Encore Capital Group (ECPG) Hits New 12-Month Low at $29.28

Encore Capital Group, Inc. (NASDAQ:ECPG)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $29.28 and last traded at $29.92, with a volume of 13045 shares. The stock had previously closed at $30.38.

A number of equities analysts have recently issued reports on ECPG shares. ValuEngine lowered shares of Encore Capital Group from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. Zacks Investment Research lowered shares of Encore Capital Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. BidaskClub upgraded shares of Encore Capital Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 11th. Oppenheimer reiterated a “buy” rating on shares of Encore Capital Group in a research report on Monday, July 16th. Finally, Northland Securities upgraded shares of Encore Capital Group from a “market perform” rating to an “outperform” rating and set a $37.00 target price on the stock in a research report on Thursday, August 9th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $49.75.

The company has a debt-to-equity ratio of 5.74, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market capitalization of $924.21 million, a price-to-earnings ratio of 6.65, a P/E/G ratio of 0.48 and a beta of 1.55.

Encore Capital Group (NASDAQ:ECPG) last posted its quarterly earnings results on Wednesday, August 8th. The asset manager reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.21. The business had revenue of $349.75 million during the quarter, compared to the consensus estimate of $335.05 million. Encore Capital Group had a net margin of 6.84% and a return on equity of 20.28%. Encore Capital Group’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 earnings per share. Equities analysts anticipate that Encore Capital Group, Inc. will post 4.8 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in shares of Encore Capital Group by 11.4% during the second quarter. BlackRock Inc. now owns 3,472,434 shares of the asset manager’s stock worth $127,092,000 after buying an additional 354,784 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Encore Capital Group by 9.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,454,193 shares of the asset manager’s stock worth $53,224,000 after buying an additional 129,942 shares during the last quarter. Millennium Management LLC raised its stake in shares of Encore Capital Group by 28.6% during the second quarter. Millennium Management LLC now owns 697,362 shares of the asset manager’s stock worth $25,523,000 after buying an additional 155,105 shares during the last quarter. Northern Trust Corp raised its stake in shares of Encore Capital Group by 7.3% during the second quarter. Northern Trust Corp now owns 673,970 shares of the asset manager’s stock worth $24,667,000 after buying an additional 45,877 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Encore Capital Group by 42,962.2% during the third quarter. Bank of Montreal Can now owns 400,909 shares of the asset manager’s stock worth $14,372,000 after buying an additional 399,978 shares during the last quarter.

About Encore Capital Group (NASDAQ:ECPG)

Encore Capital Group, Inc, a specialty finance company, together with its subsidiaries, provides debt recovery solutions and other related services for consumers across a range of 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.

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