Encore Capital Group (NASDAQ:ECPG) Sets New 52-Week Low on Analyst Downgrade

Encore Capital Group, Inc. (NASDAQ:ECPG) 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 trading hands. The stock had previously closed at $49.86.

ECPG has been the topic of a number of other reports. Northland Securities lifted 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 upgraded Encore Capital Group from a “hold” rating to a “buy” rating in a research note on Friday, November 29th. Finally, JMP Securities lifted their price objective on Encore Capital Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. Four equities research 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.com, the company has a consensus rating of “Buy” and a consensus target price of $62.67.

Institutional Investors Weigh In On Encore Capital Group

A number of institutional investors have recently added to or reduced their stakes in ECPG. T. Rowe Price Investment Management Inc. grew its position in Encore Capital Group by 30.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,416,499 shares of the asset manager’s stock worth $67,667,000 after buying an additional 327,637 shares in the last quarter. Portolan Capital Management LLC acquired a new stake in Encore Capital Group during the fourth quarter worth about $10,291,000. Phase 2 Partners LLC grew its position in Encore Capital Group by 219.9% during the third quarter. Phase 2 Partners LLC now owns 241,509 shares of the asset manager’s stock worth $11,416,000 after buying an additional 166,014 shares in the last quarter. Marshall Wace LLP grew its position in Encore Capital Group by 73.1% during the fourth quarter. Marshall Wace LLP now owns 318,096 shares of the asset manager’s stock worth $15,195,000 after buying an additional 134,309 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Encore Capital Group by 16.0% during the third quarter. Wellington Management Group LLP now owns 756,335 shares of the asset manager’s stock worth $35,752,000 after buying an additional 104,509 shares in the last quarter.

Encore Capital Group Trading Down 21.9 %

The firm has a market capitalization of $922.76 million, a price-to-earnings ratio of -4.96 and a beta of 1.55. The business has a 50-day moving average of $48.54 and a two-hundred day moving average of $48.04. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.39.

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