Encore Capital Group (NASDAQ:ECPG) Reaches New 12-Month Low After Analyst Downgrade

Encore Capital Group, Inc. (NASDAQ:ECPG) shares reached a new 52-week low on Friday after Truist Financial lowered their price target on the stock from $64.00 to $57.00. Truist Financial currently has a buy rating on the stock. Encore Capital Group traded as low as $36.37 and last traded at $38.95, with a volume of 1769552 shares traded. The stock had previously closed at $49.86.

Several other equities research analysts have also weighed in on the company. Northland Securities raised their price objective on Encore Capital Group from $58.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. StockNews.com raised Encore Capital Group from a “hold” rating to a “buy” rating in a research note on Friday, November 29th. Finally, JMP Securities raised their target price on 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. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $62.67.

Institutional Trading of Encore Capital Group

Several hedge funds and other institutional investors have recently modified their holdings of ECPG. Huntington National Bank boosted its position in shares of Encore Capital Group by 8,700.0% in the third quarter. Huntington National Bank now owns 528 shares of the asset manager’s stock worth $25,000 after buying an additional 522 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Encore Capital Group by 120.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 290 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Encore Capital Group during the fourth quarter valued at $28,000. Sterling Capital Management LLC boosted its position in Encore Capital Group by 827.2% during the fourth quarter. Sterling Capital Management LLC now owns 751 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 670 shares during the last quarter. Finally, KBC Group NV boosted 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 valued at $65,000 after purchasing an additional 484 shares during the last quarter.

Encore Capital Group Trading Down 21.9 %

The stock has a market cap of $922.76 million, a price-to-earnings ratio of -4.96 and a beta of 1.55. 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 business has a 50-day moving average of $48.54 and a 200-day moving average of $48.04.

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

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.