Encore Capital Group (NASDAQ:ECPG) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Encore Capital Group (NASDAQ:ECPG - Get Free Report) released its earnings results on Wednesday. The asset manager reported $1.50 EPS for the quarter, missing analysts' consensus estimates of $1.55 by ($0.05), Zacks reports. Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 12.70%. The firm had revenue of $265.62 million during the quarter, compared to the consensus estimate of $373.40 million.

Encore Capital Group Price Performance

Encore Capital Group stock traded down $1.23 during mid-day trading on Friday, hitting $37.72. The stock had a trading volume of 1,318,482 shares, compared to its average volume of 225,384. Encore Capital Group has a one year low of $35.38 and a one year high of $51.77. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.39. The firm has a market capitalization of $893.62 million, a P/E ratio of -4.81 and a beta of 1.55. The firm's 50 day moving average is $48.36 and its 200 day moving average is $47.97.

Analysts Set New Price Targets

A number of brokerages have commented on ECPG. StockNews.com cut shares of Encore Capital Group from a "buy" rating to a "hold" rating in a research report on Friday. Northland Securities lifted their price target on shares of Encore Capital Group from $58.00 to $66.00 and gave the company an "outperform" rating in a report on Monday, December 23rd. JMP Securities increased their target price on Encore Capital Group from $60.00 to $65.00 and gave the stock a "market outperform" rating in a research report on Thursday, November 7th. Finally, Truist Financial dropped their target price on shares of Encore Capital Group from $64.00 to $57.00 and set a "buy" rating on the stock in a report on Thursday. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Encore Capital Group currently has a consensus rating of "Buy" and an average target price of $62.67.

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.