FY2024 Earnings Estimate for ECPG Issued By Northland Capmk

Encore Capital Group, Inc. (NASDAQ:ECPG) – Equities researchers at Northland Capmk dropped their FY2024 earnings estimates for Encore Capital Group in a research note issued on Thursday, November 7th. Northland Capmk analyst M. Grondahl now expects that the asset manager will post earnings per share of $5.26 for the year, down from their prior forecast 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 data on Wednesday, November 6th. The asset manager reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.21). The firm had revenue of $367.07 million for the quarter, compared to analyst estimates of $360.70 million. Encore Capital Group had a positive return on equity of 11.12% and a negative net margin of 15.43%. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.79 earnings per share.

ECPG has been the subject of several other research reports. JMP Securities increased 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 report on Thursday. Northland Securities raised Encore Capital Group from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $55.00 to $58.00 in a research report on Thursday, October 17th. Finally, Truist Financial reduced their price target 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. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Encore Capital Group has a consensus rating of “Buy” and an average target price of $62.33.

Encore Capital Group Trading Up 0.1 %

NASDAQ:ECPG opened at $49.80 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 3.50. Encore Capital Group has a twelve month low of $39.64 and a twelve month high of $54.55. The company has a market cap of $1.18 billion, a P/E ratio of -5.99 and a beta of 1.56. The business has a 50 day moving average price of $46.68 and a two-hundred day moving average price of $45.63.

Institutional Trading of Encore Capital Group

Institutional investors and hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC increased its stake in shares of Encore Capital Group by 7.4% during the first quarter. ProShare Advisors LLC now owns 4,692 shares of the asset manager’s stock worth $214,000 after purchasing an additional 323 shares during the period. Victory Capital Management Inc. grew its holdings in 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 buying an additional 403 shares in the last quarter. KBC Group NV increased its position in Encore Capital Group by 54.9% during the 3rd 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. Huntington National Bank boosted its position in shares of Encore Capital Group by 8,700.0% in the third quarter. Huntington National Bank now owns 528 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 522 shares during the period. Finally, Inspire Investing LLC increased its position in Encore Capital Group by 9.8% during the second quarter. Inspire Investing LLC now owns 8,536 shares of the asset manager’s stock worth $356,000 after acquiring an additional 759 shares during the period.

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.