Encore Capital Group (NASDAQ:ECPG) Now Covered by Analysts at Buckingham Research

Buckingham Research assumed coverage on shares of Encore Capital Group (NASDAQ:ECPG) in a research note released on Thursday, January 3rd, The Fly reports. The firm issued a buy rating and a $38.00 target price on the asset manager’s stock.

Other equities research analysts also recently issued reports about the company. ValuEngine downgraded Encore Capital Group from a sell rating to a strong sell rating in a report on Thursday, October 4th. Oppenheimer downgraded Encore Capital Group from an outperform rating to a hold rating and set a $54.00 price objective on the stock. in a report on Tuesday, October 2nd. BidaskClub raised Encore Capital Group from a sell rating to a hold rating in a report on Tuesday, January 1st. Zacks Investment Research downgraded Encore Capital Group from a hold rating to a sell rating in a report on Tuesday, October 16th. Finally, UBS Group downgraded Encore Capital Group from an outperform rating to a market perform rating in a report on Tuesday, October 2nd. Two 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 stock. The company currently has a consensus rating of Hold and a consensus price target of $45.00.

Shares of ECPG opened at $27.80 on Thursday. Encore Capital Group has a 12-month low of $20.38 and a 12-month high of $47.80. The company has a debt-to-equity ratio of 4.58, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market cap of $840.72 million, a P/E ratio of 6.93, a PEG ratio of 0.39 and a beta of 1.79.

Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings results on Wednesday, November 7th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.19. The firm had revenue of $336.77 million for the quarter, compared to analyst estimates of $342.33 million. Encore Capital Group had a return on equity of 19.38% and a net margin of 6.13%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.14 earnings per share. Analysts anticipate that Encore Capital Group will post 4.74 EPS for the current fiscal year.

In other Encore Capital Group news, CFO Jonathan C. Clark bought 20,000 shares of the company’s stock in a transaction on Friday, November 9th. The stock was bought at an average price of $24.04 per share, for a total transaction of $480,800.00. Following the transaction, the chief financial officer now owns 89,774 shares of the company’s stock, valued at approximately $2,158,166.96. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ashish Masih acquired 12,500 shares of the stock in a transaction that occurred on Friday, November 9th. The stock was purchased at an average price of $24.26 per share, with a total value of $303,250.00. Following the transaction, the insider now owns 114,187 shares in the company, valued at $2,770,176.62. The disclosure for this purchase can be found here. Insiders own 1.76% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Teachers Advisors LLC increased its position in shares of Encore Capital Group by 4.0% in the 3rd quarter. Teachers Advisors LLC now owns 48,996 shares of the asset manager’s stock valued at $1,757,000 after buying an additional 1,863 shares in the last quarter. Vanguard Group Inc increased its position in shares of Encore Capital Group by 12.0% in the 3rd quarter. Vanguard Group Inc now owns 2,751,092 shares of the asset manager’s stock valued at $98,626,000 after buying an additional 294,742 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Encore Capital Group by 967,574.5% in the 3rd quarter. Clearbridge Investments LLC now owns 454,807 shares of the asset manager’s stock valued at $16,305,000 after buying an additional 454,760 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Encore Capital Group by 12.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,751,092 shares of the asset manager’s stock valued at $98,626,000 after buying an additional 294,742 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Encore Capital Group by 15.1% in the 3rd quarter. Legal & General Group Plc now owns 59,315 shares of the asset manager’s stock valued at $2,147,000 after buying an additional 7,787 shares in the last quarter.

About Encore Capital Group

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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