Encore Capital Group, Inc. (NASDAQ:ECPG) Expected to Earn Q3 2024 Earnings of $1.45 Per Share

Encore Capital Group, Inc. (NASDAQ:ECPG) – Investment analysts at Northland Capmk decreased their Q3 2024 earnings estimates for Encore Capital Group in a research note issued to investors on Thursday, August 8th. Northland Capmk analyst M. Grondahl now expects that the asset manager will post earnings per share of $1.45 for the quarter, down from their prior estimate of $1.50. The consensus estimate for Encore Capital Group’s current full-year earnings is $5.59 per share.

Separately, JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price objective on shares of Encore Capital Group in a research note on Monday, May 6th.

Encore Capital Group Trading Down 2.4 %

NASDAQ:ECPG opened at $48.73 on Friday. The stock has a fifty day simple moving average of $44.56 and a 200 day simple moving average of $45.79. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -5.68 and a beta of 1.55. Encore Capital Group has a 1-year low of $34.74 and a 1-year high of $54.55. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 3.53.

Encore Capital Group (NASDAQ:ECPG) last announced its quarterly earnings data on Wednesday, August 7th. The asset manager reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.10. The company had revenue of $355.29 million during the quarter, compared to the consensus estimate of $346.06 million. Encore Capital Group had a positive return on equity of 9.95% and a negative net margin of 16.30%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.08 EPS.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. acquired a new stake in shares of Encore Capital Group during the 2nd quarter valued at about $33,000. nVerses Capital LLC lifted its stake in Encore Capital Group by 450.0% in the second quarter. nVerses Capital LLC now owns 1,100 shares of the asset manager’s stock valued at $46,000 after acquiring an additional 900 shares during the last quarter. Innealta Capital LLC bought a new stake in Encore Capital Group in the second quarter worth approximately $60,000. Assetmark Inc. increased its stake in shares of Encore Capital Group by 19.4% during the 4th quarter. Assetmark Inc. now owns 1,422 shares of the asset manager’s stock worth $72,000 after purchasing an additional 231 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in shares of Encore Capital Group during the 1st quarter valued at $138,000.

Insider Activity

In related news, SVP Andrew Eric Asch sold 1,251 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $50.00, for a total value of $62,550.00. Following the completion of the sale, the senior vice president now directly owns 18,075 shares of the company’s stock, valued at approximately $903,750. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.63% of the stock is currently owned by corporate insiders.

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.