Analysts predict that Credit Acceptance Corp. (NASDAQ:CACC) will post $7.54 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Credit Acceptance’s earnings. The lowest EPS estimate is $6.63 and the highest is $8.05. Credit Acceptance reported earnings per share of $6.11 in the same quarter last year, which suggests a positive year-over-year growth rate of 23.4%. The business is expected to report its next quarterly earnings results on Thursday, May 2nd.
According to Zacks, analysts expect that Credit Acceptance will report full-year earnings of $32.13 per share for the current financial year, with EPS estimates ranging from $28.46 to $33.50. For the next fiscal year, analysts anticipate that the company will post earnings of $34.74 per share, with EPS estimates ranging from $34.36 to $35.12. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow Credit Acceptance.
Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings data on Wednesday, January 30th. The credit services provider reported $7.85 earnings per share for the quarter, topping the consensus estimate of $7.45 by $0.40. The business had revenue of $342.80 million during the quarter, compared to analysts’ expectations of $338.73 million. Credit Acceptance had a net margin of 44.64% and a return on equity of 30.64%. The business’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.16 EPS.
CACC has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating and set a $468.00 price target on the stock in a research report on Monday, February 4th. BidaskClub cut shares of Credit Acceptance from a “buy” rating to a “hold” rating in a research report on Thursday, November 8th. BTIG Research initiated coverage on shares of Credit Acceptance in a research report on Wednesday, January 23rd. They set a “sell” rating and a $340.00 price target on the stock. BMO Capital Markets increased their price target on shares of Credit Acceptance to $390.00 and gave the company a “market perform” rating in a research report on Monday, February 4th. Finally, Oppenheimer set a $420.00 price target on shares of Credit Acceptance and gave the company a “buy” rating in a research report on Tuesday, October 30th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $381.88.
CACC traded up $11.75 on Friday, reaching $447.74. The company had a trading volume of 280 shares, compared to its average volume of 110,425. The company has a market capitalization of $8.22 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.03 and a beta of 0.62. The company has a debt-to-equity ratio of 1.97, a current ratio of 36.75 and a quick ratio of 36.75. Credit Acceptance has a 52-week low of $299.00 and a 52-week high of $467.26.
In other Credit Acceptance news, insider Scott J. Vassalluzzo sold 5,000 shares of the firm’s stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $413.10, for a total transaction of $2,065,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Parametrica Management Ltd purchased a new position in Credit Acceptance during the fourth quarter valued at $487,000. Freestone Capital Holdings LLC purchased a new position in shares of Credit Acceptance in the 4th quarter worth about $235,000. Paradigm Financial Partners LLC purchased a new position in shares of Credit Acceptance in the 4th quarter worth about $349,000. Advisor Group Inc. raised its position in shares of Credit Acceptance by 113.0% in the 4th quarter. Advisor Group Inc. now owns 213 shares of the credit services provider’s stock worth $82,000 after purchasing an additional 113 shares during the last quarter. Finally, AlphaCrest Capital Management LLC purchased a new position in shares of Credit Acceptance in the 4th quarter worth about $267,000. 61.90% of the stock is owned by institutional investors and hedge funds.
Credit Acceptance Company Profile
Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.
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