BidaskClub Downgrades Encore Capital Group (NASDAQ:ECPG) to Sell

Encore Capital Group (NASDAQ:ECPG) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday, BidAskClub reports.

Several other equities research analysts have also issued reports on the stock. Zacks Investment Research raised shares of Encore Capital Group from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Friday, August 9th. Keefe, Bruyette & Woods set a $45.00 price objective on shares of Encore Capital Group and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Northland Securities reissued a “buy” rating and issued a $40.00 price objective on shares of Encore Capital Group in a research report on Thursday, August 8th. Finally, ValuEngine lowered shares of Encore Capital Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $40.67.

Shares of Encore Capital Group stock traded up $0.29 during trading hours on Friday, hitting $32.42. The company’s stock had a trading volume of 1,927 shares, compared to its average volume of 514,747. Encore Capital Group has a 1-year low of $20.38 and a 1-year high of $39.19. The business has a fifty day moving average of $34.98 and a 200 day moving average of $33.42. The company has a market capitalization of $1.00 billion, a PE ratio of 6.52, a P/E/G ratio of 0.38 and a beta of 1.47. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 3.91.

Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings data on Wednesday, August 7th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.28. Encore Capital Group had a net margin of 11.14% and a return on equity of 19.85%. The company had revenue of $346.87 million during the quarter, compared to analyst estimates of $353.89 million. During the same quarter in the prior year, the business earned $1.33 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. On average, sell-side analysts anticipate that Encore Capital Group will post 5.64 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake in shares of Encore Capital Group by 615.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,862 shares of the asset manager’s stock valued at $97,000 after purchasing an additional 2,462 shares during the period. Parallax Volatility Advisers L.P. boosted its stake in shares of Encore Capital Group by 115.7% in the second quarter. Parallax Volatility Advisers L.P. now owns 3,589 shares of the asset manager’s stock valued at $122,000 after purchasing an additional 26,517 shares during the period. Everence Capital Management Inc. purchased a new position in shares of Encore Capital Group in the second quarter valued at $223,000. Sigma Planning Corp boosted its stake in shares of Encore Capital Group by 9.1% in the second quarter. Sigma Planning Corp now owns 8,900 shares of the asset manager’s stock valued at $301,000 after purchasing an additional 743 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its stake in shares of 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 purchasing an additional 367 shares during the period.

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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