Encore Capital Group (NASDAQ:ECPG) Price Target Raised to $65.00

by · The Markets Daily

Encore Capital Group (NASDAQ:ECPG – Free Report) had its target price boosted by JMP Securities from $60.00 to $65.00 in a research note issued to investors on Thursday,Benzinga reports. JMP Securities currently has a market outperform rating on the asset manager’s stock.

A number of other research firms have also commented on ECPG. Northland Capmk upgraded shares of Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Northland Securities upgraded 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 report on Thursday, October 17th. Finally, Truist Financial cut their price objective on Encore Capital Group from $70.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $62.33.

Read Our Latest Analysis on Encore Capital Group

Encore Capital Group Trading Up 0.3 %

NASDAQ:ECPG opened at $49.97 on Thursday. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -6.37 and a beta of 1.56. The company has a debt-to-equity ratio of 3.50, a quick ratio of 1.27 and a current ratio of 1.27. Encore Capital Group has a 1 year low of $39.64 and a 1 year high of $54.55. The business has a fifty day moving average of $46.68 and a 200-day moving average of $45.71.

Encore Capital Group (NASDAQ:ECPG – Get Free Report) last announced its earnings results on Wednesday, November 6th. The asset manager reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.22). Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 13.00%. The company had revenue of $367.07 million during the quarter, compared to the consensus estimate of $360.70 million. During the same quarter in the prior year, the company earned $0.79 EPS. The business’s quarterly revenue was up 18.6% on a year-over-year basis. Equities analysts predict that Encore Capital Group will post 5.56 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Intech Investment Management LLC acquired a new position in shares of Encore Capital Group in the 3rd quarter worth $409,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Encore Capital Group by 177.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,550 shares of the asset manager’s stock valued at $1,066,000 after purchasing an additional 14,409 shares during the period. Empowered Funds LLC increased its stake in Encore Capital Group by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 84,812 shares of the asset manager’s stock worth $4,009,000 after purchasing an additional 4,288 shares in the last quarter. Huntington National Bank raised its holdings in Encore Capital Group by 8,700.0% during the 3rd quarter. Huntington National Bank now owns 528 shares of the asset manager’s stock worth $25,000 after buying an additional 522 shares during the period. Finally, KBC Group NV lifted its stake in Encore Capital Group by 54.9% during the third quarter. KBC Group NV now owns 1,365 shares of the asset manager’s stock valued at $65,000 after buying an additional 484 shares in the last quarter.

About Encore Capital Group

(Get Free Report)

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.

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