Oppenheimer set a $55.00 price target on Encore Capital Group (NASDAQ:ECPG) in a research note published on Wednesday. The firm currently has a buy rating on the asset manager’s stock. Oppenheimer also issued estimates for Encore Capital Group’s Q4 2018 earnings at $1.38 EPS, FY2018 earnings at $4.78 EPS and FY2019 earnings at $5.49 EPS.
A number of other equities analysts have also recently weighed in on ECPG. ValuEngine cut shares of Encore Capital Group from a strong-buy rating to a buy rating in a research report on Friday, May 11th. BidaskClub cut shares of Encore Capital Group from a hold rating to a sell rating in a research report on Monday, May 14th. Finally, Zacks Investment Research upgraded shares of Encore Capital Group from a sell rating to a buy rating and set a $51.00 price objective for the company in a research report on Wednesday, May 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Encore Capital Group has an average rating of Buy and an average target price of $52.30.
Encore Capital Group opened at $43.70 on Wednesday, Marketbeat reports. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 5.99. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 0.70 and a beta of 1.64. Encore Capital Group has a fifty-two week low of $35.30 and a fifty-two week high of $52.00.
Encore Capital Group (NASDAQ:ECPG) last posted its quarterly earnings data on Tuesday, May 8th. The asset manager reported $0.98 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.06). The company had revenue of $326.79 million for the quarter, compared to analyst estimates of $326.38 million. Encore Capital Group had a return on equity of 18.81% and a net margin of 6.68%. The business’s revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 earnings per share. equities research analysts predict that Encore Capital Group will post 4.77 EPS for the current year.
In other news, insider Paul Grinberg sold 18,773 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $41.88, for a total value of $786,213.24. Following the completion of the sale, the insider now directly owns 200,518 shares in the company, valued at $8,397,693.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.80% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Encore Capital Group by 3.1% in the first quarter. BlackRock Inc. now owns 3,117,650 shares of the asset manager’s stock valued at $140,916,000 after buying an additional 93,940 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Encore Capital Group by 0.4% in the fourth quarter. William Blair Investment Management LLC now owns 2,398,567 shares of the asset manager’s stock valued at $100,980,000 after buying an additional 9,526 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Encore Capital Group by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,324,251 shares of the asset manager’s stock valued at $59,856,000 after buying an additional 37,931 shares during the last quarter. Hennessy Advisors Inc. raised its position in shares of Encore Capital Group by 3.9% in the first quarter. Hennessy Advisors Inc. now owns 654,500 shares of the asset manager’s stock valued at $29,583,000 after buying an additional 24,400 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Encore Capital Group by 72.6% in the first quarter. Millennium Management LLC now owns 542,257 shares of the asset manager’s stock valued at $24,510,000 after buying an additional 228,145 shares during 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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