Credit Acceptance (CACC) to Release Quarterly Earnings on Wednesday

Credit Acceptance (NASDAQ:CACC) will post its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect Credit Acceptance to post earnings of $7.61 per share for the quarter.

Credit Acceptance (NASDAQ:CACC) last released its earnings results on Wednesday, July 31st. The credit services provider reported $10.29 earnings per share for the quarter, topping analysts’ consensus estimates of $7.20 by $3.09. The business had revenue of $538.20 million for the quarter, compared to the consensus estimate of $525.03 million. Credit Acceptance had a return on equity of 30.77% and a net margin of 9.01%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the business earned $10.69 earnings per share. On average, analysts expect Credit Acceptance to post $39 EPS for the current fiscal year and $42 EPS for the next fiscal year.

Credit Acceptance Price Performance

Shares of CACC stock opened at $474.98 on Thursday. The stock has a 50 day moving average of $454.90 and a two-hundred day moving average of $493.50. The company has a current ratio of 19.15, a quick ratio of 19.15 and a debt-to-equity ratio of 3.77. The company has a market capitalization of $5.75 billion, a P/E ratio of 24.37 and a beta of 1.42. Credit Acceptance has a 12 month low of $379.77 and a 12 month high of $616.66.

Analysts Set New Price Targets

Separately, TD Cowen decreased their price objective on Credit Acceptance from $440.00 to $400.00 and set a “sell” rating for the company in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $395.67.

Insider Transactions at Credit Acceptance

In other news, insider Thomas W. Smith sold 1,200 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $451.01, for a total value of $541,212.00. Following the completion of the sale, the insider now owns 74,450 shares in the company, valued at $33,577,694.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.30% of the company’s stock.

Credit Acceptance Company Profile

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.