Encore Capital Group (NASDAQ:ECPG) Price Target Raised to $140.00

Key Points

• Citizens JMP raised its price target on Encore Capital Group from $115 to $140 and maintained a “market outperform” rating, implying 39.7% upside from the prior close.
• Encore reported quarterly EPS of $5.57, beating the $3.35 consensus, while revenue of $544.54 million exceeded estimates and rose 18.3% year over year.
• Analyst sentiment is broadly positive: five analysts rate the stock Buy and one rates it Hold, for a “Moderate Buy” consensus; the average price target is $109.50.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) had its price target hoisted by analysts at Citizens Jmp from $115.00 to $140.00 in a report released on Thursday, Benzinga reports. The firm presently has a "market outperform" rating on the asset manager's stock. Citizens Jmp's target price points to a potential upside of 39.70% from the stock's previous close.

Other analysts also recently issued reports about the company. Citigroup reiterated a "market outperform" rating on shares of Encore Capital Group in a report on Thursday. Weiss Ratings upgraded shares of Encore Capital Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Truist Financial boosted their price objective on Encore Capital Group from $105.00 to $112.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Zacks Research lowered Encore Capital Group from a "strong-buy" rating to a "hold" rating in a report on Monday, October 5th. Finally, Northland Securities set a $124.00 target price on Encore Capital Group in a report on Tuesday, October 13th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $109.50.

Encore Capital Group Price Performance

Shares of NASDAQ:ECPG opened at $100.22 on Thursday. The company has a 50-day simple moving average of $99.09 and a 200-day simple moving average of $83.57. Encore Capital Group has a one year low of $41.10 and a one year high of $105.98. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 7.59 and a beta of 1.29.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The asset manager reported $5.57 earnings per share for the quarter, topping analysts' consensus estimates of $3.35 by $2.22. The business had revenue of $544.54 million for the quarter, compared to analysts' expectations of $466.80 million. Encore Capital Group had a net margin of 15.86% and a return on equity of 29.83%. The business's revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.17 EPS. On average, analysts predict that Encore Capital Group will post 13.52 EPS for the current year.

Hedge Funds Weigh In On Encore Capital Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in ECPG. BlackRock Inc. acquired a new stake in Encore Capital Group in the second quarter valued at approximately $343,229,000. Heartland Advisors Inc. bought a new position in shares of Encore Capital Group during the second quarter valued at approximately $33,848,000. Amundi raised its holdings in Encore Capital Group by 3,134.1% in the 2nd quarter. Amundi now owns 304,202 shares of the asset manager's stock worth $28,379,000 after acquiring an additional 294,796 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Encore Capital Group by 658.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 334,018 shares of the asset manager's stock valued at $23,421,000 after buying an additional 289,964 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Encore Capital Group during the second quarter valued at about $11,664,000.

Encore Capital Group Company Profile

Encore Capital Group, Inc is a specialty finance company that purchases portfolios of charged-off consumer receivables and provides debt recovery and management services. Through its operating businesses, the company works with consumers to resolve outstanding obligations through payment plans and other repayment arrangements.

Encore serves consumers and creditors across multiple markets, including the United States, the United Kingdom and other European countries. Its major operating platforms include Midland Credit Management in the United States and Cabot Credit Management in Europe.

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