Zacks Investment Research Upgrades Encore Capital Group Inc (ECPG) to Hold
Encore Capital Group Inc (NASDAQ:ECPG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.
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. “
Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded Encore Capital Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Northland Securities reiterated a “hold” rating and issued a $44.00 price objective on shares of Encore Capital Group in a research report on Friday. Finally, Keefe, Bruyette & Woods started coverage on Encore Capital Group in a research report on Wednesday, May 24th. They issued an “outperform” rating and a $45.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Encore Capital Group presently has an average rating of “Hold” and a consensus target price of $36.83.
Shares of Encore Capital Group (NASDAQ ECPG) traded up 0.70% during trading on Monday, hitting $42.95. The stock had a trading volume of 329,680 shares. The company has a market cap of $1.11 billion, a PE ratio of 15.31 and a beta of 1.76. The firm’s 50 day moving average is $40.03 and its 200 day moving average is $34.97. Encore Capital Group has a 1-year low of $17.66 and a 1-year high of $43.55.
Encore Capital Group (NASDAQ:ECPG) last posted its earnings results on Thursday, August 3rd. The asset manager reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.05. The firm had revenue of $290.92 million for the quarter, compared to the consensus estimate of $275.18 million. Encore Capital Group had a return on equity of 12.38% and a net margin of 6.28%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.29 earnings per share. Equities research analysts anticipate that Encore Capital Group will post $3.73 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ECPG. Norges Bank purchased a new position in Encore Capital Group during the fourth quarter worth approximately $8,662,000. FMR LLC boosted its position in Encore Capital Group by 74.9% in the first quarter. FMR LLC now owns 616,608 shares of the asset manager’s stock worth $18,992,000 after buying an additional 264,085 shares in the last quarter. Peregrine Capital Management LLC purchased a new position in Encore Capital Group during the first quarter worth approximately $6,795,000. Vanguard Group Inc. boosted its position in Encore Capital Group by 8.6% in the first quarter. Vanguard Group Inc. now owns 2,128,159 shares of the asset manager’s stock worth $65,547,000 after buying an additional 169,254 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Encore Capital Group by 417.6% in the second quarter. SG Americas Securities LLC now owns 201,483 shares of the asset manager’s stock worth $8,090,000 after buying an additional 162,554 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 Portfolio Purchasing and Recovery segment. The Company’s geographical segments include the United States, Europe and other.
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