In a report released today, Michael Grondahl from Northland Securities maintained a Buy rating on Encore Capital (ECPG), with a price target of $40. The company’s shares opened today at $35.91.
Grondahl noted:
“We believe the company is set up well for 2019 with market trends continuing to provide a tailwind. Overall, deployments and collections were very strong in 4Q18 across the U.S. and Europe.”
According to TipRanks.com, Grondahl is a top 100 analyst with an average return of 32.2% and a 71.0% success rate. Grondahl covers the Financial sector, focusing on stocks such as Front Yard Residential Corporation, Altisource Portfolio Solutions SA, and Health Insurance Innovations.
Encore Capital has an analyst consensus of Moderate Buy, with a price target consensus of $40.50, which is a 12.8% upside from current levels. In a report released today, Oppenheimer also maintained a Buy rating on the stock with a $39 price target.
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Based on Encore Capital’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $20.73 million. In comparison, last year the company had a net profit of $12.68 million.
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Encore Capital Group, Inc. engages in the provision of debt management and recovery solutions for consumers and property owners across a broad range of financial assets. It operates through the following geographical segments: United States, International, Europe, and Other. The company was founded in April 1999 and is headquartered in San Diego, CA.
