Encore Capital Group (NASDAQ:ECPG) Stock Price Expected to Rise, JMP Securities Analyst Says

Encore Capital Group (NASDAQ:ECPG) had its price target boosted by JMP Securities from $60.00 to $65.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the asset manager’s stock. JMP Securities’ target price indicates a potential upside of 31.10% from the company’s current price.

ECPG has been the topic of a number of other research reports. Truist Financial dropped their target price on Encore Capital Group from $70.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Northland Securities raised shares of Encore Capital Group from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $55.00 to $58.00 in a report on Thursday, October 17th. Finally, Northland Capmk raised Encore Capital Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Encore Capital Group currently has an average rating of “Buy” and an average target price of $62.33.

Encore Capital Group Trading Down 0.4 %

Shares of NASDAQ ECPG traded down $0.19 during trading hours on Thursday, reaching $49.58. The stock had a trading volume of 129,472 shares, compared to its average volume of 148,503. Encore Capital Group has a 52-week low of $39.64 and a 52-week high of $54.55. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -5.95 and a beta of 1.56. The business’s fifty day moving average price is $46.67 and its two-hundred day moving average price is $45.60. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 3.50.

Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings results on Wednesday, November 6th. The asset manager reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.21). Encore Capital Group had a negative net margin of 15.43% and a positive return on equity of 11.12%. The company had revenue of $367.07 million for the quarter, compared to analyst estimates of $360.70 million. During the same quarter in the previous year, the company posted $0.79 EPS. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. Analysts expect that Encore Capital Group will post 5.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Huntington National Bank grew its position in shares of Encore Capital Group by 8,700.0% during the third quarter. Huntington National Bank now owns 528 shares of the asset manager’s stock worth $25,000 after acquiring an additional 522 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Encore Capital Group in the second quarter valued at $33,000. nVerses Capital LLC raised its holdings in shares of Encore Capital Group by 450.0% in the second quarter. nVerses Capital LLC now owns 1,100 shares of the asset manager’s stock valued at $46,000 after buying an additional 900 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Encore Capital Group during the second quarter worth about $60,000. Finally, KBC Group NV grew its holdings in shares of Encore Capital Group by 54.9% during the third quarter. KBC Group NV now owns 1,365 shares of the asset manager’s stock worth $65,000 after buying an additional 484 shares during the last quarter.

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.