Janney Montgomery Scott Issues Positive Forecast for Encore Capital Group (NASDAQ:ECPG) Stock Price

by · The Markets Daily

Encore Capital Group (NASDAQ:ECPG – Get Free Report) had its price target raised by equities research analysts at Janney Montgomery Scott from $56.00 to $62.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the asset manager’s stock. Janney Montgomery Scott’s price target suggests a potential upside of 31.08% from the stock’s previous close.

ECPG has been the topic of a number of other reports. Zacks Research raised Encore Capital Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Encore Capital Group in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.50.

Check Out Our Latest Stock Analysis on Encore Capital Group

Encore Capital Group Price Performance

ECPG traded up $4.55 during trading hours on Thursday, hitting $47.30. The company’s stock had a trading volume of 540,636 shares, compared to its average volume of 291,582. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -12.85 and a beta of 1.43. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 4.43. The business’s 50-day moving average price is $43.03 and its 200-day moving average price is $40.13. Encore Capital Group has a 12 month low of $26.45 and a 12 month high of $51.77.

Encore Capital Group (NASDAQ:ECPG – Get Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The asset manager reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $1.25. The business had revenue of $460.35 million during the quarter, compared to the consensus estimate of $410.70 million. Encore Capital Group had a negative net margin of 6.07% and a positive return on equity of 19.61%. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 earnings per share. Sell-side analysts expect that Encore Capital Group will post 5.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ECPG. Heartland Advisors Inc. bought a new position in Encore Capital Group during the first quarter worth $10,118,000. Stephens Investment Management Group LLC lifted its position in shares of Encore Capital Group by 9.1% during the 2nd quarter. Stephens Investment Management Group LLC now owns 1,248,831 shares of the asset manager’s stock valued at $48,342,000 after acquiring an additional 104,367 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Encore Capital Group by 13.0% during the first quarter. Wellington Management Group LLP now owns 790,392 shares of the asset manager’s stock valued at $27,095,000 after acquiring an additional 91,019 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Encore Capital Group by 476.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 92,978 shares of the asset manager’s stock valued at $3,599,000 after purchasing an additional 76,852 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in Encore Capital Group by 38.6% in the 1st quarter. Allianz Asset Management GmbH now owns 196,004 shares of the asset manager’s stock worth $6,719,000 after buying an additional 54,568 shares in the last quarter.

About Encore Capital Group

(Get Free Report)

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.

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