Encore Capital Group, Inc. (ECPG) Receives New Coverage from Analysts at Keefe, Bruyette & Woods
Research analysts at Keefe, Bruyette & Woods began coverage on shares of Encore Capital Group, Inc. (NASDAQ:ECPG) in a note issued to investors on Wednesday, The Fly reports. The firm set an “outperform” rating on the asset manager’s stock.
ECPG has been the topic of several other research reports. Janney Montgomery Scott cut Encore Capital Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $36.00 to $32.00 in a report on Friday, February 24th. Zacks Investment Research upgraded Encore Capital Group from a “sell” rating to a “hold” rating and set a $42.00 price objective on the stock in a report on Thursday, May 11th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Encore Capital Group has a consensus rating of “Hold” and an average target price of $29.80.
Encore Capital Group (NASDAQ:ECPG) traded up 0.26% during mid-day trading on Wednesday, hitting $38.25. 290,208 shares of the stock were exchanged. The stock has a market capitalization of $984.44 million, a P/E ratio of 13.63 and a beta of 1.54. The firm has a 50-day moving average price of $33.79 and a 200-day moving average price of $30.77. Encore Capital Group has a 12-month low of $17.66 and a 12-month high of $38.75.
Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings data on Thursday, May 4th. The asset manager reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.02. Encore Capital Group had a return on equity of 17.26% and a net margin of 5.00%. The business had revenue of $271.94 million for the quarter, compared to analysts’ expectations of $280.93 million. During the same quarter in the previous year, the business posted $1.31 EPS. Encore Capital Group’s revenue for the quarter was down 5.9% on a year-over-year basis. Equities analysts predict that Encore Capital Group will post $3.74 earnings per share for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in ECPG. Carlson Capital L P boosted its stake in Encore Capital Group by 46.2% in the second quarter. Carlson Capital L P now owns 1,389,244 shares of the asset manager’s stock valued at $32,689,000 after buying an additional 439,244 shares during the last quarter. William Blair Investment Management LLC boosted its stake in Encore Capital Group by 13.2% in the fourth quarter. William Blair Investment Management LLC now owns 2,993,607 shares of the asset manager’s stock valued at $87,054,000 after buying an additional 348,731 shares during the last quarter. Channing Capital Management LLC boosted its stake in Encore Capital Group by 31.0% in the fourth quarter. Channing Capital Management LLC now owns 1,393,150 shares of the asset manager’s stock valued at $40,513,000 after buying an additional 329,997 shares during the last quarter. Norges Bank purchased a new stake in Encore Capital Group during the fourth quarter valued at approximately $8,662,000. Finally, Kalmar Investments Inc. DE boosted its stake in Encore Capital Group by 63.2% in the fourth quarter. Kalmar Investments Inc. DE now owns 751,971 shares of the asset manager’s stock valued at $21,867,000 after buying an additional 291,095 shares during 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 Portfolio Purchasing and Recovery segment. The Company’s geographical segments include the United States, Europe and other.
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