StockNews.com Downgrades Encore Capital Group (NASDAQ:ECPG) to Hold

Encore Capital Group (NASDAQ:ECPG) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Other research analysts also recently issued research reports about the company. Truist Financial lowered their price objective on Encore Capital Group from $70.00 to $64.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. Northland Securities raised Encore Capital Group from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $55.00 to $58.00 in a research note on Thursday, October 17th. Northland Capmk raised Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, JMP Securities upped their price objective on Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $62.33.

Encore Capital Group Stock Down 0.7 %

Shares of NASDAQ ECPG opened at $48.62 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.39. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -6.19 and a beta of 1.56. Encore Capital Group has a 12 month low of $39.64 and a 12 month high of $54.55. The stock has a 50-day moving average price of $46.87 and a two-hundred day moving average price of $46.07.

Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings data on Wednesday, November 6th. The asset manager reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.22). Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 12.70%. The firm had revenue of $367.07 million during the quarter, compared to analyst estimates of $360.70 million. During the same period in the prior year, the company earned $0.79 EPS. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. As a group, analysts forecast that Encore Capital Group will post 5.09 earnings per share for the current fiscal year.

Institutional Trading of Encore Capital Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank increased its position in Encore Capital Group by 8,700.0% during the 3rd 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. Meeder Asset Management Inc. acquired a new stake in Encore Capital Group during the 2nd quarter valued at approximately $33,000. nVerses Capital LLC boosted its holdings in shares of Encore Capital Group by 450.0% during the 2nd quarter. nVerses Capital LLC now owns 1,100 shares of the asset manager’s stock worth $46,000 after buying an additional 900 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Encore Capital Group during the 2nd quarter worth approximately $60,000. Finally, KBC Group NV boosted its holdings in shares of Encore Capital Group by 54.9% during the 3rd quarter. KBC Group NV now owns 1,365 shares of the asset manager’s stock worth $65,000 after buying an additional 484 shares in the last quarter.

About Encore Capital Group

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.