Encore Capital Group (NASDAQ:ECPG) Given New $65.00 Price Target at JMP Securities

Encore Capital Group (NASDAQ:ECPG - Free Report) had its price objective increased by JMP Securities from $60.00 to $65.00 in a research note published on Thursday,Benzinga reports. JMP Securities currently has a market outperform rating on the asset manager's stock.

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

Encore Capital Group Trading Up 0.1 %

NASDAQ:ECPG traded up $0.03 on Thursday, reaching $49.80. The company's stock had a trading volume of 370,799 shares, compared to its average volume of 149,620. Encore Capital Group has a 1-year low of $39.64 and a 1-year high of $54.55. The business's 50-day moving average price is $46.68 and its two-hundred day moving average price is $45.63. The firm has a market cap of $1.18 billion, a PE ratio of -5.99 and a beta of 1.56. The company has a debt-to-equity ratio of 3.50, a quick ratio of 1.27 and a current ratio of 1.27.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The asset manager reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.21). The business had revenue of $367.07 million during the quarter, compared to analyst estimates of $360.70 million. Encore Capital Group had a negative net margin of 15.43% and a positive return on equity of 11.12%. Encore Capital Group's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 earnings per share. Equities research analysts anticipate that Encore Capital Group will post 5.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Encore Capital Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ECPG. ProShare Advisors LLC raised its stake in shares of Encore Capital Group by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 4,692 shares of the asset manager's stock worth $214,000 after purchasing an additional 323 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Encore Capital Group by 8.8% during the second quarter. Victory Capital Management Inc. now owns 4,980 shares of the asset manager's stock worth $208,000 after purchasing an additional 403 shares during the period. KBC Group NV increased its position in Encore Capital Group by 54.9% during the third quarter. KBC Group NV now owns 1,365 shares of the asset manager's stock worth $65,000 after buying an additional 484 shares during the last quarter. Huntington National Bank raised its stake in Encore Capital Group by 8,700.0% in the third quarter. Huntington National Bank now owns 528 shares of the asset manager's stock valued at $25,000 after buying an additional 522 shares during the period. Finally, Inspire Investing LLC boosted its stake in shares of Encore Capital Group by 9.8% during the 2nd quarter. Inspire Investing LLC now owns 8,536 shares of the asset manager's stock worth $356,000 after acquiring an additional 759 shares during the period.

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.