Encore Capital Group (NASDAQ:ECPG) Issues Earnings Results

Encore Capital Group (NASDAQ:ECPG) announced its quarterly earnings data on Wednesday. The asset manager reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.21), Briefing.com reports. The firm had revenue of $367.07 million during the quarter, compared to analysts’ expectations of $360.70 million. Encore Capital Group had a positive return on equity of 11.12% and a negative net margin of 15.43%. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period last year, the company earned $0.79 earnings per share.

Encore Capital Group Price Performance

Shares of NASDAQ:ECPG traded up $0.03 during midday trading on Thursday, reaching $49.80. 370,799 shares of the company were exchanged, compared to its average volume of 149,620. 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 business’s fifty day moving average is $46.67 and its two-hundred day moving average is $45.60. Encore Capital Group has a one year low of $39.64 and a one year high of $54.55. The stock has a market cap of $1.18 billion, a PE ratio of -5.96 and a beta of 1.56.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Northland Securities raised shares of Encore Capital Group from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $55.00 to $58.00 in a research note on Thursday, October 17th. Truist Financial reduced 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 note on Tuesday, August 20th. JMP Securities increased 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 note on Thursday. Finally, Northland Capmk raised shares of Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $62.33.

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.