Zacks Investment Research upgraded shares of Encore Capital Group (NASDAQ:ECPG) from a hold rating to a buy rating in a research note published on Tuesday morning, Zacks.com reports. The brokerage currently has $37.00 price objective on the asset manager’s stock.
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. “
Several other analysts also recently commented on ECPG. BidaskClub raised shares of Zillow Group from a buy rating to a strong-buy rating in a report on Tuesday, July 2nd. Oppenheimer set a $119.00 target price on shares of American Express and gave the company a buy rating in a research note on Wednesday, April 17th. Finally, ValuEngine cut shares of Yirendai from a sell rating to a strong sell rating in a research note on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Encore Capital Group has an average rating of Hold and a consensus price target of $38.20.
Shares of ECPG stock traded down $0.03 during trading hours on Tuesday, hitting $34.27. The company’s stock had a trading volume of 28,461 shares, compared to its average volume of 226,852. The stock has a 50 day simple moving average of $34.84. The stock has a market cap of $1.06 billion, a PE ratio of 6.88, a PEG ratio of 0.48 and a beta of 1.50. The company has a debt-to-equity ratio of 4.11, a quick ratio of 0.85 and a current ratio of 0.85. Encore Capital Group has a 12-month low of $20.38 and a 12-month high of $41.50.
Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings data on Wednesday, May 8th. The asset manager reported $1.46 EPS for the quarter, beating the consensus estimate of $1.20 by $0.26. The business had revenue of $347.08 million for the quarter, compared to the consensus estimate of $349.76 million. Encore Capital Group had a net margin of 10.37% and a return on equity of 21.02%. Research analysts expect that Encore Capital Group will post 5.48 EPS for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of ECPG. Pearl River Capital LLC acquired a new position in Encore Capital Group during the first quarter worth $40,000. Quantamental Technologies LLC acquired a new position in Encore Capital Group during the first quarter worth $121,000. Metropolitan Life Insurance Co. NY raised its position in Encore Capital Group by 329.0% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,108 shares of the asset manager’s stock worth $191,000 after acquiring an additional 6,218 shares during the period. Sigma Planning Corp acquired a new position in Encore Capital Group during the first quarter worth $222,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Encore Capital Group during the first quarter worth $228,000.
Encore Capital Group Company Profile
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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