Encore Capital Group (NASDAQ: ECPG) cut to “hold” at Zacks Investment Research

0

Encore Capital Group (NASDAQ: ECPG – Get an Assessment) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report released on Monday, Zacks.com reports.

The ECPG has been the subject of several other research reports. Northland Securities raised its price target on Encore Capital Group from $75.00 to $80.00 and gave the company an “outperform” rating in a Tuesday, Feb. 15 research report. StockNews.com upgraded Encore Capital Group from a “hold” rating to a “buy” rating in a Friday, May 6 research report. Finally, Truist Financial raised its price target on Encore Capital Group from $70.00 to $87.00 in a Thursday, February 24 research report. One analyst gave the stock a hold rating and three gave the company’s stock a buy rating. According to MarketBeat.com, the stock has a consensus buy rating and an average target price of $77.25.

Shares of NASDAQ ECPG traded at $0.20 in Monday’s midday session, hitting $60.56. 188,576 shares of shares traded in hands, compared to its average volume of 374,796. The company has a market capitalization of $1.47 billion, a PE ratio of 4.13 and a beta of 1.28. Encore Capital Group has a one-year low of $43.24 and a one-year high of $72.67. The company has a 50-day moving average price of $59.78 and a two-hundred-day moving average price of $62.10. The company has a debt ratio of 2.35, a quick ratio of 0.70 and a current ratio of 0.70.

Encore Capital Group (NASDAQ:ECPG – Get Rating) last released its quarterly earnings data on Wednesday, May 4. The asset manager reported EPS of $6.40 for the quarter, beating the consensus estimate of $2.00 by $4.40. The company posted revenue of $499.60 million in the quarter, versus a consensus estimate of $347.08 million. Encore Capital Group achieved a return on equity of 33.89% and a net margin of 25.45%. The company’s quarterly revenue increased 19.9% ​​year over year. In the same quarter a year earlier, the company posted earnings per share of $2.97. As a group, equity research analysts expect Encore Capital Group to post EPS of 12.88 for the current fiscal year.

In other Encore Capital Group news, insider Ryan B. Bell sold 6,662 shares of the company in a trade on Friday, March 11. The stock was sold at an average price of $63.60, for a total value of $423,703.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.01% of the shares are currently held by insiders.

Hedge funds have recently been buying and selling shares of the company. Dynamic Technology Lab Private Ltd increased its position in Encore Capital Group shares by 134.5% during the first quarter. Dynamic Technology Lab Private Ltd now owns 22,935 shares in the asset manager valued at $1,439,000 after buying an additional 13,155 shares in the last quarter. PDT Partners LLC increased its position in Encore Capital Group shares by 125.1% during the 1st quarter. PDT Partners LLC now owns 16,585 shares of the asset manager valued at $1,040,000 after purchasing an additional 9,216 shares in the last quarter. Captrust Financial Advisors increased its position in Encore Capital Group shares by 4.1% during the first quarter. Captrust Financial Advisors now owns 28,842 shares of the asset manager valued at $1,809,000 after buying an additional 1,130 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Encore Capital Group during Q1 at a value of $603,000. Finally, Vident Investment Advisory LLC bought a new position in shares of Encore Capital Group during the 1st quarter at a value of $2,007,000.

Encore Capital Group Company Profile (Get an evaluation)

Encore Capital Group, Inc., a specialty finance company, provides debt collection solutions and other related services to consumers across financial assets worldwide. The company buys portfolios of defaulted consumer debt at deep discounts to face value, and manages them by working with individuals as they repay their obligations and work toward financial recovery.

Read more

Get a Free Copy of Zacks’ Research Report on Encore Capital Group (ECPG)

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in Encore Capital Group right now?

Before you consider Encore Capital Group, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market goes higher…and Encore Capital Group was not on the list.

Although Encore Capital Group currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here

Share.

About Author

Comments are closed.