Encore Capital Group (NASDAQ:ECPG) Issues Earnings Results

Encore Capital Group (NASDAQ:ECPG) released its earnings results on Wednesday. The asset manager reported $1.26 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.21), Briefing.com reports. The company had revenue of $367.07 million for the quarter, compared to analyst estimates of $360.70 million. Encore Capital Group had a negative net margin of 15.43% and a positive return on equity of 11.12%. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 EPS.

Encore Capital Group Stock Performance

Shares of Encore Capital Group stock traded down $0.28 on Thursday, reaching $49.49. 148,784 shares of the company traded hands, compared to its average volume of 148,592. The company has a debt-to-equity ratio of 3.50, a current ratio of 1.27 and a quick ratio of 1.27. The company has a 50 day moving average of $46.67 and a 200 day moving average of $45.60. Encore Capital Group has a 52 week low of $39.64 and a 52 week high of $54.55. The firm has a market capitalization of $1.17 billion, a PE ratio of -5.96 and a beta of 1.56.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ECPG shares. Northland Capmk raised Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. JMP Securities boosted their target price on shares of Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research note on Thursday. Truist Financial cut their price objective on shares of Encore Capital Group from $70.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Finally, Northland Securities raised Encore Capital Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $55.00 to $58.00 in a research note on Thursday, October 17th. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $62.33.

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.