Encore Capital Group, Inc. (NASDAQ:ECPG) Receives $62.67 Consensus PT from Analysts

Shares of Encore Capital Group, Inc. (NASDAQ:ECPG) have been given a consensus recommendation of “Buy” by the four research firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $62.67.

Several research firms have recently commented on ECPG. Northland Securities raised their price target on Encore Capital Group from $58.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. Truist Financial dropped their price objective on Encore Capital Group from $64.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, StockNews.com downgraded Encore Capital Group from a “buy” rating to a “hold” rating in a research note on Friday, February 28th.

Encore Capital Group Stock Up 0.8 %

ECPG opened at $34.79 on Monday. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50 day simple moving average of $44.48 and a 200-day simple moving average of $46.37. The stock has a market capitalization of $824.21 million, a P/E ratio of -4.43 and a beta of 1.73. Encore Capital Group has a 12 month low of $31.54 and a 12 month high of $51.77.

Encore Capital Group (NASDAQ:ECPG) last posted its quarterly earnings results on Wednesday, February 26th. The asset manager reported $1.50 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.05). The business had revenue of $265.62 million during the quarter, compared to analyst estimates of $373.40 million. Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 12.70%. On average, equities analysts anticipate that Encore Capital Group will post 5.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Ashish Masih purchased 20,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was bought at an average price of $35.14 per share, with a total value of $702,800.00. Following the completion of the transaction, the chief executive officer now owns 322,254 shares of the company’s stock, valued at approximately $11,324,005.56. This represents a 6.62 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ashwini Gupta purchased 40,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $35.10 per share, with a total value of $1,404,000.00. Following the transaction, the director now directly owns 96,909 shares of the company’s stock, valued at $3,401,505.90. This represents a 70.29 % increase in their position. The disclosure for this purchase can be found here. 2.63% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Encore Capital Group

Several hedge funds have recently bought and sold shares of ECPG. Versor Investments LP purchased a new position in Encore Capital Group during the third quarter worth $222,000. KBC Group NV grew its position in shares of Encore Capital Group by 54.9% in the third quarter. KBC Group NV now owns 1,365 shares of the asset manager’s stock valued at $65,000 after purchasing an additional 484 shares during the period. Huntington National Bank grew its position in shares of Encore Capital Group by 8,700.0% in the third quarter. Huntington National Bank now owns 528 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 522 shares during the period. Empowered Funds LLC grew its position in shares of Encore Capital Group by 5.3% in the third quarter. Empowered Funds LLC now owns 84,812 shares of the asset manager’s stock valued at $4,009,000 after purchasing an additional 4,288 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Encore Capital Group by 177.0% in the third 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.

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.