Encore Capital Group Downgraded by Zacks to “Neutral” (ECPG)
Encore Capital Group (NASDAQ:ECPG) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, AR Network reports. They currently have a $51.30 price target on the stock. Zacks‘ price target would indicate a potential upside of 10.73% from the stock’s previous close.
Encore Capital Group (NASDAQ:ECPG) traded down 0.39% on Wednesday, hitting $46.15. The stock had a trading volume of 136,422 shares. Encore Capital Group has a 1-year low of $24.34 and a 1-year high of $48.62. The stock has a 50-day moving average of $44.57 and a 200-day moving average of $36.49. The company has a market cap of $1.165 billion and a price-to-earnings ratio of 16.27.
Encore Capital Group (NASDAQ:ECPG) last announced its earnings results on Thursday, August 8th. The company reported $0.85 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.81 by $0.04. The company had revenue of $156.10 million for the quarter, compared to the consensus estimate of $147.73 million. During the same quarter last year, the company posted $0.82 earnings per share. Encore Capital Group’s revenue was up 10.6% compared to the same quarter last year. On average, analysts predict that Encore Capital Group will post $3.67 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on ECPG. Analysts at Janney Montgomery Scott raised their price target on shares of Encore Capital Group from $47.00 to $55.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at Raymond James raised their price target on shares of Encore Capital Group from $43.00 to $48.00 in a research note to investors on Monday, August 12th. Finally, analysts at JMP Securities raised their price target on shares of Encore Capital Group from $44.00 to $49.00 in a research note to investors on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $47.86.
Encore Capital Group, Inc (NASDAQ:ECPG) is engaged in consumer debt buying and recovery.
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