What is Northland Capmk’s Forecast for ECPG FY2024 Earnings?

Encore Capital Group, Inc. (NASDAQ:ECPG) – Research analysts at Northland Capmk lowered their FY2024 earnings estimates for Encore Capital Group in a research report issued to clients and investors on Thursday, November 7th. Northland Capmk analyst M. Grondahl now anticipates that the asset manager will post earnings per share of $5.26 for the year, down from their prior forecast of $5.45. Northland Capmk has a “Strong-Buy” rating on the stock. The consensus estimate for Encore Capital Group’s current full-year earnings is $5.56 per share.

Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings data on Wednesday, November 6th. The asset manager reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.21). The firm had revenue of $367.07 million for the quarter, compared to analyst estimates of $360.70 million. Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 13.00%. During the same period last year, the business earned $0.79 EPS. The company’s revenue was up 18.6% compared to the same quarter last year.

Other research analysts also recently issued research reports about the company. Truist Financial lowered their price objective on Encore Capital Group from $70.00 to $64.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. JMP Securities upped their price target on shares of Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research report on Thursday. Finally, Northland Securities raised shares of Encore Capital Group from a “market perform” rating to an “outperform” rating and raised their price target for the company from $55.00 to $58.00 in a research note on Thursday, October 17th. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $62.33.

Encore Capital Group Price Performance

Encore Capital Group stock opened at $49.97 on Friday. The stock has a 50-day moving average price of $46.68 and a two-hundred day moving average price of $45.68. Encore Capital Group has a 12 month low of $39.64 and a 12 month high of $54.55. The company has a market capitalization of $1.18 billion, a PE ratio of -6.37 and a beta of 1.56. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 3.50.

Hedge Funds Weigh In On Encore Capital Group

A number of hedge funds have recently made changes to their positions in the stock. Huntington National Bank increased its position in Encore Capital Group by 8,700.0% during the 3rd quarter. Huntington National Bank now owns 528 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 522 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Encore Capital Group during the second quarter worth $33,000. nVerses Capital LLC increased its position in shares of Encore Capital Group by 450.0% during the second quarter. nVerses Capital LLC now owns 1,100 shares of the asset manager’s stock worth $46,000 after buying an additional 900 shares during the period. Innealta Capital LLC bought a new position in Encore Capital Group during the second quarter worth $60,000. Finally, KBC Group NV lifted its holdings in Encore Capital Group by 54.9% in the third quarter. KBC Group NV now owns 1,365 shares of the asset manager’s stock valued at $65,000 after buying an additional 484 shares during the period.

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.