Encore Capital Group’s (ECPG) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reissued their market outperform rating on shares of Encore Capital Group (NASDAQ:ECPG) in a research report released on Monday, Benzinga reports. They currently have a $60.00 price objective on the asset manager’s stock.

Separately, Truist Financial decreased their price target 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.

Encore Capital Group Trading Up 2.5 %

Shares of ECPG opened at $46.44 on Monday. The business’s 50-day moving average price is $47.52 and its 200-day moving average price is $45.26. Encore Capital Group has a twelve month low of $34.74 and a twelve month high of $54.55. The stock has a market cap of $1.10 billion, a PE ratio of -5.41 and a beta of 1.55. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 3.50.

Encore Capital Group (NASDAQ:ECPG) last announced its quarterly earnings results on Wednesday, August 7th. The asset manager reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.10. Encore Capital Group had a positive return on equity of 11.12% and a negative net margin of 15.43%. The firm had revenue of $355.29 million for the quarter, compared to analysts’ expectations of $346.06 million. During the same period in the prior year, the business posted $1.08 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. On average, equities analysts forecast that Encore Capital Group will post 5.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Clearbridge Investments LLC increased its position in shares of Encore Capital Group by 17.8% in the first quarter. Clearbridge Investments LLC now owns 394,786 shares of the asset manager’s stock worth $18,006,000 after purchasing an additional 59,624 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Encore Capital Group by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 182,117 shares of the asset manager’s stock worth $7,600,000 after purchasing an additional 1,650 shares during the last quarter. Marshall Wace LLP increased its position in shares of Encore Capital Group by 221.1% in the second quarter. Marshall Wace LLP now owns 130,127 shares of the asset manager’s stock worth $5,430,000 after purchasing an additional 89,596 shares during the last quarter. Millennium Management LLC boosted its stake in Encore Capital Group by 60.0% in the second quarter. Millennium Management LLC now owns 80,170 shares of the asset manager’s stock worth $3,345,000 after buying an additional 30,052 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Encore Capital Group by 14.0% in the second quarter. Sei Investments Co. now owns 73,105 shares of the asset manager’s stock worth $3,051,000 after buying an additional 8,991 shares in 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.