Northland Securities Reiterates Buy Rating for Encore Capital Group (NASDAQ:ECPG)

Encore Capital Group (NASDAQ:ECPG)‘s stock had its “buy” rating restated by equities research analysts at Northland Securities in a note issued to investors on Thursday, AnalystRatings.com reports. They presently have a $40.00 price target on the asset manager’s stock. Northland Securities’ price objective suggests a potential upside of 9.17% from the stock’s current price.

ECPG has been the topic of a number of other reports. ValuEngine lowered shares of Encore Capital Group from a “sell” rating to a “strong sell” rating in a report on Thursday, October 10th. Zacks Investment Research lowered shares of Encore Capital Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. BidaskClub upgraded shares of Encore Capital Group from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods set a $45.00 target price on shares of Encore Capital Group and gave the stock a “buy” rating in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $41.17.

NASDAQ ECPG traded up $0.53 during trading hours on Thursday, hitting $36.64. 323,900 shares of the company’s stock traded hands, compared to its average volume of 286,771. The company has a market capitalization of $1.04 billion, a PE ratio of 7.36, a PEG ratio of 0.40 and a beta of 1.46. Encore Capital Group has a 52-week low of $20.38 and a 52-week high of $39.19. The company has a debt-to-equity ratio of 3.91, a current ratio of 0.77 and a quick ratio of 0.77. The firm’s 50-day moving average is $33.44 and its 200-day moving average is $34.29.

Encore Capital Group (NASDAQ:ECPG) last released its earnings results on Wednesday, November 6th. The asset manager reported $1.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.25. The company had revenue of $355.94 million for the quarter, compared to analyst estimates of $348.73 million. Encore Capital Group had a net margin of 11.14% and a return on equity of 19.85%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.19 EPS. Equities research analysts predict that Encore Capital Group will post 5.64 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. New York State Teachers Retirement System raised its position in Encore Capital Group by 0.7% during the second quarter. New York State Teachers Retirement System now owns 43,931 shares of the asset manager’s stock worth $1,488,000 after acquiring an additional 300 shares during the last quarter. Arizona State Retirement System raised its holdings in Encore Capital Group by 0.8% in the second quarter. Arizona State Retirement System now owns 39,870 shares of the asset manager’s stock valued at $1,350,000 after acquiring an additional 327 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in Encore Capital Group by 3.4% in the second quarter. Crossmark Global Holdings Inc. now owns 11,280 shares of the asset manager’s stock valued at $382,000 after acquiring an additional 367 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in Encore Capital Group by 2.1% in the second quarter. UBS Asset Management Americas Inc. now owns 19,196 shares of the asset manager’s stock valued at $650,000 after acquiring an additional 394 shares in the last quarter. Finally, Pinebridge Investments L.P. raised its holdings in Encore Capital Group by 2.0% in the second quarter. Pinebridge Investments L.P. now owns 27,381 shares of the asset manager’s stock valued at $927,000 after acquiring an additional 533 shares in the last quarter.

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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