Analysts Expect Credit Acceptance Corp. (CACC) Will Announce Earnings of $6.86 Per Share

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Wall Street analysts expect Credit Acceptance Corp. (NASDAQ:CACC) to post earnings per share (EPS) of $6.86 for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Credit Acceptance’s earnings. The lowest EPS estimate is $6.39 and the highest is $7.49. Credit Acceptance reported earnings per share of $3.96 during the same quarter last year, which would suggest a positive year over year growth rate of 73.2%. The company is scheduled to announce its next quarterly earnings results on Tuesday, January 29th.

According to Zacks, analysts expect that Credit Acceptance will report full-year earnings of $28.49 per share for the current fiscal year, with EPS estimates ranging from $28.07 to $29.17. For the next fiscal year, analysts anticipate that the firm will report earnings of $30.45 per share, with EPS estimates ranging from $28.46 to $32.18. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Credit Acceptance.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings results on Monday, October 29th. The credit services provider reported $7.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.90 by $0.85. Credit Acceptance had a net margin of 48.70% and a return on equity of 28.83%. The firm had revenue of $332.00 million during the quarter, compared to the consensus estimate of $327.45 million. During the same period last year, the firm posted $5.43 EPS. The firm’s quarterly revenue was up 16.9% on a year-over-year basis.

CACC has been the subject of several analyst reports. BidaskClub downgraded shares of Credit Acceptance from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Credit Suisse Group lifted their price target on shares of Credit Acceptance from $310.00 to $335.00 and gave the company an “underperform” rating in a report on Tuesday, October 30th. Oppenheimer set a $420.00 price target on shares of Credit Acceptance and gave the company a “buy” rating in a report on Tuesday, October 30th. BMO Capital Markets lifted their price target on shares of Credit Acceptance from $312.00 to $333.00 and gave the company a “market perform” rating in a report on Thursday, November 1st. Finally, Zacks Investment Research restated a “buy” rating and issued a $438.00 price objective on shares of Credit Acceptance in a research report on Monday, November 12th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $362.71.

In other Credit Acceptance news, insider Prescott General Partners Llc sold 20,273 shares of the firm’s stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $418.53, for a total value of $8,484,858.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott J. Vassalluzzo sold 5,000 shares of the firm’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $413.10, for a total transaction of $2,065,500.00. The disclosure for this sale can be found here. Insiders sold a total of 36,818 shares of company stock valued at $15,431,423 in the last 90 days. Corporate insiders own 5.40% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CACC. Swiss National Bank grew its position in shares of Credit Acceptance by 71.3% during the 2nd quarter. Swiss National Bank now owns 20,177 shares of the credit services provider’s stock worth $7,131,000 after buying an additional 8,400 shares during the period. Neuburgh Advisers LLC grew its position in shares of Credit Acceptance by 328.6% during the 2nd quarter. Neuburgh Advisers LLC now owns 960 shares of the credit services provider’s stock worth $339,000 after buying an additional 736 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Credit Acceptance by 4.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 86,218 shares of the credit services provider’s stock worth $30,470,000 after buying an additional 3,356 shares during the period. Alps Advisors Inc. grew its position in shares of Credit Acceptance by 22.2% during the 2nd quarter. Alps Advisors Inc. now owns 1,754 shares of the credit services provider’s stock worth $567,000 after buying an additional 319 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of Credit Acceptance by 17.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 1,244 shares of the credit services provider’s stock worth $440,000 after buying an additional 183 shares during the period. Hedge funds and other institutional investors own 62.07% of the company’s stock.

CACC stock traded down $6.29 during trading on Friday, hitting $380.10. 147,946 shares of the stock traded hands, compared to its average volume of 65,301. Credit Acceptance has a one year low of $297.63 and a one year high of $467.26. The company has a market capitalization of $7.46 billion, a P/E ratio of 18.60, a P/E/G ratio of 0.81 and a beta of 0.52. The company has a quick ratio of 36.75, a current ratio of 36.75 and a debt-to-equity ratio of 1.97.

Credit Acceptance Company Profile

Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.

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