Zacks Investment Research Lowers Encore Capital Group Inc (ECPG) to Sell
Zacks Investment Research downgraded shares of Encore Capital Group Inc (NASDAQ:ECPG) from a hold rating to a sell rating in a research note issued to investors on Tuesday.
According to Zacks, “Encore Capital Group is a leading provider of debt management and recovery solutions for consumers and property owners across a broad range of assets. Through its subsidiaries, the company purchases portfolios of consumer receivables from major banks, credit unions, and utility providers, and partners with individuals as they repay their obligations and work toward financial recovery. Through its Propel Financial Services subsidiary, the company assists property owners who are delinquent on their property taxes by structuring affordable monthly payment plans. Encore’s success and future growth are driven by its sophisticated and widespread use of analytics, its broad investments in data and behavioral science, the significant cost advantages provided by its highly-efficient operating model and proven investment strategy, and the company’s demonstrated commitment to conducting business ethically and in ways that support its consumers’ financial recovery. “
A number of other brokerages also recently commented on ECPG. Northland Securities restated a hold rating and issued a $44.00 target price on shares of Encore Capital Group in a research note on Friday, August 4th. Keefe, Bruyette & Woods reiterated a buy rating and set a $49.50 price target on shares of Encore Capital Group in a research report on Thursday, August 10th. BidaskClub downgraded Encore Capital Group from a buy rating to a hold rating in a research report on Tuesday, August 1st. Finally, ValuEngine upgraded Encore Capital Group from a buy rating to a strong-buy rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $40.13.
Shares of Encore Capital Group (ECPG) traded up $3.15 during midday trading on Tuesday, reaching $48.95. The company’s stock had a trading volume of 774,112 shares, compared to its average volume of 273,794. The company has a market capitalization of $1.17 billion, a PE ratio of 12.29 and a beta of 1.84. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 5.47.
Encore Capital Group (NASDAQ:ECPG) last issued its earnings results on Thursday, August 3rd. The asset manager reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. Encore Capital Group had a return on equity of 17.27% and a net margin of 8.18%. The firm had revenue of $290.92 million for the quarter, compared to the consensus estimate of $275.18 million. During the same quarter in the prior year, the business earned $1.29 earnings per share. The company’s revenue was up .5% compared to the same quarter last year. equities research analysts predict that Encore Capital Group will post 3.69 EPS for the current year.
A number of hedge funds have recently modified their holdings of the business. Broad Run Investment Management LLC boosted its position in Encore Capital Group by 0.6% during the second quarter. Broad Run Investment Management LLC now owns 2,912,052 shares of the asset manager’s stock worth $116,919,000 after purchasing an additional 17,188 shares in the last quarter. BlackRock Inc. boosted its position in Encore Capital Group by 1.1% during the second quarter. BlackRock Inc. now owns 2,511,735 shares of the asset manager’s stock worth $100,846,000 after purchasing an additional 27,239 shares in the last quarter. William Blair Investment Management LLC boosted its position in Encore Capital Group by 5.3% during the second quarter. William Blair Investment Management LLC now owns 2,370,092 shares of the asset manager’s stock worth $95,159,000 after purchasing an additional 119,655 shares in the last quarter. Vanguard Group Inc. boosted its position in Encore Capital Group by 3.4% during the second quarter. Vanguard Group Inc. now owns 2,199,637 shares of the asset manager’s stock worth $88,317,000 after purchasing an additional 71,478 shares in the last quarter. Finally, FMR LLC boosted its position in Encore Capital Group by 110.6% during the second quarter. FMR LLC now owns 1,298,705 shares of the asset manager’s stock worth $52,142,000 after purchasing an additional 682,097 shares in the last quarter.
Encore Capital Group Company Profile
Encore Capital Group, Inc, through its subsidiaries, is a specialty finance company providing debt recovery solutions for consumers and property owners across a range of financial assets. The Company operates through Portfolio Purchasing and Recovery segment. The Company’s geographical segments include the United States, Europe and other.
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