Keefe, Bruyette & Woods Reaffirms Reduce Rating for Encore Capital Group (NASDAQ:ECPG)

Encore Capital Group (NASDAQ:ECPG)‘s stock had its “reduce” rating restated by research analysts at Keefe, Bruyette & Woods in a report released on Sunday, The Fly reports. They presently have a $50.00 target price on the asset manager’s stock, up from their previous target price of $45.00. Keefe, Bruyette & Woods’ target price suggests a potential upside of 36.46% from the stock’s current price.

ECPG has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Encore Capital Group from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Friday. ValuEngine cut shares of Encore Capital Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 10th. Northland Securities restated a “buy” rating and set a $40.00 target price on shares of Encore Capital Group in a research report on Thursday. Finally, BidaskClub upgraded shares of Encore Capital Group from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Encore Capital Group has an average rating of “Hold” and an average price target of $41.17.

Encore Capital Group stock traded up $0.53 during midday trading on Friday, hitting $36.64. 323,900 shares of the company’s stock were exchanged, compared to its average volume of 286,771. The company has a debt-to-equity ratio of 3.91, a quick ratio of 0.77 and a current ratio of 0.77. Encore Capital Group has a 12-month low of $20.38 and a 12-month high of $39.19. The firm’s 50 day simple moving average is $33.44 and its 200 day simple moving average is $34.29. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 7.36, a price-to-earnings-growth ratio of 0.40 and a beta of 1.46.

Encore Capital Group (NASDAQ:ECPG) last announced its quarterly earnings data on Wednesday, November 6th. The asset manager reported $1.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.25. Encore Capital Group had a net margin of 11.14% and a return on equity of 19.85%. The firm had revenue of $355.94 million during the quarter, compared to analysts’ expectations of $348.73 million. During the same quarter last year, the business earned $1.19 earnings per share. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities research analysts forecast that Encore Capital Group will post 5.64 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Encore Capital Group during the third quarter worth about $67,000. Russell Investments Group Ltd. purchased a new stake in Encore Capital Group in the third quarter valued at approximately $92,000. Tower Research Capital LLC TRC grew its holdings in Encore Capital Group by 615.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,862 shares of the asset manager’s stock valued at $97,000 after purchasing an additional 2,462 shares during the period. Parallax Volatility Advisers L.P. grew its holdings in Encore Capital Group by 115.7% in the second quarter. Parallax Volatility Advisers L.P. now owns 3,589 shares of the asset manager’s stock valued at $122,000 after purchasing an additional 26,517 shares during the period. Finally, Everence Capital Management Inc. purchased a new stake in Encore Capital Group in the second quarter valued at approximately $223,000.

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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Analyst Recommendations for Encore Capital Group (NASDAQ:ECPG)

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