Encore Capital Group, Inc. Expected to Earn FY2023 Earnings of $3.93 Per Share (NASDAQ:ECPG)

Encore Capital Group, Inc. (NASDAQ:ECPG) – Equities researchers at William Blair reduced their FY2023 earnings per share (EPS) estimates for shares of Encore Capital Group in a note issued to investors on Monday, November 6th. William Blair analyst R. Napoli now forecasts that the asset manager will post earnings of $3.93 per share for the year, down from their previous estimate of $4.90. The consensus estimate for Encore Capital Group’s current full-year earnings is $4.20 per share. William Blair also issued estimates for Encore Capital Group’s Q4 2023 earnings at $1.12 EPS, Q1 2024 earnings at $1.55 EPS, Q3 2024 earnings at $1.82 EPS, Q4 2024 earnings at $1.53 EPS and FY2024 earnings at $6.65 EPS.

Several other equities research analysts also recently weighed in on ECPG. StockNews.com assumed coverage on Encore Capital Group in a report on Thursday, October 5th. They set a “hold” rating on the stock. JMP Securities dropped their price objective on Encore Capital Group from $61.00 to $56.00 and set a “market outperform” rating on the stock in a report on Monday. Finally, Truist Financial reiterated a “buy” rating and issued a $73.00 price objective on shares of Encore Capital Group in a report on Thursday, September 21st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Encore Capital Group currently has an average rating of “Moderate Buy” and a consensus price target of $62.33.

Encore Capital Group Price Performance

Shares of NASDAQ ECPG opened at $41.79 on Thursday. The stock’s 50-day moving average is $45.36 and its two-hundred day moving average is $47.67. The company has a debt-to-equity ratio of 2.60, a current ratio of 0.76 and a quick ratio of 0.76. Encore Capital Group has a 1-year low of $34.74 and a 1-year high of $58.46. The company has a market cap of $983.32 million, a price-to-earnings ratio of -85.29 and a beta of 1.45.

Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings results on Wednesday, November 1st. The asset manager reported $0.79 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.56). Encore Capital Group had a negative return on equity of 0.34% and a negative net margin of 0.75%. The company had revenue of $309.62 million for the quarter, compared to analysts’ expectations of $332.57 million. During the same quarter last year, the company earned $1.22 EPS. Encore Capital Group’s revenue for the quarter was up .6% compared to the same quarter last year.

Institutional Trading of Encore Capital Group

A number of large investors have recently made changes to their positions in ECPG. Bank of Montreal Can acquired a new stake in Encore Capital Group during the 2nd quarter worth approximately $14,591,000. Peregrine Capital Management LLC acquired a new stake in Encore Capital Group during the 1st quarter worth approximately $6,875,000. M&T Bank Corp lifted its position in Encore Capital Group by 8.7% during the 1st quarter. M&T Bank Corp now owns 4,874 shares of the asset manager’s stock worth $246,000 after acquiring an additional 391 shares during the period. Royce & Associates LP lifted its position in Encore Capital Group by 2.4% during the 1st quarter. Royce & Associates LP now owns 55,717 shares of the asset manager’s stock worth $2,811,000 after acquiring an additional 1,289 shares during the period. Finally, Turtle Creek Asset Management Inc. lifted its position in Encore Capital Group by 39.3% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 2,100,466 shares of the asset manager’s stock worth $105,969,000 after acquiring an additional 592,906 shares during the period.

Insider Activity

In related news, CFO Jonathan C. Clark sold 41,617 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $49.29, for a total value of $2,051,301.93. Following the completion of the sale, the chief financial officer now directly owns 149,688 shares of the company’s stock, valued at approximately $7,378,121.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.90% of the company’s stock.

Encore Capital Group Company Profile

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.