Encore Capital Group (NASDAQ:ECPG) Stock Rating Reaffirmed by JMP Securities

Encore Capital Group (NASDAQ:ECPG)‘s stock had its “market outperform” rating reaffirmed by research analysts at JMP Securities in a report issued on Monday, Benzinga reports. They presently have a $60.00 target price on the asset manager’s stock. JMP Securities’ target price points to a potential upside of 32.42% from the stock’s current price.

Separately, Truist Financial lowered their price objective on 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.

Encore Capital Group Trading Up 1.3 %

ECPG opened at $45.31 on Monday. Encore Capital Group has a 12 month low of $34.74 and a 12 month high of $54.55. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -5.28 and a beta of 1.55. The company has a debt-to-equity ratio of 3.50, a current ratio of 1.27 and a quick ratio of 1.27. The business has a fifty day moving average price of $47.49 and a 200 day moving average price of $45.25.

Encore Capital Group (NASDAQ:ECPG) last released its earnings results on Wednesday, August 7th. The asset manager reported $1.34 EPS for the quarter, topping the consensus estimate of $1.24 by $0.10. The firm had revenue of $355.29 million during the quarter, compared to analysts’ expectations of $346.06 million. Encore Capital Group had a positive return on equity of 11.12% and a negative net margin of 15.43%. Encore Capital Group’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 EPS. Sell-side analysts expect that Encore Capital Group will post 5.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC boosted its position 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 acquiring an additional 323 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Encore Capital Group by 8.8% in the 2nd quarter. Victory Capital Management Inc. now owns 4,980 shares of the asset manager’s stock valued at $208,000 after purchasing an additional 403 shares during the period. Inspire Investing LLC boosted its position in shares of Encore Capital Group by 9.8% in the 2nd quarter. Inspire Investing LLC now owns 8,536 shares of the asset manager’s stock valued at $356,000 after purchasing an additional 759 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Encore Capital Group in the 2nd quarter valued at about $33,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Encore Capital Group by 7.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,647 shares of the asset manager’s stock valued at $486,000 after purchasing an additional 790 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.