Encore Capital Group Inc (ECPG) Lowered to Buy at BidaskClub

Encore Capital Group Inc (NASDAQ:ECPG) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday, July 24th.

Several other equities research analysts have also issued reports on ECPG. Zacks Investment Research lowered Encore Capital Group from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Keefe, Bruyette & Woods started coverage on Encore Capital Group in a report on Wednesday, May 24th. They set an “outperform” rating and a $45.00 price target for the company. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $37.58.

Shares of Encore Capital Group (ECPG) opened at 39.05 on Monday. The stock has a market capitalization of $1.01 billion, a PE ratio of 16.00 and a beta of 1.76. The firm has a 50-day moving average of $40.36 and a 200 day moving average of $35.80. Encore Capital Group has a 52-week low of $17.66 and a 52-week high of $43.65.

Encore Capital Group (NASDAQ:ECPG) last announced its quarterly earnings results on Thursday, August 3rd. The asset manager reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.05. The business had revenue of $290.92 million during the quarter, compared to analyst estimates of $275.18 million. Encore Capital Group had a return on equity of 12.38% and a net margin of 6.28%. The firm’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company earned $1.29 EPS. Equities research analysts forecast that Encore Capital Group will post $3.69 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of ECPG. Broad Run Investment Management LLC increased its position in shares of Encore Capital Group by 0.6% in the second quarter. Broad Run Investment Management LLC now owns 2,912,052 shares of the asset manager’s stock valued at $116,919,000 after buying an additional 17,188 shares in the last quarter. BlackRock Inc. increased its position in shares of Encore Capital Group by 1.1% in the second quarter. BlackRock Inc. now owns 2,511,735 shares of the asset manager’s stock valued at $100,846,000 after buying an additional 27,239 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Encore Capital Group by 5.3% in the second quarter. William Blair Investment Management LLC now owns 2,370,092 shares of the asset manager’s stock valued at $95,159,000 after buying an additional 119,655 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Encore Capital Group by 3.4% in the second quarter. Vanguard Group Inc. now owns 2,199,637 shares of the asset manager’s stock valued at $88,317,000 after buying an additional 71,478 shares in the last quarter. Finally, FMR LLC increased its position in shares of Encore Capital Group by 110.6% in the second quarter. FMR LLC now owns 1,298,705 shares of the asset manager’s stock valued at $52,142,000 after buying an additional 682,097 shares in the last quarter.

About Encore Capital Group

Encore Capital Group, Inc, through its subsidiaries, is a specialty finance company providing debt recovery solutions for consumers and property owners across a range of financial assets. The Company operates through Portfolio Purchasing and Recovery segment. The Company’s geographical segments include the United States, Europe and other.

Analyst Recommendations for Encore Capital Group (NASDAQ:ECPG)

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