Encore Capital Group (NASDAQ:ECPG) Hits New 52-Week Low on Analyst Downgrade

Encore Capital Group, Inc. (NASDAQ:ECPG) shares hit a new 52-week low on Friday after StockNews.com downgraded the stock from a buy rating to a hold rating. The company traded as low as $36.37 and last traded at $38.95, with a volume of 1769552 shares. The stock had previously closed at $49.86.

Other equities research analysts have also issued reports about the stock. Northland Securities upped their price target on shares of Encore Capital Group from $58.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. JMP Securities upped their price target on shares of Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. Finally, Truist Financial lowered their price target on shares of Encore Capital Group from $64.00 to $57.00 and set a “buy” rating for the company in a report on Thursday. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $62.67.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp purchased a new position in Encore Capital Group during the 4th quarter valued at $322,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Encore Capital Group by 31.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,793 shares of the asset manager’s stock valued at $3,477,000 after purchasing an additional 17,470 shares during the period. Voloridge Investment Management LLC purchased a new position in Encore Capital Group during the 4th quarter valued at $1,713,000. Squarepoint Ops LLC increased its position in Encore Capital Group by 64.5% during the 4th quarter. Squarepoint Ops LLC now owns 42,095 shares of the asset manager’s stock valued at $2,011,000 after purchasing an additional 16,507 shares during the period. Finally, Two Sigma Advisers LP increased its position in Encore Capital Group by 75.4% during the 4th quarter. Two Sigma Advisers LP now owns 87,000 shares of the asset manager’s stock valued at $4,156,000 after purchasing an additional 37,400 shares during the period.

Encore Capital Group Trading Down 3.2 %

The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s 50-day simple moving average is $48.36 and its 200-day simple moving average is $47.97. The firm has a market capitalization of $893.62 million, a PE ratio of -4.81 and a beta of 1.55.

Encore Capital Group (NASDAQ:ECPG) last released its earnings results on Wednesday, February 26th. The asset manager reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.05). The business had revenue of $265.62 million during the quarter, compared to analysts’ expectations of $373.40 million. Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. As a group, sell-side analysts expect that Encore Capital Group, Inc. will post 5.09 EPS for the current fiscal year.

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.