Brokerages Expect Credit Acceptance Corp. (NASDAQ:CACC) to Announce $9.13 EPS

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Equities research analysts expect Credit Acceptance Corp. (NASDAQ:CACC) to announce earnings per share (EPS) of $9.13 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Credit Acceptance’s earnings. The lowest EPS estimate is $9.00 and the highest is $9.35. Credit Acceptance reported earnings of $7.75 per share during the same quarter last year, which indicates a positive year over year growth rate of 17.8%. The business is scheduled to issue its next earnings report on Monday, November 4th.

According to Zacks, analysts expect that Credit Acceptance will report full-year earnings of $35.02 per share for the current fiscal year, with EPS estimates ranging from $33.87 to $35.73. For the next year, analysts expect that the company will post earnings of $37.57 per share, with EPS estimates ranging from $35.43 to $38.94. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Credit Acceptance.

Credit Acceptance (NASDAQ:CACC) last announced its earnings results on Tuesday, July 30th. The credit services provider reported $8.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.52 by $0.08. Credit Acceptance had a net margin of 45.15% and a return on equity of 30.02%. The company had revenue of $370.60 million for the quarter, compared to analysts’ expectations of $363.38 million. During the same quarter in the previous year, the company posted $6.95 EPS. The firm’s quarterly revenue was up 17.5% on a year-over-year basis.

Several research analysts have recently weighed in on CACC shares. Credit Suisse Group set a $380.00 price target on shares of Credit Acceptance and gave the company an “underperform” rating in a research report on Wednesday, July 31st. BidaskClub cut shares of Credit Acceptance from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Zacks Investment Research cut shares of Credit Acceptance from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Stephens boosted their price target on shares of Credit Acceptance from $381.00 to $495.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. Finally, BTIG Research reissued a “sell” rating and set a $340.00 price target on shares of Credit Acceptance in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $441.00.

Shares of CACC opened at $470.37 on Friday. Credit Acceptance has a 52-week low of $356.12 and a 52-week high of $509.99. The company has a debt-to-equity ratio of 1.89, a quick ratio of 28.16 and a current ratio of 28.16. The business’s fifty day simple moving average is $480.71. The firm has a market cap of $8.89 billion, a PE ratio of 16.57, a PEG ratio of 1.37 and a beta of 0.74.

Several hedge funds have recently made changes to their positions in the company. Hanson & Doremus Investment Management purchased a new stake in Credit Acceptance in the 2nd quarter valued at about $26,000. Pearl River Capital LLC purchased a new stake in Credit Acceptance in the 2nd quarter valued at about $42,000. Advisor Group Inc. raised its holdings in Credit Acceptance by 113.0% in the 4th quarter. Advisor Group Inc. now owns 213 shares of the credit services provider’s stock valued at $82,000 after buying an additional 113 shares during the period. Blue Sky Asset Management LLC purchased a new stake in Credit Acceptance in the 1st quarter valued at about $84,000. Finally, NumerixS Investment Technologies Inc purchased a new stake in Credit Acceptance in the 2nd quarter valued at about $97,000. 61.59% of the stock is currently owned by hedge funds and other institutional investors.

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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