Wall Street analysts expect that Encore Capital Group Inc (NASDAQ:ECPG) will report $282.21 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Encore Capital Group’s earnings, with the highest sales estimate coming in at $288.70 million and the lowest estimate coming in at $268.60 million. Encore Capital Group reported sales of $179.42 million in the same quarter last year, which indicates a positive year over year growth rate of 57.3%. The business is scheduled to issue its next quarterly earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that Encore Capital Group will report full-year sales of $282.21 million for the current fiscal year, with estimates ranging from $1.11 billion to $1.14 billion. For the next financial year, analysts forecast that the firm will report sales of $1.20 billion per share, with estimates ranging from $1.15 billion to $1.25 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Encore Capital Group.
Encore Capital Group (NASDAQ:ECPG) last issued its earnings results on Thursday, August 3rd. The asset manager reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.05. Encore Capital Group had a net margin of 6.28% and a return on equity of 12.38%. The company had revenue of $290.92 million during the quarter, compared to analysts’ expectations of $275.18 million. During the same period last year, the company posted $1.29 earnings per share. The firm’s quarterly revenue was up .5% compared to the same quarter last year.
A number of analysts have recently weighed in on ECPG shares. Zacks Investment Research raised shares of Encore Capital Group from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Friday, June 9th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $49.50 price target on shares of Encore Capital Group in a research note on Thursday. BidaskClub lowered shares of Encore Capital Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Northland Securities reaffirmed a “hold” rating and issued a $44.00 price target on shares of Encore Capital Group in a research note on Friday, August 4th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $37.58.
Encore Capital Group (ECPG) opened at 40.10 on Friday. The stock has a market capitalization of $1.03 billion, a PE ratio of 16.43 and a beta of 1.76. Encore Capital Group has a one year low of $17.66 and a one year high of $43.65. The firm has a 50-day moving average of $40.51 and a 200-day moving average of $35.48.
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A number of hedge funds have recently added to or reduced their stakes in ECPG. State of Alaska Department of Revenue raised its stake in Encore Capital Group by 79.7% in the second quarter. State of Alaska Department of Revenue now owns 4,672 shares of the asset manager’s stock valued at $187,000 after buying an additional 2,072 shares in the last quarter. Nisa Investment Advisors LLC acquired a new stake in Encore Capital Group during the second quarter valued at approximately $201,000. Mason Street Advisors LLC raised its stake in Encore Capital Group by 7.3% in the first quarter. Mason Street Advisors LLC now owns 5,507 shares of the asset manager’s stock valued at $170,000 after buying an additional 374 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new stake in Encore Capital Group during the first quarter valued at approximately $212,000. Finally, Russell Investments Group Ltd. acquired a new stake in Encore Capital Group during the first quarter valued at approximately $232,000.
Encore Capital Group Company Profile
Encore Capital Group, Inc, through its subsidiaries, is a specialty finance company providing debt recovery solutions for consumers and property owners across a range of financial assets. The Company operates through Portfolio Purchasing and Recovery segment. The Company’s geographical segments include the United States, Europe and other.
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