Encore Capital Group (NASDAQ:ECPG) Posts Earnings Results, Beats Expectations By $0.01 EPS

Encore Capital Group (NASDAQ:ECPG) released its quarterly earnings results on Wednesday. The asset manager reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.01, Briefing.com reports. Encore Capital Group had a negative net margin of 16.89% and a positive return on equity of 9.46%. The business had revenue of $328.39 million for the quarter, compared to analysts’ expectations of $330.83 million. During the same quarter in the previous year, the business posted $0.94 earnings per share. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year.

Encore Capital Group Trading Up 11.4 %

Shares of NASDAQ:ECPG traded up $4.94 during trading on Thursday, hitting $48.18. The company had a trading volume of 231,129 shares, compared to its average volume of 167,449. The company has a fifty day simple moving average of $44.69 and a two-hundred day simple moving average of $46.42. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -5.35 and a beta of 1.38. The company has a debt-to-equity ratio of 3.54, a current ratio of 0.83 and a quick ratio of 0.83. Encore Capital Group has a one year low of $34.74 and a one year high of $54.73.

Insider Buying and Selling

In related news, insider Ryan B. Bell sold 5,500 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $50.00, for a total transaction of $275,000.00. Following the completion of the sale, the insider now directly owns 42,404 shares of the company’s stock, valued at approximately $2,120,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ECPG. TheStreet lowered shares of Encore Capital Group from a “c-” rating to a “d+” rating in a research note on Monday, March 18th. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price objective on shares of Encore Capital Group in a research report on Monday.

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.