Encore Capital Group (NASDAQ:ECPG) Stock Gets Price Target Bump from Truist Financial

Encore Capital Group (NASDAQ:ECPG) had its target price increased by analysts at Truist Financial from $112.00 to $122.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the asset manager’s stock. Truist Financial‘s price target indicates a potential upside of 7.19% from the stock’s current price.

A number of other analysts have also weighed in on ECPG. Zacks Research lowered shares of Encore Capital Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Citigroup restated a “market outperform” rating on shares of Encore Capital Group in a research note on Thursday. Northland Securities set a $124.00 target price on Encore Capital Group in a report on Tuesday, October 13th. Weiss Ratings raised Encore Capital Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Finally, Citizens Jmp upped their price objective on Encore Capital Group from $115.00 to $140.00 and gave the stock a “market outperform” rating in a research report on Thursday. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $112.00.

Encore Capital Group Stock Performance

Shares of Encore Capital Group stock traded up $13.89 on Thursday, reaching $113.82. 127,338 shares of the stock were exchanged, compared to its average volume of 302,347. The business has a 50 day moving average price of $99.09 and a two-hundred day moving average price of $83.57. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 8.52 and a beta of 1.29. Encore Capital Group has a twelve month low of $46.80 and a twelve month high of $120.94. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 3.87.

Encore Capital Group (NASDAQ:ECPG) last posted its quarterly earnings results on Wednesday, November 4th. The asset manager reported $5.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.35 by $2.22. Encore Capital Group had a net margin of 15.86% and a return on equity of 29.83%. The company had revenue of $544.54 million during the quarter, compared to analyst estimates of $466.80 million. During the same period last year, the firm posted $3.17 EPS. Encore Capital Group’s revenue for the quarter was up 18.3% compared to the same quarter last year. Analysts anticipate that Encore Capital Group will post 13.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in Encore Capital Group by 185.9% in the 3rd quarter. Signaturefd LLC now owns 366 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 238 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Encore Capital Group by 40.4% during the third quarter. Farther Finance Advisors LLC now owns 386 shares of the asset manager’s stock worth $36,000 after buying an additional 111 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Encore Capital Group during the first quarter worth $46,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Encore Capital Group during the second quarter worth $89,000. Finally, GAMMA Investing LLC raised its position in shares of Encore Capital Group by 26.8% in the third quarter. GAMMA Investing LLC now owns 1,339 shares of the asset manager’s stock valued at $126,000 after buying an additional 283 shares during the last quarter.

Trending Headlines about Encore Capital Group

Here are the key news stories impacting Encore Capital Group this week:

• Positive Sentiment: Third-quarter EPS rose 76% year over year to $5.57, topping the roughly $3.35 analyst consensus. Revenue increased 18.3% to $544.5 million, also above estimates. Encore Capital Group Q3 results
• Positive Sentiment: Collections rose 14% to a record $754 million, while portfolio purchases totaled $390 million, including $310 million in the U.S. Management said U.S. purchasing conditions remain favorable, supporting the company’s ability to acquire portfolios and generate future collections. Third-quarter financial results
• Positive Sentiment: Citizens JMP raised its price target to $140 from $115 and maintained a “market outperform” rating, signaling increased analyst confidence after the results. Citizens JMP rating

Encore Capital Group Company Profile

Encore Capital Group, Inc is a specialty finance company that purchases portfolios of charged-off consumer receivables and provides debt recovery and management services. Through its operating businesses, the company works with consumers to resolve outstanding obligations through payment plans and other repayment arrangements.

Encore serves consumers and creditors across multiple markets, including the United States, the United Kingdom and other European countries. Its major operating platforms include Midland Credit Management in the United States and Cabot Credit Management in Europe.