Northland Capmk Has Negative Outlook of ECPG FY2024 Earnings

Encore Capital Group, Inc. (NASDAQ:ECPG - Free Report) - Analysts at Northland Capmk decreased their FY2024 EPS estimates for Encore Capital Group in a research note issued to investors on Thursday, November 7th. Northland Capmk analyst M. Grondahl now anticipates that the asset manager will earn $5.26 per share for the year, down from their previous forecast of $5.45. Northland Capmk currently has a "Strong-Buy" rating on the stock. The consensus estimate for Encore Capital Group's current full-year earnings is $5.56 per share.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The asset manager reported $1.26 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.21). Encore Capital Group had a negative net margin of 15.43% and a positive return on equity of 11.12%. The company had revenue of $367.07 million during the quarter, compared to analysts' expectations of $360.70 million. During the same period last year, the business earned $0.79 earnings per share. The company's revenue for the quarter was up 18.6% compared to the same quarter last year.

A number of other research firms have also issued reports on ECPG. Northland Securities upgraded shares of Encore Capital Group from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $55.00 to $58.00 in a research note on Thursday, October 17th. JMP Securities lifted their price target on shares of Encore Capital Group from $60.00 to $65.00 and gave the stock a "market outperform" rating in a research note on Thursday. Finally, Truist Financial decreased their price objective on shares of 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 research 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 stock currently has a consensus rating of "Buy" and an average price target of $62.33.

Encore Capital Group Stock Up 0.3 %

Shares of NASDAQ:ECPG traded up $0.17 during mid-day trading on Friday, hitting $49.97. 162,290 shares of the company traded hands, compared to its average volume of 149,680. The firm's 50 day simple moving average is $46.68 and its 200 day simple moving average is $45.63. The firm has a market cap of $1.18 billion, a P/E 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 has a 52-week low of $39.64 and a 52-week high of $54.55.

Institutional Trading of Encore Capital Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Stephens Investment Management Group LLC grew its holdings in Encore Capital Group by 0.5% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,137,752 shares of the asset manager's stock worth $53,782,000 after acquiring an additional 5,373 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Encore Capital Group by 17.8% in the first quarter. Clearbridge Investments LLC now owns 394,786 shares of the asset manager's stock valued at $18,006,000 after buying an additional 59,624 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Encore Capital Group by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 182,117 shares of the asset manager's stock valued at $7,600,000 after buying an additional 1,650 shares in the last quarter. Marshall Wace LLP raised its stake in Encore Capital Group by 221.1% during the second quarter. Marshall Wace LLP now owns 130,127 shares of the asset manager's stock valued at $5,430,000 after buying an additional 89,596 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in Encore Capital Group by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 84,812 shares of the asset manager's stock worth $4,009,000 after buying an additional 4,288 shares during 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.