital Group, Inc. (NASDAQ:ECPG) Given Average Recommendation of “Buy” by Brokerages

Shares of Encore Capital Group, Inc. (NASDAQ:ECPG) have been assigned an average recommendation of “Buy” from the four research firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $65.00.

Several research analysts recently issued reports on ECPG shares. JMP Securities upped their price target on shares of Encore Capital Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. StockNews.com raised shares of Encore Capital Group from a “hold” rating to a “buy” rating in a research note on Friday, November 29th. Northland Capmk upgraded shares of Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Northland Securities increased their price objective 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.

Encore Capital Group Price Performance

Shares of Encore Capital Group stock opened at $46.80 on Wednesday. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -5.96 and a beta of 1.55. The firm’s 50-day moving average price is $48.30 and its two-hundred day moving average price is $47.21. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.39. Encore Capital Group has a 1-year low of $39.64 and a 1-year high of $54.55.

Encore Capital Group (NASDAQ:ECPG) last released its quarterly 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). The business had revenue of $367.07 million for the quarter, compared to analyst estimates of $360.70 million. Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 12.70%. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.79 earnings per share. On average, equities analysts predict that Encore Capital Group will post 5.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Laura Olle sold 1,340 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $49.16, for a total value of $65,874.40. Following the completion of the sale, the director now owns 32,381 shares in the company, valued at approximately $1,591,849.96. This represents a 3.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Encore Capital Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ECPG. Verition Fund Management LLC raised its position in shares of Encore Capital Group by 4.3% in the 3rd quarter. Verition Fund Management LLC now owns 8,828 shares of the asset manager’s stock valued at $417,000 after acquiring an additional 364 shares during the period. Victory Capital Management Inc. raised its holdings in Encore Capital Group by 8.8% in the second quarter. Victory Capital Management Inc. now owns 4,980 shares of the asset manager’s stock worth $208,000 after purchasing an additional 403 shares during the period. KBC Group NV boosted its position in shares of Encore Capital Group by 54.9% during the third quarter. KBC Group NV now owns 1,365 shares of the asset manager’s stock worth $65,000 after purchasing an additional 484 shares in the last quarter. Huntington National Bank grew its holdings in shares of Encore Capital Group by 8,700.0% in the 3rd quarter. Huntington National Bank now owns 528 shares of the asset manager’s stock valued at $25,000 after buying an additional 522 shares during the period. Finally, Inspire Investing LLC increased its position in shares of Encore Capital Group by 9.8% in the 2nd quarter. Inspire Investing LLC now owns 8,536 shares of the asset manager’s stock valued at $356,000 after buying an additional 759 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.