Encore Capital Group (NASDAQ:ECPG) Releases Earnings Results

Encore Capital Group (NASDAQ:ECPG) issued its earnings results on Wednesday. The asset manager reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.21), Briefing.com reports. The business had revenue of $367.07 million during the quarter, compared to analysts’ expectations of $360.70 million. Encore Capital Group had a positive return on equity of 11.12% and a negative net margin of 15.43%. Encore Capital Group’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period last year, the firm posted $0.79 EPS.

Encore Capital Group Trading Down 0.6 %

NASDAQ ECPG traded down $0.28 during trading hours on Thursday, hitting $49.49. 148,784 shares of the company’s stock were exchanged, compared to its average volume of 148,592. The firm has a market capitalization of $1.17 billion, a P/E ratio of -5.96 and a beta of 1.56. The business’s 50 day moving average is $46.67 and its 200-day moving average is $45.60. Encore Capital Group has a 12-month low of $39.64 and a 12-month high of $54.55. The company has a debt-to-equity ratio of 3.50, a quick ratio of 1.27 and a current ratio of 1.27.

Analyst Ratings Changes

A number of analysts have issued reports on ECPG shares. Northland Securities raised Encore Capital Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $55.00 to $58.00 in a research note on Thursday, October 17th. Truist Financial dropped their target price on shares of Encore Capital Group from $70.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Northland Capmk upgraded Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, JMP Securities boosted their price objective on Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research report on Thursday. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Encore Capital Group has an average rating of “Buy” and a consensus target price of $62.33.

About Encore Capital Group

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.