Truist Financial Cuts Encore Capital Group (NASDAQ:ECPG) Price Target to $57.00

Encore Capital Group (NASDAQ:ECPG) had its price objective dropped by Truist Financial from $64.00 to $57.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the asset manager’s stock. Truist Financial’s target price indicates a potential upside of 51.11% from the company’s previous close.

Several other equities analysts have also commented on the stock. StockNews.com upgraded shares of Encore Capital Group from a “hold” rating to a “buy” rating in a research note on Friday, November 29th. Northland Securities upped their target price on shares of Encore Capital Group from $58.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. Finally, JMP Securities boosted their price target on shares of Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Encore Capital Group has an average rating of “Buy” and an average price target of $62.67.

Encore Capital Group Price Performance

Encore Capital Group stock opened at $37.72 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.39. The company has a fifty day simple moving average of $48.36 and a 200-day simple moving average of $47.97. The stock has a market cap of $893.62 million, a P/E ratio of -4.81 and a beta of 1.55. Encore Capital Group has a 12-month low of $35.38 and a 12-month high of $51.77.

Encore Capital Group (NASDAQ:ECPG) last announced its quarterly earnings results on Wednesday, February 26th. The asset manager reported $1.50 earnings per share (EPS) 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 business had revenue of $265.62 million for the quarter, compared to analysts’ expectations of $373.40 million. Equities analysts expect that Encore Capital Group will post 5.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Encore Capital Group

Institutional investors have recently modified their holdings of the business. Nomura Asset Management Co. Ltd. boosted its stake in Encore Capital Group by 120.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager’s stock worth $25,000 after purchasing an additional 290 shares during the period. Verition Fund Management LLC raised its holdings in shares of Encore Capital Group by 4.3% in the third quarter. Verition Fund Management LLC now owns 8,828 shares of the asset manager’s stock valued at $417,000 after buying an additional 364 shares during the last quarter. Sheets Smith Wealth Management grew its holdings in shares of Encore Capital Group by 3.0% during the fourth quarter. Sheets Smith Wealth Management now owns 14,278 shares of the asset manager’s stock worth $682,000 after buying an additional 416 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Encore Capital Group by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,317 shares of the asset manager’s stock worth $636,000 after buying an additional 460 shares during the last quarter. Finally, KBC Group NV raised its stake in Encore Capital Group by 54.9% during the 3rd quarter. KBC Group NV now owns 1,365 shares of the asset manager’s stock valued at $65,000 after acquiring an additional 484 shares during the last quarter.

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.