Zacks: Brokerages Expect Encore Capital Group, Inc. (NASDAQ:ECPG) Will Post Quarterly Sales of $350.84 Million

Equities research analysts forecast that Encore Capital Group, Inc. (NASDAQ:ECPG) will report $350.84 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Encore Capital Group’s earnings, with the lowest sales estimate coming in at $342.57 million and the highest estimate coming in at $364.00 million. Encore Capital Group reported sales of $336.77 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.2%. The company is scheduled to report its next quarterly earnings report on Wednesday, November 6th.

According to Zacks, analysts expect that Encore Capital Group will report full year sales of $1.40 billion for the current financial year, with estimates ranging from $1.38 billion to $1.43 billion. For the next year, analysts forecast that the company will post sales of $1.45 billion, with estimates ranging from $1.43 billion to $1.48 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Encore Capital Group.

Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings data on Wednesday, August 7th. The asset manager reported $1.28 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.28. Encore Capital Group had a net margin of 11.14% and a return on equity of 19.85%. The business had revenue of $346.87 million during the quarter, compared to analysts’ expectations of $353.89 million. During the same quarter in the prior year, the company earned $1.33 EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis.

ECPG has been the subject of a number of research reports. BidaskClub upgraded Encore Capital Group from a “sell” rating to a “hold” rating in a report on Friday, September 13th. Keefe, Bruyette & Woods set a $45.00 target price on Encore Capital Group and gave the stock a “buy” rating in a report on Tuesday, September 10th. Northland Securities reiterated a “buy” rating and set a $40.00 target price on shares of Encore Capital Group in a report on Thursday, August 8th. ValuEngine cut Encore Capital Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. Finally, Zacks Investment Research upgraded Encore Capital Group from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Encore Capital Group currently has an average rating of “Buy” and an average target price of $40.67.

A number of hedge funds have recently added to or reduced their stakes in the business. Voloridge Investment Management LLC acquired a new position in shares of Encore Capital Group during the 2nd quarter worth about $437,000. Waddell & Reed Financial Inc. acquired a new position in shares of Encore Capital Group during the 2nd quarter worth about $9,891,000. Nuveen Asset Management LLC acquired a new position in shares of Encore Capital Group during the 2nd quarter worth about $12,557,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Encore Capital Group by 6.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,308,104 shares of the asset manager’s stock worth $112,045,000 after buying an additional 191,768 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Encore Capital Group by 2.1% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 19,196 shares of the asset manager’s stock worth $650,000 after buying an additional 394 shares during the last quarter.

ECPG stock traded up $0.31 during trading hours on Wednesday, reaching $34.09. 219,876 shares of the stock were exchanged, compared to its average volume of 494,994. The firm’s 50-day moving average is $35.73 and its 200-day moving average is $33.35. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 6.85, a PEG ratio of 0.41 and a beta of 1.48. The company has a debt-to-equity ratio of 3.91, a current ratio of 0.77 and a quick ratio of 0.77. Encore Capital Group has a 12 month low of $20.38 and a 12 month high of $39.19.

About Encore Capital Group

Encore Capital Group, Inc, a specialty finance company, together with its subsidiaries, provides debt recovery solutions and other related services for consumers across a range of 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.

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Earnings History and Estimates for Encore Capital Group (NASDAQ:ECPG)

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