Encore Capital Group (NASDAQ:ECPG) Downgraded to Hold Rating by StockNews.com

StockNews.com downgraded shares of Encore Capital Group (NASDAQ:ECPG) from a buy rating to a hold rating in a research note released on Wednesday morning.

A number of other analysts have also recently issued reports on ECPG. Truist Financial cut their price objective on Encore Capital Group from $70.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Northland Capmk raised Encore Capital Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Northland Securities upgraded shares of 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 report on Thursday, October 17th. Finally, JMP Securities increased their price objective on shares of Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research report 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. According to data from MarketBeat, Encore Capital Group has a consensus rating of “Buy” and a consensus target price of $62.33.

Encore Capital Group Trading Down 2.1 %

NASDAQ ECPG opened at $47.60 on Wednesday. The company has a market cap of $1.13 billion, a PE ratio of -6.06 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 of $46.91 and a 200-day moving average of $46.08. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.39.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ECPG. Huntington National Bank grew its stake 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 acquiring an additional 522 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Encore Capital Group during the 2nd quarter worth approximately $33,000. nVerses Capital LLC grew its position 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 purchasing an additional 900 shares in the last quarter. KBC Group NV increased 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 purchasing an additional 484 shares during the period. Finally, Innealta Capital LLC acquired a new stake in shares of Encore Capital Group in the second quarter valued at approximately $60,000.

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.