Encore Capital Group, Inc. (ECPG) Q3 2024 Earnings Call Transcript
Call Start: 17:00 January 1, 0000 5:37 PM ET Encore Capital Group, Inc. (NASDAQ:ECPG ) Q3 2024 Earnings Call November 6, 2024 17:00 ET Company Participants Bruce Thomas - Vice President, Global Investor Relations Ashish Masih - President and Chief Executive Officer Jonathan Clark - Executive Vice President and Chief Financial Officer Ryan Bell - President, Midland Credit Management Tomas Hernanz - Chief Financial Officer, Cabot Credit Management Conference Call Participants Mark Hughes - Truist Securities Mike Grondahl - Northland Robert Dodd - Raymond James Operator Good day and thank you for standing by. Welcome to the Encore Capital Group's Third Quarter 2024 Earnings Conference Call.
Encore Capital Group (ECPG) Misses Q3 Earnings Estimates
Encore Capital Group (ECPG) came out with quarterly earnings of $1.26 per share, missing the Zacks Consensus Estimate of $1.47 per share. This compares to earnings of $0.79 per share a year ago.
Encore Capital (ECPG) Shares Rise 11.4% Since Q2 Earnings Beat
Encore Capital (ECPG) expects interest expenses at $250 million for 2024 due to bond refinancing.
Encore Capital Group (ECPG) Surpasses Q2 Earnings and Revenue Estimates
Encore Capital Group (ECPG) came out with quarterly earnings of $1.34 per share, beating the Zacks Consensus Estimate of $1.26 per share. This compares to earnings of $1.08 per share a year ago.
Amalgamated Bank Sells 236 Shares of Encore Capital Group, Inc. (NASDAQ:ECPG)
Amalgamated Bank decreased its holdings in Encore Capital Group, Inc. (NASDAQ:ECPG – Free Report) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,867 shares of the asset manager’s stock after selling 236 shares during the period. Amalgamated Bank’s holdings in Encore Capital Group were worth $450,000 as of its most recent filing with the Securities & Exchange Commission. A number of other hedge funds also recently bought and sold shares of the stock. Illinois Municipal Retirement Fund raised its position in shares of Encore Capital Group by 2.2% in the 4th quarter. Illinois Municipal Retirement Fund now owns 13,683 shares of the asset manager’s stock worth $694,000 after acquiring an additional 301 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Encore Capital Group by 0.6% during the third quarter. Rhumbline Advisers now owns 75,412 shares of the asset manager’s stock valued at $3,602,000 after buying an additional 469 shares during the last quarter. Sigma Planning Corp raised its stake in shares of Encore Capital Group by 6.0% during the 3rd quarter. Sigma Planning Corp now owns 13,302 shares of the asset manager’s stock worth $635,000 after acquiring an additional 756 shares in the last quarter. Swiss National Bank lifted its position in Encore Capital Group by 1.8% during the third quarter. Swiss National Bank now owns 51,700 shares of the asset manager’s stock valued at $2,469,000 after acquiring an additional 900 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Encore Capital Group by 30.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,705 shares of the asset manager’s stock valued at $272,000 after acquiring an additional 1,330 shares in the last quarter. Encore Capital Group Trading Up 0.8 % Shares of Encore Capital Group stock opened at $46.99 on Monday. Encore Capital Group, Inc. has a 12-month low of $34.74 and a 12-month high of $54.73. The firm’s 50 day simple moving average is $44.48 and its two-hundred day simple moving average is $46.85. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 3.53. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -5.48 and a beta of 1.38. Encore Capital Group (NASDAQ:ECPG – Get Free Report) last issued its earnings results on Wednesday, May 8th. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. Encore Capital Group had a positive return on equity of 9.95% and a negative net margin of 16.30%. The company had revenue of $328.39 million during the quarter, compared to analyst estimates of $330.83 million. During the same quarter last year, the business posted $0.94 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts predict that Encore Capital Group, Inc. will post 5.59 EPS for the current year. Wall Street Analyst Weigh In A number of brokerages have recently issued reports on ECPG. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price target on shares of Encore Capital Group in a research report on Monday, May 6th. TheStreet lowered Encore Capital Group from a “c-” rating to a “d+” rating in a research report on Monday, March 18th. Get Our Latest Stock Analysis on Encore Capital Group Insider Activity In other news, insider Ryan B. Bell sold 5,500 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $50.00, for a total value of $275,000.00. Following the transaction, the insider now directly owns 42,404 shares of the company’s stock, valued at $2,120,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.90% of the company’s stock. Encore Capital Group Profile (Free Report) 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. Read More Five stocks we like better than Encore Capital Group Canada Bond Market Holiday: How to Invest and Trade MarketBeat Week in Review – 5/13 – 5/17 Most Volatile Stocks, What Investors Need to Know Take-Two Interactive Software Offers 2nd Chance for Investors Investing in Travel Stocks Benefits Deere & Company’s Q2 Report: Strong Revenue, Cautious Outlook
