Encore Capital Group Inc. (ECPG) Upgraded at 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 research report issued to clients and investors 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 research firms have also recently commented on ECPG. Northland Securities cut Encore Capital Group from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $37.00 to $21.00 in a research note on Friday, August 5th. Citigroup Inc. cut Encore Capital Group from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $31.00 to $24.00 in a research note on Tuesday, September 20th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $32.60.
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Shares of Encore Capital Group (NASDAQ:ECPG) traded down 2.15% during mid-day trading on Tuesday, reaching $20.45. The company’s stock had a trading volume of 321,485 shares. The stock has a market capitalization of $522.01 million, a price-to-earnings ratio of 12.27 and a beta of 1.55. The company’s 50-day moving average is $21.96 and its 200-day moving average is $23.94. 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 released its quarterly earnings results on Thursday, August 4th. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.08. Encore Capital Group had a return on equity of 21.89% and a net margin of 3.72%. The company had revenue of $289 million for the quarter, compared to analysts’ expectations of $296.97 million. During the same period in the prior year, the firm earned $1.21 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities analysts predict that Encore Capital Group will post $5.02 EPS for the current year.
In related news, Director Willem Mesdag acquired 25,000 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were acquired at an average price of $20.85 per share, with a total value of $521,250.00. Following the completion of the transaction, the director now owns 36,278 shares of the company’s stock, valued at $756,396.30. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 8.69% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. GW&K Investment Management LLC raised its stake in 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 raised its stake in 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 bought a new stake in Encore Capital Group during the second quarter worth $1,211,000. BNP Paribas Arbitrage SA raised its stake in 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 bought a new stake in Encore Capital Group during the first quarter worth $5,410,000.
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.
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