Encore Capital Group (NASDAQ:ECPG) Sets New 12-Month Low on Analyst Downgrade

Encore Capital Group, Inc. (NASDAQ:ECPG - Get Free Report) hit a new 52-week low during trading on Friday after StockNews.com downgraded the stock from a buy rating to a hold rating. The stock traded as low as $36.37 and last traded at $38.95, with a volume of 1769552 shares. The stock had previously closed at $49.86.

A number of other equities analysts have also recently issued reports on the stock. JMP Securities upped their price objective on shares of 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. Truist Financial decreased 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 research note on Thursday. Finally, Northland Securities increased their price target on Encore Capital Group from $58.00 to $66.00 and gave the company an "outperform" rating in a research note on Monday, December 23rd. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $62.67.

Institutional Investors Weigh In On Encore Capital Group

A number of institutional investors have recently added to or reduced their stakes in ECPG. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Encore Capital Group by 30.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,416,499 shares of the asset manager's stock worth $67,667,000 after purchasing an additional 327,637 shares during the period. Portolan Capital Management LLC bought a new position in Encore Capital Group during the 4th quarter worth $10,291,000. Phase 2 Partners LLC lifted its holdings in Encore Capital Group by 219.9% during the 3rd quarter. Phase 2 Partners LLC now owns 241,509 shares of the asset manager's stock worth $11,416,000 after buying an additional 166,014 shares during the period. Marshall Wace LLP grew its position in shares of Encore Capital Group by 73.1% in the 4th quarter. Marshall Wace LLP now owns 318,096 shares of the asset manager's stock valued at $15,195,000 after buying an additional 134,309 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Encore Capital Group by 16.0% in the third quarter. Wellington Management Group LLP now owns 756,335 shares of the asset manager's stock valued at $35,752,000 after buying an additional 104,509 shares during the period.

Encore Capital Group Trading Down 5.7 %

The firm has a 50 day moving average price of $48.36 and a two-hundred day moving average price of $47.97. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.39. The company has a market cap of $842.74 million, a price-to-earnings ratio of -4.53 and a beta of 1.55.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last released its earnings results on Wednesday, February 26th. The asset manager reported $1.50 earnings per share for the quarter, missing analysts' consensus estimates of $1.55 by ($0.05). The firm had revenue of $265.62 million for the quarter, compared to analyst estimates of $373.40 million. Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 12.70%. As a group, equities analysts forecast that Encore Capital Group, Inc. will post 5.09 earnings per share for the current year.

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.