Credit Acceptance (CACC) to Release Earnings on Wednesday

Credit Acceptance (NASDAQ:CACC) is projected to announce its earnings results before the market opens on Wednesday, January 29th. Analysts expect the company to announce earnings of $7.70 per share and revenue of $562,400.00 billion for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share for the quarter, topping the consensus estimate of $7.88 by $0.91. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. The company had revenue of $550.30 million during the quarter, compared to the consensus estimate of $548.13 million. During the same quarter last year, the business posted $10.70 earnings per share. Credit Acceptance’s revenue was up 15.0% compared to the same quarter last year. On average, analysts expect Credit Acceptance to post $37 EPS for the current fiscal year and $55 EPS for the next fiscal year.

Credit Acceptance Stock Up 0.1 %

Shares of NASDAQ:CACC opened at $524.11 on Tuesday. The company has a market capitalization of $6.35 billion, a P/E ratio of 35.20 and a beta of 1.46. The stock’s fifty day simple moving average is $478.07 and its 200-day simple moving average is $474.90. Credit Acceptance has a 52-week low of $409.22 and a 52-week high of $616.66. The company has a quick ratio of 23.63, a current ratio of 23.63 and a debt-to-equity ratio of 3.79.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CACC. TD Cowen decreased their price target on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a research note on Friday, November 1st. StockNews.com lowered shares of Credit Acceptance from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Finally, Stephens started coverage on Credit Acceptance in a report on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 price target for the company.

Insiders Place Their Bets

In related news, COO Jonathan Lum sold 552 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $489.90, for a total transaction of $270,424.80. Following the completion of the transaction, the chief operating officer now owns 31,493 shares of the company’s stock, valued at approximately $15,428,420.70. This represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.30% of the stock is owned by corporate insiders.

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.