Analysts expect Encore Capital Group, Inc. (NASDAQ:ECPG) to report $273.65 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Encore Capital Group’s earnings, with the highest sales estimate coming in at $279.47 million and the lowest estimate coming in at $257.5 million. Encore Capital Group reported sales of $289.44 million during the same quarter last year, which indicates a negative year-over-year growth rate of 5.5%. The business is expected to announce its next quarterly earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Encore Capital Group will report full year sales of $273.65 million for the current year, with estimates ranging from $1.06 billion to $1.2 billion. For the next financial year, analysts expect that the business will report sales of $1.22 billion per share, with estimates ranging from $1.19 billion to $1.25 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Encore Capital Group.
Encore Capital Group (NASDAQ:ECPG) last released its earnings results on Thursday, May 4th. The asset manager reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.02. The firm had revenue of $271.94 million during the quarter, compared to analyst estimates of $280.93 million. Encore Capital Group had a net margin of 5.00% and a return on equity of 17.26%. The business’s revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.31 EPS.
Separately, Janney Montgomery Scott cut shares of Encore Capital Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $36.00 to $32.00 in a research note on Friday, February 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $26.75.
Several hedge funds have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan boosted its stake in Encore Capital Group by 1.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,260 shares of the asset manager’s stock worth $118,000 after buying an additional 80 shares in the last quarter. Mason Street Advisors LLC boosted its stake in Encore Capital Group by 7.3% in the first quarter. Mason Street Advisors LLC now owns 5,507 shares of the asset manager’s stock worth $170,000 after buying an additional 374 shares in the last quarter. Aperio Group LLC bought a new stake in Encore Capital Group during the third quarter worth about $205,000. UBS Asset Management Americas Inc. bought a new stake in Encore Capital Group during the first quarter worth about $212,000. Finally, Advisory Research Inc. bought a new stake in Encore Capital Group during the fourth quarter worth about $226,000.
COPYRIGHT VIOLATION WARNING: “$273.65 Million in Sales Expected for Encore Capital Group, Inc. (ECPG) This Quarter” was originally published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The original version of this news story can be read at https://www.chaffeybreeze.com/2017/05/20/273-65-million-in-sales-expected-for-encore-capital-group-inc-ecpg-this-quarter-updated.html.
Encore Capital Group (NASDAQ:ECPG) traded up 3.00% on Wednesday, reaching $36.00. 106,693 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $31.70 and its 200-day moving average is $29.38. Encore Capital Group has a 12 month low of $17.66 and a 12 month high of $36.20. The firm has a market cap of $926.53 million, a PE ratio of 12.83 and a beta of 1.54.
About Encore Capital Group
Encore Capital Group, Inc, through its subsidiaries, is a specialty finance company providing debt recovery solutions for consumers and property owners across a range of financial assets. The Company operates through Portfolio Purchasing and Recovery segment. The Company’s geographical segments include the United States, Europe and other.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Encore Capital Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encore Capital Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.