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

Encore Capital Group, Inc. (NASDAQ:ECPG) shares reached a new 52-week low on Friday after StockNews.com downgraded the stock from a buy rating to a hold rating. The stock 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 analysts also recently weighed in on ECPG. Northland Securities lifted their target price on shares of Encore Capital Group from $58.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Truist Financial reduced their price objective on shares of Encore Capital Group from $64.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday. Finally, JMP Securities boosted their price objective on shares of Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $62.67.

Institutional Investors Weigh In On Encore Capital Group

Several hedge funds have recently bought and sold shares of ECPG. Huntington National Bank lifted its position in Encore Capital Group by 8,700.0% during the third quarter. Huntington National Bank now owns 528 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 522 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted 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. bought a new stake in Encore Capital Group during the fourth quarter valued at approximately $28,000. Sterling Capital Management LLC lifted 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 lifted 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 3.2 %

The firm has a market capitalization of $893.62 million, a P/E ratio of -4.81 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 firm’s 50-day simple moving average is $48.36 and its 200-day simple moving average is $47.97.

Encore Capital Group (NASDAQ:ECPG) last announced its earnings results on Wednesday, February 26th. The asset manager reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.05). The company had revenue of $265.62 million for the quarter, compared to the consensus estimate of $373.40 million. Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 12.70%. Analysts anticipate that Encore Capital Group, Inc. will post 5.09 EPS for the current year.

Encore Capital Group Company Profile

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.