Equities Analysts Set Expectations for Encore Capital Group, Inc.’s Q3 2024 Earnings (NASDAQ:ECPG)

Encore Capital Group, Inc. (NASDAQ:ECPG) – Stock analysts at Northland Capmk reduced their Q3 2024 earnings per share estimates for Encore Capital Group in a report issued on Thursday, May 9th. Northland Capmk analyst M. Grondahl now expects that the asset manager will earn $1.50 per share for the quarter, down from their previous estimate of $1.65. The consensus estimate for Encore Capital Group’s current full-year earnings is $5.93 per share. Northland Capmk also issued estimates for Encore Capital Group’s Q4 2024 earnings at $1.72 EPS.

A number of other research analysts have also weighed in on the stock. TheStreet lowered shares of Encore Capital Group from a “c-” rating to a “d+” rating in a research note on Monday, March 18th. JMP Securities reiterated a “market outperform” rating and set a $60.00 price objective on shares of Encore Capital Group in a research note on Monday.

Encore Capital Group Stock Performance

NASDAQ ECPG opened at $48.10 on Friday. The firm has a market cap of $1.14 billion, a P/E ratio of -5.48 and a beta of 1.38. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 3.54. The company’s 50 day moving average is $44.70 and its 200-day moving average is $46.44. Encore Capital Group has a 12-month low of $34.74 and a 12-month high of $54.73.

Encore Capital Group (NASDAQ:ECPG) last announced its quarterly earnings data on Wednesday, May 8th. The asset manager reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.01. The company had revenue of $328.39 million during the quarter, compared to analyst estimates of $330.83 million. Encore Capital Group had a positive return on equity of 9.46% and a negative net margin of 16.89%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 EPS.

Hedge Funds Weigh In On Encore Capital Group

A number of hedge funds and other institutional investors have recently bought and sold shares of ECPG. FMR LLC grew its position in Encore Capital Group by 0.7% in the third quarter. FMR LLC now owns 1,679,467 shares of the asset manager’s stock worth $80,211,000 after acquiring an additional 11,195 shares in the last quarter. Stephens Investment Management Group LLC boosted its holdings in shares of Encore Capital Group by 77.8% in the 4th quarter. Stephens Investment Management Group LLC now owns 916,922 shares of the asset manager’s stock worth $46,534,000 after purchasing an additional 401,324 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Encore Capital Group by 9.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 412,098 shares of the asset manager’s stock valued at $20,914,000 after purchasing an additional 36,371 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Encore Capital Group by 13.0% during the 3rd quarter. Schroder Investment Management Group now owns 396,879 shares of the asset manager’s stock valued at $18,955,000 after buying an additional 45,598 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in Encore Capital Group by 0.7% in the 4th quarter. Clearbridge Investments LLC now owns 335,162 shares of the asset manager’s stock worth $17,009,000 after buying an additional 2,242 shares during the last quarter.

Insider Buying and Selling at Encore Capital Group

In other news, insider Ryan B. Bell sold 5,500 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $50.00, for a total value of $275,000.00. Following the transaction, the insider now owns 42,404 shares of the company’s stock, valued at $2,120,200. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.90% of the company’s stock.

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.