Brokerages predict that Credit Acceptance Corp. (NASDAQ:CACC) will post earnings of $5.27 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Credit Acceptance’s earnings. The highest EPS estimate is $5.41 and the lowest is $5.11. Credit Acceptance posted earnings of $4.33 per share in the same quarter last year, which suggests a positive year over year growth rate of 21.7%. The business is scheduled to report its next quarterly earnings results on Tuesday, January 30th.
On average, 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 financial year, analysts expect that the firm will post earnings of $23.80 per share, with EPS estimates ranging from $21.85 to $26.88. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Credit Acceptance.
Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings results on Monday, October 30th. The credit services provider reported $5.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.15 by $0.28. Credit Acceptance had a return on equity of 32.08% and a net margin of 35.29%. The firm had revenue of $283.90 million during the quarter, compared to analysts’ expectations of $281.03 million. During the same period last year, the firm posted $4.53 EPS. The business’s revenue was up 15.1% on a year-over-year basis.
A number of equities research analysts recently weighed in on CACC shares. Credit Suisse Group reaffirmed a “sell” rating and set a $270.00 price target on shares of Credit Acceptance in a report on Monday, January 8th. Jefferies Group reaffirmed a “hold” rating and set a $260.00 price target (up from $240.00) on shares of Credit Acceptance in a report on Tuesday, October 10th. Zacks Investment Research cut Credit Acceptance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. BidaskClub raised Credit Acceptance from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 12th. Finally, Oppenheimer started coverage on Credit Acceptance in a report on Monday, January 8th. They set a “buy” rating and a $355.00 price target for the company. Four analysts have rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $263.50.
Credit Acceptance (NASDAQ:CACC) traded up $1.57 during mid-day trading on Friday, reaching $338.29. The company had a trading volume of 98,069 shares, compared to its average volume of 142,636. Credit Acceptance has a 12-month low of $182.50 and a 12-month high of $344.21. The firm has a market cap of $6,530.00, a PE ratio of 17.54, a price-to-earnings-growth ratio of 1.04 and a beta of 0.54. The company has a debt-to-equity ratio of 2.12, a current ratio of 17.63 and a quick ratio of 17.63.
In other Credit Acceptance news, major shareholder Jill Foss Watson sold 30,038 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $330.83, for a total value of $9,937,471.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 114,925 shares of company stock worth $37,901,719 over the last quarter. Corporate insiders own 5.80% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. boosted its position in Credit Acceptance by 437.0% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 537 shares of the credit services provider’s stock valued at $150,000 after buying an additional 437 shares during the last quarter. SG Americas Securities LLC boosted its position in Credit Acceptance by 102.8% in the 2nd quarter. SG Americas Securities LLC now owns 618 shares of the credit services provider’s stock valued at $159,000 after buying an additional 22,463 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Credit Acceptance by 6.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 619 shares of the credit services provider’s stock valued at $159,000 after buying an additional 40 shares during the last quarter. Rathbone Brothers plc bought a new position in Credit Acceptance in the 3rd quarter valued at $210,000. Finally, First Capital Advisors Group LLC. bought a new position in Credit Acceptance in the 3rd quarter valued at $233,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.
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About Credit Acceptance
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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