JMP Securities Issues Positive Forecast for Encore Capital Group (NASDAQ:ECPG) Stock Price

Encore Capital Group (NASDAQ:ECPG) had its price target hoisted by JMP Securities from $60.00 to $65.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a market outperform rating on the asset manager’s stock.

A number of other equities research analysts also recently issued reports on the stock. Northland Capmk upgraded shares of Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Northland Securities raised shares of Encore Capital Group from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $55.00 to $58.00 in a research note on Thursday, October 17th. Finally, Truist Financial reduced their price objective on Encore Capital Group from $70.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $62.33.

Encore Capital Group Stock Performance

Shares of ECPG stock opened at $49.97 on Thursday. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -6.37 and a beta of 1.56. Encore Capital Group has a 1-year low of $39.64 and a 1-year high of $54.55. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 3.50. The stock’s fifty day simple moving average is $46.68 and its 200-day simple moving average is $45.71.

Encore Capital Group (NASDAQ:ECPG) last released its earnings results on Wednesday, November 6th. The asset manager reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.22). The business had revenue of $367.07 million for the quarter, compared to analysts’ expectations of $360.70 million. Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 13.00%. The company’s revenue was up 18.6% compared to the same quarter last year. During the same period last year, the firm earned $0.79 EPS. On average, sell-side analysts predict that Encore Capital Group will post 5.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Intech Investment Management LLC acquired a new stake in shares of Encore Capital Group in the 3rd quarter valued at $409,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Encore Capital Group by 177.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,550 shares of the asset manager’s stock valued at $1,066,000 after buying an additional 14,409 shares in the last quarter. Empowered Funds LLC raised its holdings in Encore Capital Group by 5.3% during the third quarter. Empowered Funds LLC now owns 84,812 shares of the asset manager’s stock valued at $4,009,000 after buying an additional 4,288 shares in the last quarter. Huntington National Bank lifted its position in shares of Encore Capital Group by 8,700.0% in the third quarter. Huntington National Bank now owns 528 shares of the asset manager’s stock worth $25,000 after buying an additional 522 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Encore Capital Group by 54.9% during the 3rd quarter. KBC Group NV now owns 1,365 shares of the asset manager’s stock worth $65,000 after acquiring an additional 484 shares in the last quarter.

About Encore Capital Group

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.