Oppenheimer Reiterates “$37.00” Price Target for Encore Capital Group (NASDAQ:ECPG)

Oppenheimer set a $37.00 price target on Encore Capital Group (NASDAQ:ECPG) in a research note published on Wednesday, April 17th, TipRanks reports. The firm currently has a buy rating on the asset manager’s stock. Oppenheimer also issued estimates for Encore Capital Group’s Q1 2019 earnings at $1.12 EPS, Q2 2019 earnings at $1.25 EPS, Q3 2019 earnings at $1.14 EPS, Q4 2019 earnings at $1.08 EPS, FY2019 earnings at $4.58 EPS and FY2020 earnings at $5.73 EPS.

ECPG has been the subject of a number of other research reports. JMP Securities raised their price target on shares of Encore Capital Group from $37.00 to $42.00 and gave the company a market outperform rating in a report on Thursday, February 28th. Zacks Investment Research raised shares of Encore Capital Group from a sell rating to a hold rating in a research note on Monday, January 14th. BidaskClub raised shares of Encore Capital Group from a hold rating to a buy rating in a research note on Tuesday, January 15th. ValuEngine raised shares of Encore Capital Group from a strong sell rating to a sell rating in a research note on Wednesday, February 13th. Finally, Buckingham Research assumed coverage on shares of Encore Capital Group in a research report on Thursday, January 3rd. They set a buy rating and a $38.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $38.00.

Shares of NASDAQ ECPG traded up $2.68 during mid-day trading on Wednesday, hitting $35.40. 19,978 shares of the stock were exchanged, compared to its average volume of 242,121. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.26. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 7.11, a PEG ratio of 0.43 and a beta of 1.98. Encore Capital Group has a twelve month low of $20.38 and a twelve month high of $46.06.

Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings results on Wednesday, May 8th. The asset manager reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.26. The business had revenue of $347.08 million during the quarter, compared to analyst estimates of $349.76 million. Encore Capital Group had a net margin of 8.51% and a return on equity of 20.21%. On average, analysts forecast that Encore Capital Group will post 5.19 earnings per share for the current year.

In related news, major shareholder Jcf Iii Europe Holdings L.P. sold 1,500,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $30.17, for a total transaction of $45,255,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.76% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Pearl River Capital LLC acquired a new position in shares of Encore Capital Group in the 1st quarter valued at $40,000. Quantamental Technologies LLC purchased a new stake in shares of Encore Capital Group during the first quarter worth approximately $121,000. Metropolitan Life Insurance Co. NY increased its position in shares of Encore Capital Group by 329.0% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,108 shares of the asset manager’s stock worth $191,000 after purchasing an additional 6,218 shares in the last quarter. Sigma Planning Corp purchased a new stake in shares of Encore Capital Group during the first quarter worth approximately $222,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Encore Capital Group during the first quarter worth approximately $228,000.

About Encore Capital Group

Encore Capital Group, Inc, a specialty finance company, together with its subsidiaries, provides debt recovery solutions and other related services for consumers across a range of 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.

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Analyst Recommendations for Encore Capital Group (NASDAQ:ECPG)

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