Zacks Investment Research Downgrades Encore Capital Group (NASDAQ:ECPG) to Hold

Zacks Investment Research lowered shares of Encore Capital Group (NASDAQ:ECPG) from a strong-buy rating to a hold rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “Encore Capital Group is a leading provider of debt management and recovery solutions for consumers and property owners across a broad range of assets. Through its subsidiaries, the company purchases portfolios of consumer receivables from major banks, credit unions, and utility providers, and partners with individuals as they repay their obligations and work toward financial recovery. Through its Propel Financial Services subsidiary, the company assists property owners who are delinquent on their property taxes by structuring affordable monthly payment plans. Encore’s success and future growth are driven by its sophisticated and widespread use of analytics, its broad investments in data and behavioral science, the significant cost advantages provided by its highly-efficient operating model and proven investment strategy, and the company’s demonstrated commitment to conducting business ethically and in ways that support its consumers’ financial recovery. “

ECPG has been the topic of a number of other reports. BidaskClub upgraded Zillow Group from a buy rating to a strong-buy rating in a research report on Tuesday, July 2nd. Oppenheimer set a $119.00 price objective on American Express and gave the company a buy rating in a research report on Wednesday, April 17th. Finally, ValuEngine lowered Yirendai from a sell rating to a strong sell rating in a research report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Encore Capital Group presently has an average rating of Hold and a consensus target price of $38.80.

NASDAQ ECPG opened at $34.75 on Wednesday. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 6.40, a PEG ratio of 0.49 and a beta of 1.50. The company has a debt-to-equity ratio of 4.11, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50 day simple moving average is $35.04. Encore Capital Group has a one year low of $20.38 and a one year high of $41.50.

Encore Capital Group (NASDAQ:ECPG) last announced its quarterly earnings data on Wednesday, May 8th. The asset manager reported $1.46 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.26. The firm had revenue of $347.08 million for the quarter, compared to analyst estimates of $349.76 million. Encore Capital Group had a return on equity of 21.02% and a net margin of 10.37%. On average, research analysts anticipate that Encore Capital Group will post 5.48 earnings per share for the current year.

Several large investors have recently bought and sold shares of ECPG. Pearl River Capital LLC bought a new position in shares of Encore Capital Group in the 1st quarter worth $40,000. Quantamental Technologies LLC bought a new position in shares of Encore Capital Group in the 1st quarter worth $121,000. Metropolitan Life Insurance Co. NY boosted its position in shares of Encore Capital Group by 329.0% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,108 shares of the asset manager’s stock worth $191,000 after purchasing an additional 6,218 shares during the last quarter. Sigma Planning Corp bought a new position in shares of Encore Capital Group in the 1st quarter worth $222,000. Finally, Victory Capital Management Inc. bought a new position in shares of Encore Capital Group in the 1st quarter worth $228,000.

Encore Capital Group Company Profile

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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Analyst Recommendations for Encore Capital Group (NASDAQ:ECPG)

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