Equities research analysts expect Credit Acceptance (NASDAQ:CACC) to report earnings per share (EPS) of $6.47 for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Credit Acceptance’s earnings. The lowest EPS estimate is $6.33 and the highest is $6.65. Credit Acceptance posted earnings of $5.09 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 27.1%. The company is expected to report its next earnings report on Monday, July 30th.
According to Zacks, analysts expect that Credit Acceptance will report full year earnings of $26.04 per share for the current financial year, with EPS estimates ranging from $25.55 to $27.01. For the next financial year, analysts anticipate that the company will report earnings of $28.54 per share, with EPS estimates ranging from $26.87 to $29.78. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that follow Credit Acceptance.
Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings results on Thursday, May 3rd. The credit services provider reported $6.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $6.19 by ($0.08). The firm had revenue of $295.60 million during the quarter, compared to the consensus estimate of $296.16 million. Credit Acceptance had a return on equity of 29.44% and a net margin of 43.49%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.67 earnings per share.
A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Credit Acceptance from a “sell” rating to a “hold” rating in a research report on Wednesday, May 9th. Oppenheimer set a $365.00 price target on shares of Credit Acceptance and gave the stock a “buy” rating in a research report on Sunday, May 6th. ValuEngine lowered shares of Credit Acceptance from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. BidaskClub lowered shares of Credit Acceptance from a “buy” rating to a “hold” rating in a research report on Saturday, April 28th. Finally, Credit Suisse Group restated an “underperform” rating on shares of Credit Acceptance in a research report on Tuesday, April 10th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Credit Acceptance presently has a consensus rating of “Hold” and a consensus target price of $290.88.
Shares of Credit Acceptance traded down $1.58, reaching $352.06, during mid-day trading on Friday, according to Marketbeat. The stock had a trading volume of 141,400 shares, compared to its average volume of 137,296. The firm has a market cap of $6.62 billion, a P/E ratio of 17.26, a PEG ratio of 0.72 and a beta of 0.57. Credit Acceptance has a 12 month low of $210.65 and a 12 month high of $377.82. The company has a debt-to-equity ratio of 2.07, a current ratio of 22.16 and a quick ratio of 22.16.
In related news, CFO Kenneth Booth sold 2,000 shares of the company’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $334.50, for a total transaction of $669,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John S. Soave sold 2,500 shares of the company’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $337.01, for a total transaction of $842,525.00. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the stock. Xact Kapitalforvaltning AB boosted its position in shares of Credit Acceptance by 29.2% during the first quarter. Xact Kapitalforvaltning AB now owns 886 shares of the credit services provider’s stock worth $293,000 after acquiring an additional 200 shares during the last quarter. Allianz Asset Management GmbH raised its stake in Credit Acceptance by 2.1% during the first quarter. Allianz Asset Management GmbH now owns 13,039 shares of the credit services provider’s stock valued at $4,309,000 after purchasing an additional 266 shares in the last quarter. M&T Bank Corp raised its stake in Credit Acceptance by 19.6% during the fourth quarter. M&T Bank Corp now owns 1,853 shares of the credit services provider’s stock valued at $600,000 after purchasing an additional 304 shares in the last quarter. Glen Harbor Capital Management LLC purchased a new stake in Credit Acceptance during the first quarter valued at $102,000. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Credit Acceptance by 45.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,061 shares of the credit services provider’s stock valued at $351,000 after purchasing an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 69.92% of the company’s stock.
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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