Equities research analysts predict that Encore Capital Group, Inc. (NASDAQ:ECPG) will post sales of $284.27 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Encore Capital Group’s earnings, with estimates ranging from $240.00 million to $301.91 million. Encore Capital Group posted sales of $271.38 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.7%. The business is expected to issue its next earnings results on Thursday, February 22nd.
On average, analysts expect that Encore Capital Group will report full year sales of $284.27 million for the current year, with estimates ranging from $938.00 million to $1.17 billion. For the next fiscal year, analysts expect that the company will post sales of $1.20 billion per share, with estimates ranging from $1.01 billion to $1.27 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Encore Capital Group.
Several research analysts recently weighed in on ECPG shares. Oppenheimer started coverage on shares of Encore Capital Group in a research report on Monday, January 8th. They set a “buy” rating and a $53.00 price target for the company. BidaskClub downgraded shares of Encore Capital Group from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. ValuEngine upgraded shares of Encore Capital Group from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Zacks Investment Research downgraded shares of Encore Capital Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Finally, Northland Securities restated 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $48.10.
In other Encore Capital Group news, insider Paul Grinberg sold 38,546 shares of the stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $42.43, for a total value of $1,635,506.78. Following the completion of the sale, the insider now owns 250,171 shares in the company, valued at approximately $10,614,755.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 95,365 shares of company stock valued at $4,015,307. 8.80% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its holdings in Encore Capital Group by 3.5% in the 2nd quarter. State Street Corp now owns 568,689 shares of the asset manager’s stock valued at $22,830,000 after acquiring an additional 19,252 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Encore Capital Group by 17.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 118,742 shares of the asset manager’s stock worth $4,768,000 after buying an additional 17,822 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Encore Capital Group by 7.7% during the 2nd quarter. Northern Trust Corp now owns 632,955 shares of the asset manager’s stock worth $25,414,000 after buying an additional 45,218 shares during the last quarter. EJF Capital LLC acquired a new stake in shares of Encore Capital Group during the 3rd quarter worth approximately $2,437,000. Finally, BlackRock Inc. increased its holdings in shares of Encore Capital Group by 1.1% during the 2nd quarter. BlackRock Inc. now owns 2,511,735 shares of the asset manager’s stock worth $100,846,000 after buying an additional 27,239 shares during the last quarter.
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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 Portfolio Purchasing and Recovery segment. The Company’s geographical segments include the United States, Europe and other.
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