Encore Capital Group Inc. (ECPG) Stock Rating Upgraded by Zacks Investment Research
Encore Capital Group Inc. (NASDAQ:ECPG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Encore Capital Group is a leading provider of debt management and recovery solutions for consumers and property owners across a broad range of assets. Through its subsidiaries, the company purchases portfolios of consumer receivables from major banks, credit unions, and utility providers, and partners with individuals as they repay their obligations and work toward financial recovery. Through its Propel Financial Services subsidiary, the company assists property owners who are delinquent on their property taxes by structuring affordable monthly payment plans. Encore’s success and future growth are driven by its sophisticated and widespread use of analytics, its broad investments in data and behavioral science, the significant cost advantages provided by its highly-efficient operating model and proven investment strategy, and the company’s demonstrated commitment to conducting business ethically and in ways that support its consumers’ financial recovery. “
A number of other brokerages have also recently weighed in on ECPG. Northland Securities cut shares of Encore Capital Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $37.00 to $21.00 in a report on Friday, August 5th. Citigroup Inc. cut shares of Encore Capital Group from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $31.00 to $24.00 in a report on Tuesday, September 20th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Encore Capital Group presently has an average rating of “Hold” and a consensus price target of $32.60.
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Shares of Encore Capital Group (NASDAQ:ECPG) traded down 2.15% on Tuesday, reaching $20.45. 321,485 shares of the company’s stock were exchanged. Encore Capital Group has a one year low of $16.09 and a one year high of $41.44. The firm has a market capitalization of $522.01 million, a P/E ratio of 12.27 and a beta of 1.55. The firm has a 50 day moving average of $21.96 and a 200 day moving average of $23.94.
Encore Capital Group (NASDAQ:ECPG) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.08. The firm earned $289 million during the quarter, compared to analysts’ expectations of $296.97 million. Encore Capital Group had a net margin of 3.72% and a return on equity of 21.89%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 earnings per share. On average, equities research analysts predict that Encore Capital Group will post $5.02 EPS for the current year.
In other news, Director Willem Mesdag purchased 25,000 shares of the firm’s stock in a transaction that occurred 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 completion of the purchase, the director now directly owns 36,278 shares of the company’s stock, valued at $756,396.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.69% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Mason Street Advisors LLC purchased a new position in shares of Encore Capital Group during the second quarter worth about $109,000. BlackRock Inc. increased its position in shares of Encore Capital Group by 243.3% in the second quarter. BlackRock Inc. now owns 6,673 shares of the company’s stock worth $157,000 after buying an additional 4,729 shares in the last quarter. BNP Paribas Arbitrage SA increased its position 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. Intrust Bank NA purchased a new position in shares of Encore Capital Group during the second quarter worth about $240,000. Finally, Louisiana State Employees Retirement System increased its position 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.
About Encore Capital Group
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.
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