Zacks Research Analysts Boost Earnings Estimates for Credit Acceptance Co. (NASDAQ:CACC)

Credit Acceptance Co. (NASDAQ:CACC) – Equities research analysts at Zacks Research raised their Q2 2024 earnings per share (EPS) estimates for Credit Acceptance in a research note issued to investors on Tuesday, May 21st. Zacks Research analyst R. Department now anticipates that the credit services provider will post earnings of $12.52 per share for the quarter, up from their prior forecast of $10.45. The consensus estimate for Credit Acceptance’s current full-year earnings is $40.28 per share. Zacks Research also issued estimates for Credit Acceptance’s Q3 2024 earnings at $13.39 EPS, Q4 2024 earnings at $14.14 EPS, FY2024 earnings at $49.34 EPS, Q1 2025 earnings at $13.11 EPS, Q2 2025 earnings at $14.83 EPS, Q3 2025 earnings at $15.31 EPS, Q4 2025 earnings at $16.08 EPS, FY2025 earnings at $59.34 EPS, Q1 2026 earnings at $15.60 EPS and FY2026 earnings at $63.38 EPS.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $9.28 earnings per share for the quarter, beating analysts’ consensus estimates of $6.81 by $2.47. Credit Acceptance had a return on equity of 30.70% and a net margin of 12.83%. The business had revenue of $508.00 million during the quarter, compared to analyst estimates of $497.71 million. During the same quarter last year, the company posted $9.71 EPS. Credit Acceptance’s revenue for the quarter was up 11.9% on a year-over-year basis.

A number of other equities research analysts have also commented on CACC. TD Cowen decreased their price objective on Credit Acceptance from $465.00 to $420.00 and set a “sell” rating for the company in a research report on Thursday, May 2nd. StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Credit Acceptance presently has a consensus rating of “Hold” and an average price target of $402.33.

Credit Acceptance Trading Down 2.2 %

Shares of NASDAQ CACC opened at $476.01 on Friday. Credit Acceptance has a one year low of $379.77 and a one year high of $616.66. The firm has a market capitalization of $5.76 billion, a PE ratio of 24.42 and a beta of 1.44. The company has a current ratio of 13.79, a quick ratio of 13.79 and a debt-to-equity ratio of 3.29. The business has a 50-day moving average price of $530.49 and a two-hundred day moving average price of $518.98.

Institutional Trading of Credit Acceptance

Several institutional investors have recently modified their holdings of CACC. Whittier Trust Co. acquired a new stake in Credit Acceptance in the 4th quarter valued at $74,000. National Bank of Canada FI boosted its stake in Credit Acceptance by 242.3% in the 4th quarter. National Bank of Canada FI now owns 243 shares of the credit services provider’s stock valued at $131,000 after buying an additional 172 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Credit Acceptance in the 1st quarter valued at $156,000. Harbor Capital Advisors Inc. boosted its stake in Credit Acceptance by 15.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 338 shares of the credit services provider’s stock valued at $180,000 after buying an additional 46 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new stake in Credit Acceptance in the 4th quarter valued at $210,000. Institutional investors and hedge funds own 81.71% of the company’s stock.

Insiders Place Their Bets

In other Credit Acceptance news, insider Douglas W. Busk sold 2,500 shares of Credit Acceptance stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $572.58, for a total value of $1,431,450.00. Following the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $1,781,868.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 4.20% of the company’s stock.

About Credit Acceptance

Credit Acceptance Corporation engages in the provision of financing programs, and related products and services in the United States. The company advances money to automobile dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps the amount collected from the consumers.