FY2016 EPS Estimates for Encore Capital Group Inc. (ECPG) Decreased by SunTrust Banks
Encore Capital Group Inc. (NASDAQ:ECPG) – SunTrust Banks lowered their FY2016 earnings estimates for Encore Capital Group in a research note issued on Wednesday. SunTrust Banks analyst M. Hughes now anticipates that the brokerage will post earnings per share of $3.26 for the year, down from their prior forecast of $5.20. SunTrust Banks also issued estimates for Encore Capital Group’s Q4 2016 earnings at $0.52 EPS, Q1 2017 earnings at $1.06 EPS, Q2 2017 earnings at $1.08 EPS, Q3 2017 earnings at $1.11 EPS, Q4 2017 earnings at $1.14 EPS and FY2017 earnings at $4.40 EPS.
Encore Capital Group (NASDAQ:ECPG) last announced its earnings results on Wednesday, November 9th. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by $1.10. Encore Capital Group had a net margin of 5.00% and a return on equity of 17.26%. The company earned $179.41 million during the quarter, compared to the consensus estimate of $283.66 million. During the same quarter in the previous year, the company earned $1.34 earnings per share. The business’s revenue was down 35.7% on a year-over-year basis.
A number of other analysts also recently issued reports on the company. Northland Securities downgraded Encore Capital Group from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $37.00 to $21.00 in a research report on Friday, August 5th. Zacks Investment Research upgraded Encore Capital Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 18th. Finally, Citigroup Inc. downgraded Encore Capital Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $31.00 to $24.00 in a research report on Tuesday, September 20th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $27.50.
Shares of Encore Capital Group (NASDAQ:ECPG) opened at 25.50 on Monday. The company has a 50-day moving average price of $21.15 and a 200 day moving average price of $23.21. Encore Capital Group has a one year low of $16.09 and a one year high of $33.81. The company has a market capitalization of $651.04 million, a PE ratio of 12.49 and a beta of 1.44.
Several institutional investors have recently made changes to their positions in ECPG. Mason Street Advisors LLC purchased a new position in shares of Encore Capital Group during the second quarter worth $109,000. Municipal Employees Retirement System of Michigan boosted its position in shares of Encore Capital Group by 1.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,260 shares of the company’s stock worth $118,000 after buying an additional 80 shares during the period. BlackRock Inc. boosted its position in shares of Encore Capital Group by 243.3% in the second quarter. BlackRock Inc. now owns 6,673 shares of the company’s stock worth $157,000 after buying an additional 4,729 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Encore Capital Group by 138.3% in the second quarter. BNP Paribas Arbitrage SA now owns 7,512 shares of the company’s stock worth $177,000 after buying an additional 4,360 shares during the period. Finally, KBC Group NV boosted its position in shares of Encore Capital Group by 358.2% in the third quarter. KBC Group NV now owns 8,922 shares of the company’s stock worth $201,000 after buying an additional 6,975 shares during the period.
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 two segments: Portfolio Purchasing and Recovery, and Tax Lien Business. Its portfolio purchasing and recovery segment purchases portfolios of defaulted consumer receivables at discounts and manages them by partnering with individuals as they repay their obligations and work toward financial recovery.
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