What is Northland Capmk’s Forecast for ECPG FY2024 Earnings?

Encore Capital Group, Inc. (NASDAQ:ECPG) – Stock analysts at Northland Capmk lowered their FY2024 EPS estimates for shares of Encore Capital Group in a report issued on Thursday, November 7th. Northland Capmk analyst M. Grondahl now expects that the asset manager will post earnings of $5.26 per share for the year, down from their prior estimate 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) last posted its quarterly earnings results on Wednesday, November 6th. The asset manager reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.22). Encore Capital Group had a positive return on equity of 13.00% and a negative net margin of 13.91%. The business had revenue of $367.07 million during the quarter, compared to the consensus estimate of $360.70 million. During the same period in the prior year, the firm earned $0.79 earnings per share. The business’s revenue for the quarter was up 18.6% on a year-over-year basis.

Other research analysts also recently issued reports about the stock. JMP Securities lifted their target price 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. Northland Securities upgraded shares of Encore Capital Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $55.00 to $58.00 in a research report on Thursday, October 17th. Finally, Truist Financial lowered 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. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $62.33.

Encore Capital Group Trading Up 0.3 %

NASDAQ ECPG opened at $49.97 on Friday. The firm has a market cap of $1.18 billion, a PE ratio of -6.37 and a beta of 1.56. Encore Capital Group has a 1-year low of $39.64 and a 1-year high of $54.55. The stock has a 50-day moving average of $46.68 and a 200-day moving average of $45.71. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 3.50.

Institutional Trading of Encore Capital Group

Large investors have recently added to or reduced their stakes in the stock. Huntington National Bank raised its holdings in Encore Capital Group by 8,700.0% in the 3rd quarter. Huntington National Bank now owns 528 shares of the asset manager’s stock worth $25,000 after purchasing an additional 522 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Encore Capital Group in the second quarter worth about $33,000. nVerses Capital LLC lifted its holdings in Encore Capital Group by 450.0% in the second quarter. nVerses Capital LLC now owns 1,100 shares of the asset manager’s stock worth $46,000 after buying an additional 900 shares during the period. KBC Group NV lifted its holdings in Encore Capital Group by 54.9% in the third quarter. KBC Group NV now owns 1,365 shares of the asset manager’s stock worth $65,000 after buying an additional 484 shares during the period. Finally, Innealta Capital LLC bought a new stake in Encore Capital Group during the 2nd quarter valued at approximately $60,000.

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.