Encore Capital Group (NASDAQ:ECPG) Posts Quarterly Earnings Results, Misses Expectations By $0.22 EPS

Encore Capital Group (NASDAQ:ECPG) posted its quarterly earnings results on Wednesday. The asset manager reported $1.26 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.22), Briefing.com reports. Encore Capital Group had a positive return on equity of 13.00% and a negative net margin of 13.91%. The company had revenue of $367.07 million during the quarter, compared to analysts’ expectations of $360.70 million. During the same period in the prior year, the business earned $0.79 EPS. The company’s quarterly revenue was up 18.6% on a year-over-year basis.

Encore Capital Group Stock Up 0.3 %

Shares of Encore Capital Group stock traded up $0.17 during trading hours on Friday, hitting $49.97. 162,823 shares of the company’s stock traded hands, compared to its average volume of 153,293. The company has a market cap of $1.18 billion, a PE ratio of -6.37 and a beta of 1.56. Encore Capital Group has a twelve month low of $39.64 and a twelve month high of $54.55. The stock has a 50 day simple moving average of $46.68 and a 200-day simple moving average of $45.68. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 3.50.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Northland Capmk upgraded shares of Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Northland Securities raised shares of Encore Capital Group from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $55.00 to $58.00 in a report on Thursday, October 17th. Truist Financial dropped their price target on shares of Encore Capital Group from $70.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Finally, JMP Securities boosted their price objective on shares of Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a report on Thursday. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $62.33.

Encore Capital Group Company Profile

Encore Capital Group, Inc, a specialty finance company, provides debt recovery solutions and other related services for consumers across 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.