Encore Capital Group Inc. (ECPG) Receives Average Rating of “Hold” from Brokerages
Encore Capital Group Inc. (NASDAQ:ECPG) has received a consensus recommendation of “Hold” from the seven ratings firms that are covering the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $32.67.
A number of brokerages have recently commented on ECPG. Citigroup Inc. lowered their price objective on Encore Capital Group from $32.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, August 8th. Zacks Investment Research lowered Encore Capital Group from a “hold” rating to a “sell” rating in a report on Monday, August 8th. Finally, Northland Securities downgraded Encore Capital Group from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $37.00 to $21.00 in a research note on Friday, August 5th.
In other news, Director Willem Mesdag acquired 25,000 shares of Encore Capital Group stock in a transaction on Monday, August 8th. The stock was bought at an average price of $20.85 per share, for a total transaction of $521,250.00. Following the transaction, the director now owns 36,278 shares of the company’s stock, valued at $756,396.30. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 8.69% of the stock is owned by company insiders.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/13/encore-capital-group-inc-ecpg-receives-average-rating-of-hold-from-brokerages.html
Hedge funds have recently made changes to their positions in the company. GW&K Investment Management LLC increased its stake in shares of Encore Capital Group by 12.2% in the second quarter. GW&K Investment Management LLC now owns 118,058 shares of the company’s stock worth $2,778,000 after buying an additional 12,822 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Encore Capital Group by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,500 shares of the company’s stock worth $247,000 after buying an additional 100 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Encore Capital Group during the second quarter worth approximately $1,211,000. BNP Paribas Arbitrage SA increased its stake in shares of Encore Capital Group by 138.3% in the second quarter. BNP Paribas Arbitrage SA now owns 7,512 shares of the company’s stock worth $177,000 after buying an additional 4,360 shares in the last quarter. Finally, Hillcrest Asset Management LLC purchased a new stake in shares of Encore Capital Group during the first quarter worth approximately $5,410,000.
Encore Capital Group (NASDAQ:ECPG) traded down 1.25% on Thursday, reaching $21.25. The company’s stock had a trading volume of 104,337 shares. The firm has a 50-day moving average price of $21.99 and a 200 day moving average price of $24.03. The firm has a market capitalization of $542.43 million, a P/E ratio of 12.76 and a beta of 1.56. Encore Capital Group has a 52-week low of $16.09 and a 52-week high of $41.44.
Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings data on Thursday, August 4th. The company reported $1.29 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.08. The business had revenue of $289 million for the quarter, compared to analyst estimates of $296.97 million. Encore Capital Group had a return on equity of 21.89% and a net margin of 3.72%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.21 EPS. Equities analysts anticipate that Encore Capital Group will post $5.02 earnings per share for the current fiscal year.
Encore Capital Group Company Profile
Encore Capital Group, Inc, through its subsidiaries, is a specialty finance company providing debt recovery solutions for consumers and property owners across a range of financial assets. The Company operates through two segments: Portfolio Purchasing and Recovery, and Tax Lien Business. Its portfolio purchasing and recovery segment purchases portfolios of defaulted consumer receivables at discounts and manages them by partnering with individuals as they repay their obligations and work toward financial recovery.
Receive News & Ratings for Encore Capital Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encore Capital Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.