Encore Capital Group (NASDAQ:ECPG) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Encore Capital Group (NASDAQ:ECPG) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

Several other equities analysts also recently commented on ECPG. Northland Capmk raised shares of Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. JMP Securities boosted their price objective on Encore Capital Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. Northland Securities raised Encore Capital Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $55.00 to $58.00 in a research note on Thursday, October 17th. Finally, Truist Financial reduced their price target on Encore Capital Group from $70.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $62.33.

Encore Capital Group Stock Performance

Shares of Encore Capital Group stock opened at $47.60 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.39. The company has a market cap of $1.13 billion, a PE ratio of -6.06 and a beta of 1.56. The company has a 50 day moving average of $46.91 and a 200-day moving average of $46.08. Encore Capital Group has a 1-year low of $39.64 and a 1-year high of $54.55.

Encore Capital Group (NASDAQ:ECPG) last released its earnings results on Wednesday, November 6th. The asset manager reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.22). The business had revenue of $367.07 million for the quarter, compared to the consensus estimate of $360.70 million. Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.79 earnings per share. As a group, equities research analysts forecast that Encore Capital Group will post 5.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Encore Capital Group

Several institutional investors and hedge funds have recently made changes to their positions in ECPG. Clearbridge Investments LLC raised its holdings in Encore Capital Group by 17.8% during the 1st quarter. Clearbridge Investments LLC now owns 394,786 shares of the asset manager’s stock worth $18,006,000 after purchasing an additional 59,624 shares during the last quarter. Sei Investments Co. increased its position in shares of Encore Capital Group by 38.4% during the first quarter. Sei Investments Co. now owns 64,114 shares of the asset manager’s stock worth $2,924,000 after buying an additional 17,799 shares during the period. Russell Investments Group Ltd. raised its stake in Encore Capital Group by 30.4% during the first quarter. Russell Investments Group Ltd. now owns 48,390 shares of the asset manager’s stock worth $2,207,000 after buying an additional 11,276 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Encore Capital Group by 9.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 25,553 shares of the asset manager’s stock valued at $1,163,000 after buying an additional 2,265 shares during the period. Finally, Creative Planning boosted its position in Encore Capital Group by 27.7% during the third quarter. Creative Planning now owns 7,155 shares of the asset manager’s stock valued at $338,000 after acquiring an additional 1,552 shares during the last quarter.

Encore Capital Group Company Profile

Encore Capital Group, Inc, a specialty finance company, provides debt recovery solutions and other related services for consumers across financial assets worldwide. The company purchases portfolios of defaulted consumer receivables at deep discounts to face value, as well as manages them by working with individuals as they repay their obligations and works toward financial recovery.