Equities analysts predict that Credit Acceptance Corp. (NASDAQ:CACC) will announce earnings of $5.26 per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Credit Acceptance’s earnings, with the lowest EPS estimate coming in at $5.11 and the highest estimate coming in at $5.41. Credit Acceptance posted earnings of $4.33 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 21.5%. The firm is expected to issue its next quarterly earnings report on Tuesday, January 30th.
According to Zacks, analysts expect that Credit Acceptance will report full year earnings of $20.26 per share for the current fiscal year, with EPS estimates ranging from $20.10 to $20.40. For the next year, analysts anticipate that the business will post earnings of $21.95 per share, with EPS estimates ranging from $20.86 to $22.97. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Credit Acceptance.
Credit Acceptance (NASDAQ:CACC) last released its earnings results on Monday, October 30th. The credit services provider reported $5.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.15 by $0.28. Credit Acceptance had a net margin of 35.29% and a return on equity of 32.08%. The firm had revenue of $283.90 million during the quarter, compared to the consensus estimate of $281.03 million. During the same period in the previous year, the firm earned $4.53 earnings per share. Credit Acceptance’s revenue was up 15.1% compared to the same quarter last year.
A number of equities research analysts recently issued reports on the stock. BidaskClub upgraded shares of Credit Acceptance from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 12th. Bank of America boosted their price objective on shares of Credit Acceptance from $195.00 to $230.00 and gave the stock an “underperform” rating in a research note on Tuesday, October 31st. Credit Suisse Group boosted their price objective on shares of Credit Acceptance from $200.00 to $225.00 and gave the stock an “underperform” rating in a research note on Tuesday, October 31st. BMO Capital Markets reiterated a “market perform” rating and set a $252.00 price objective (up from $238.00) on shares of Credit Acceptance in a research note on Tuesday, October 31st. Finally, Jefferies Group reiterated a “hold” rating and set a $260.00 price objective (up from $240.00) on shares of Credit Acceptance in a research note on Tuesday, October 10th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a strong buy rating to the stock. Credit Acceptance has an average rating of “Hold” and an average target price of $229.78.
In other Credit Acceptance news, major shareholder Jill Foss Watson sold 31,463 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $335.06, for a total transaction of $10,541,992.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.80% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Credit Acceptance by 437.0% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 537 shares of the credit services provider’s stock worth $150,000 after purchasing an additional 437 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Credit Acceptance by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 619 shares of the credit services provider’s stock worth $159,000 after purchasing an additional 40 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Credit Acceptance by 102.8% during the second quarter. SG Americas Securities LLC now owns 618 shares of the credit services provider’s stock worth $159,000 after purchasing an additional 22,463 shares in the last quarter. Rathbone Brothers plc acquired a new position in shares of Credit Acceptance during the third quarter worth $210,000. Finally, First Capital Advisors Group LLC. acquired a new position in shares of Credit Acceptance during the third quarter worth $233,000. 70.69% of the stock is currently owned by institutional investors and hedge funds.
Shares of Credit Acceptance (NASDAQ CACC) opened at $325.65 on Thursday. Credit Acceptance has a twelve month low of $182.50 and a twelve month high of $338.12. The stock has a market cap of $6,276.40, a P/E ratio of 16.85, a P/E/G ratio of 1.33 and a beta of 0.53. The company has a debt-to-equity ratio of 2.12, a current ratio of 17.63 and a quick ratio of 17.63.
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Credit Acceptance Company Profile
Credit Acceptance Corporation offers financing programs that enable automobile dealers to sell vehicles to consumers. The Company’s financing programs are offered through a network of automobile dealers. The Company has two Dealers financing programs: the Portfolio Program and the Purchase Program. Under the Portfolio Program, the Company advances money to dealers (Dealer Loan) in exchange for the right to service the underlying consumer loans.
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