Encore Capital Group (NASDAQ:ECPG) Posts Earnings Results, Misses Estimates By $0.22 EPS

Encore Capital Group (NASDAQ:ECPG) posted its earnings results on Wednesday. The asset manager reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.22), Briefing.com reports. The business had revenue of $367.07 million during the quarter, compared to the consensus estimate of $360.70 million. Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 13.00%. The business’s revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.79 EPS.

Encore Capital Group Price Performance

Shares of Encore Capital Group stock traded up $0.17 during midday trading on Friday, hitting $49.97. 162,823 shares of the company traded hands, compared to its average volume of 153,293. 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. 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 firm’s fifty day moving average price is $46.68 and its 200-day moving average price is $45.68.

Analyst Ratings Changes

Several analysts have recently commented on the stock. 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 increased their target price on shares of Encore Capital Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a report on Thursday. Northland Securities upgraded shares of Encore Capital Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $55.00 to $58.00 in a report on Thursday, October 17th. Finally, Truist Financial dropped their price objective on shares of Encore Capital Group from $70.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $62.33.

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.