Encore Capital Group, Inc. (NASDAQ:ECPG) – Stock analysts at SunTrust Banks increased their Q1 2018 earnings per share estimates for shares of Encore Capital Group in a report issued on Wednesday. SunTrust Banks analyst M. Hughes now anticipates that the asset manager will post earnings per share of $1.05 for the quarter, up from their prior estimate of $0.86. SunTrust Banks currently has a “Buy” rating and a $57.00 price target on the stock. SunTrust Banks also issued estimates for Encore Capital Group’s Q3 2018 earnings at $1.20 EPS, FY2018 earnings at $4.70 EPS and FY2019 earnings at $5.50 EPS.
A number of other research firms have also recently commented on ECPG. Oppenheimer started coverage on Encore Capital Group in a research note on Monday, January 8th. They set a “buy” rating and a $53.00 price target on the stock. BidaskClub cut Encore Capital Group from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. ValuEngine upgraded Encore Capital Group from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Zacks Investment Research cut Encore Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Finally, Northland Securities restated a “hold” rating and set a $49.00 price target on shares of Encore Capital Group in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Encore Capital Group presently has an average rating of “Buy” and a consensus target price of $50.90.
Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings results on Wednesday, February 21st. The asset manager reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. Encore Capital Group had a return on equity of 18.70% and a net margin of 7.01%. The company had revenue of $317.48 million for the quarter, compared to analysts’ expectations of $297.72 million. During the same period in the prior year, the firm earned $0.72 earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year.
In other Encore Capital Group news, insider Paul Grinberg sold 19,273 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $40.82, for a total transaction of $786,723.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 95,365 shares of company stock worth $4,015,307 over the last 90 days. 8.80% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. William Blair Investment Management LLC raised its stake in shares of Encore Capital Group by 0.4% in the fourth quarter. William Blair Investment Management LLC now owns 2,398,567 shares of the asset manager’s stock valued at $100,980,000 after acquiring an additional 9,526 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of Encore Capital Group in the fourth quarter valued at $483,000. Castleark Management LLC raised its stake in shares of Encore Capital Group by 9.2% in the fourth quarter. Castleark Management LLC now owns 138,290 shares of the asset manager’s stock valued at $5,822,000 after acquiring an additional 11,655 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Encore Capital Group in the fourth quarter valued at $13,224,000. Finally, Clearbridge LLC raised its stake in shares of Encore Capital Group by 19.0% in the fourth quarter. Clearbridge LLC now owns 363,250 shares of the asset manager’s stock valued at $15,293,000 after acquiring an additional 57,940 shares in the last quarter.
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About Encore Capital Group
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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