Zacks: Analysts Anticipate Credit Acceptance Corp. (CACC) Will Announce Earnings of $8.49 Per Share

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Brokerages expect that Credit Acceptance Corp. (NASDAQ:CACC) will report earnings per share (EPS) of $8.49 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Credit Acceptance’s earnings, with estimates ranging from $8.18 to $8.79. Credit Acceptance posted earnings per share of $6.95 during the same quarter last year, which would indicate a positive year over year growth rate of 22.2%. The company is expected to report its next quarterly earnings results on Tuesday, July 30th.

On average, analysts expect that Credit Acceptance will report full year earnings of $34.48 per share for the current fiscal year, with EPS estimates ranging from $33.08 to $35.76. For the next fiscal year, analysts forecast that the firm will report earnings of $37.12 per share, with EPS estimates ranging from $36.86 to $37.32. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Credit Acceptance.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings results on Monday, April 29th. The credit services provider reported $8.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.93 by $0.15. The business had revenue of $342.80 million during the quarter, compared to the consensus estimate of $350.35 million. Credit Acceptance had a return on equity of 30.17% and a net margin of 46.00%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.11 EPS.

CACC has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Credit Acceptance from a “hold” rating to a “buy” rating and set a $468.00 target price on the stock in a research note on Monday, February 4th. BMO Capital Markets boosted their target price on Credit Acceptance to $390.00 and gave the stock a “market perform” rating in a research note on Monday, February 4th. Oppenheimer restated a “market perform” rating on shares of Credit Acceptance in a research note on Thursday, January 31st. They noted that the move was a valuation call. BTIG Research initiated coverage on Credit Acceptance in a research note on Wednesday, January 23rd. They issued a “sell” rating and a $340.00 target price on the stock. Finally, BidaskClub upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Three equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $407.67.

In related news, CFO Kenneth Booth sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $500.00, for a total value of $500,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 5.00% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the stock. Federated Investors Inc. PA raised its holdings in Credit Acceptance by 355.0% during the 3rd quarter. Federated Investors Inc. PA now owns 91 shares of the credit services provider’s stock valued at $40,000 after acquiring an additional 71 shares during the period. Macquarie Group Ltd. bought a new stake in Credit Acceptance during the 1st quarter valued at $79,000. Blue Sky Asset Management LLC bought a new stake in Credit Acceptance during the 1st quarter valued at $84,000. Meeder Asset Management Inc. bought a new stake in Credit Acceptance during the 4th quarter valued at $81,000. Finally, Advisor Group Inc. raised its holdings in Credit Acceptance by 113.0% during the 4th quarter. Advisor Group Inc. now owns 213 shares of the credit services provider’s stock valued at $82,000 after acquiring an additional 113 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

CACC stock traded up $17.50 during mid-day trading on Friday, reaching $479.53. 3,452 shares of the company traded hands, compared to its average volume of 97,503. Credit Acceptance has a fifty-two week low of $337.30 and a fifty-two week high of $509.99. The company has a market capitalization of $8.74 billion, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 0.87 and a beta of 0.70. The company has a debt-to-equity ratio of 2.07, a quick ratio of 31.27 and a current ratio of 31.27.

About Credit Acceptance

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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