Encore Capital Group (ECPG) reported quarterly earnings results on Tuesday, May-10-2016. The company said it had a profit of $1.31 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $1.26. The company posted revenue of $289.00 million in the period, compared to analysts expectations of $303.78 million. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 EPS.
Many Wall Street Analysts have commented on Encore Capital Group. Encore Capital Group was Initiated by Northland Capital to “Outperform” on Mar 22, 2016.
Encore Capital Group opened for trading at $26.43 and hit $27.14 on the upside on Friday, eventually ending the session at $27.06, with a gain of 1.96% or 0.52 points. The heightened volatility saw the trading volume jump to 1,81,453 shares. Company has a market cap of $684 M.
In a different news, on Mar 4, 2016, Norman R Sorensen (director) purchased 2,000 shares at $26.58 per share price. According to the SEC, on Mar 2, 2016, Ashwini Gupta (director) purchased 5,000 shares at $23.12 per share price. On Mar 2, 2016, Ashish Masih (EVP, US Debt Purchasing Ops.) purchased 2,500 shares at $23.50 per share price, according to the Form-4 filing with the securities and exchange commission.
Encore Capital Group Inc. is a specialty finance company providing debt recovery solutions for consumers and property owners across a range of financial assets. The Company conducts business through two segments: portfolio purchasing and recovery and tax lien business. The Companys 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. Defaulted receivables are consumers’ unpaid financial commitments to credit originators including banks credit unions consumer finance companies commercial retailers and telecommunication companies. Defaulted receivables also include receivables subject to bankruptcy proceedings. It operates tax lien business segment through its subsidiary Propel Financial Services LLC which acquires and services residential and commercial tax liens on real property.