Keefe, Bruyette & Woods Reaffirms Reduce Rating for Encore Capital Group (NASDAQ:ECPG)

Encore Capital Group (NASDAQ:ECPG)‘s stock had its “reduce” rating reissued by research analysts at Keefe, Bruyette & Woods in a report released on Sunday, The Fly reports. They currently have a $50.00 price target on the asset manager’s stock, up from their previous price target of $45.00. Keefe, Bruyette & Woods’ price target indicates a potential upside of 36.46% from the stock’s current price.

Several other equities analysts have also commented on ECPG. BidaskClub upgraded shares of Encore Capital Group from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Northland Securities reiterated a “buy” rating and issued a $40.00 target price on shares of Encore Capital Group in a research report on Thursday. Zacks Investment Research upgraded shares of Encore Capital Group from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Friday. Finally, ValuEngine lowered shares of Encore Capital Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $41.17.

ECPG traded up $0.53 during trading on Friday, hitting $36.64. The company had a trading volume of 323,900 shares, compared to its average volume of 286,771. The business has a 50-day moving average of $33.44 and a 200-day moving average of $34.29. The company has a market cap of $1.04 billion, a PE ratio of 7.36, a P/E/G ratio of 0.40 and a beta of 1.46. The company has a debt-to-equity ratio of 3.91, a current ratio of 0.77 and a quick ratio of 0.77. Encore Capital Group has a 1-year low of $20.38 and a 1-year high of $39.19.

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Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings results on Wednesday, November 6th. The asset manager reported $1.64 EPS for the quarter, topping the consensus estimate of $1.39 by $0.25. The business had revenue of $355.94 million during the quarter, compared to analyst estimates of $348.73 million. Encore Capital Group had a net margin of 11.14% and a return on equity of 19.85%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.19 earnings per share. Research analysts forecast that Encore Capital Group will post 5.64 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. bought a new position in Encore Capital Group in the 3rd quarter valued at about $67,000. Russell Investments Group Ltd. bought a new position in Encore Capital Group in the 3rd quarter valued at about $92,000. Tower Research Capital LLC TRC grew its position in Encore Capital Group by 615.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,862 shares of the asset manager’s stock valued at $97,000 after buying an additional 2,462 shares in the last quarter. Parallax Volatility Advisers L.P. grew its position in Encore Capital Group by 115.7% in the 2nd quarter. Parallax Volatility Advisers L.P. now owns 3,589 shares of the asset manager’s stock valued at $122,000 after buying an additional 26,517 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new position in Encore Capital Group in the 2nd quarter valued at about $223,000.

About Encore Capital Group

Encore Capital Group, Inc, a specialty finance company, together with its subsidiaries, provides debt recovery solutions and other related services for consumers across a range of 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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Analyst Recommendations for Encore Capital Group (NASDAQ:ECPG)

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