Analysts expect Encore Capital Group, Inc. (NASDAQ:ECPG) to post $0.93 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Encore Capital Group’s earnings, with the lowest EPS estimate coming in at $0.91 and the highest estimate coming in at $0.95. Encore Capital Group posted earnings of $0.72 per share during the same quarter last year, which suggests a positive year over year growth rate of 29.2%. The business is scheduled to report its next earnings results on Thursday, February 22nd.
According to Zacks, analysts expect that Encore Capital Group will report full year earnings of $3.91 per share for the current year, with EPS estimates ranging from $3.83 to $4.01. For the next financial year, analysts anticipate that the business will report earnings of $4.06 per share, with EPS estimates ranging from $3.94 to $4.10. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Encore Capital Group.
A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded Encore Capital Group from a “sell” rating to a “hold” rating in a research report on Monday, November 6th. Janney Montgomery Scott reiterated a “hold” rating on shares of Encore Capital Group in a research report on Saturday, November 18th. BidaskClub downgraded Encore Capital Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 7th. SunTrust Banks reiterated a “buy” rating and set a $57.00 price target on shares of Encore Capital Group in a research report on Friday, November 3rd. Finally, Northland Securities reiterated a “hold” rating and set a $49.00 price target on shares of Encore Capital Group in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $46.88.
In related news, insider Paul Grinberg sold 37,546 shares of the firm’s stock in a transaction dated Wednesday, December 26th. The stock was sold at an average price of $42.43, for a total transaction of $1,593,076.78. Following the transaction, the insider now directly owns 250,171 shares of the company’s stock, valued at approximately $10,614,755.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.80% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP purchased a new position in shares of Encore Capital Group during the 3rd quarter valued at about $1,750,000. Janney Capital Management LLC purchased a new position in Encore Capital Group in the 3rd quarter worth approximately $217,000. Granahan Investment Management Inc. MA purchased a new position in Encore Capital Group in the 3rd quarter worth approximately $2,224,000. EJF Capital LLC purchased a new position in Encore Capital Group in the 3rd quarter worth approximately $2,437,000. Finally, Mackenzie Financial Corp increased its stake in Encore Capital Group by 16.8% in the 3rd quarter. Mackenzie Financial Corp now owns 7,934 shares of the asset manager’s stock worth $351,000 after purchasing an additional 1,140 shares during the period.
WARNING: “Brokerages Anticipate Encore Capital Group, Inc. (ECPG) to Announce $0.93 EPS” was published by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another site, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/01/05/brokerages-anticipate-encore-capital-group-inc-ecpg-to-announce-0-93-eps.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Encore Capital Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encore Capital Group and related companies with MarketBeat.com's FREE daily email newsletter.