Truist Financial Has Lowered Expectations for Encore Capital Group (NASDAQ:ECPG) Stock Price

Encore Capital Group (NASDAQ:ECPG) had its price objective lowered by Truist Financial from $64.00 to $57.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the asset manager’s stock.

Several other analysts have also recently commented on ECPG. JMP Securities raised their target price on Encore Capital Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. Northland Securities increased their price target on shares of Encore Capital Group from $58.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Finally, StockNews.com upgraded shares of Encore Capital Group from a “hold” rating to a “buy” rating in a research report on Friday, November 29th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $62.67.

Encore Capital Group Stock Performance

ECPG opened at $38.95 on Thursday. The business has a fifty day simple moving average of $48.54 and a 200-day simple moving average of $48.04. The firm has a market cap of $922.76 million, a PE ratio of -4.96 and a beta of 1.55. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.39. Encore Capital Group has a fifty-two week low of $36.37 and a fifty-two week high of $51.77.

Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings results on Wednesday, February 26th. The asset manager reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.05). Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The company had revenue of $265.62 million during the quarter, compared to analysts’ expectations of $373.40 million. As a group, equities analysts predict that Encore Capital Group will post 5.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Encore Capital Group

Several hedge funds have recently bought and sold shares of ECPG. T. Rowe Price Investment Management Inc. boosted its stake in shares of Encore Capital Group by 30.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,416,499 shares of the asset manager’s stock worth $67,667,000 after acquiring an additional 327,637 shares in the last quarter. Portolan Capital Management LLC bought a new stake in Encore Capital Group during the fourth quarter worth approximately $10,291,000. Phase 2 Partners LLC grew its holdings in Encore Capital Group by 219.9% during the third quarter. Phase 2 Partners LLC now owns 241,509 shares of the asset manager’s stock valued at $11,416,000 after purchasing an additional 166,014 shares during the last quarter. Marshall Wace LLP raised its position in shares of Encore Capital Group by 73.1% in the fourth quarter. Marshall Wace LLP now owns 318,096 shares of the asset manager’s stock valued at $15,195,000 after purchasing an additional 134,309 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Encore Capital Group by 16.0% in the third quarter. Wellington Management Group LLP now owns 756,335 shares of the asset manager’s stock valued at $35,752,000 after purchasing an additional 104,509 shares during the period.

About Encore Capital Group

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.