Credit Acceptance Corporation (CACC) Scheduled to Post Quarterly Earnings on Monday
Credit Acceptance Corporation (NASDAQ:CACC) will issue its quarterly earnings data after the market closes on Monday, October 30th. Analysts expect the company to announce earnings of $4.93 per share for the quarter.
Credit Acceptance Corporation (NASDAQ:CACC) last posted its quarterly earnings results on Monday, July 31st. The credit services provider reported $5.22 EPS for the quarter, beating the consensus estimate of $4.89 by $0.33. The company had revenue of $253.20 million during the quarter, compared to analysts’ expectations of $268.18 million. Credit Acceptance Corporation had a return on equity of 32.24% and a net margin of 35.13%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.38 EPS. On average, analysts expect Credit Acceptance Corporation to post $19.90 EPS for the current fiscal year and $21.50 EPS for the next fiscal year.
Shares of Credit Acceptance Corporation (NASDAQ:CACC) opened at 284.00 on Monday. The stock has a market cap of $5.53 billion, a PE ratio of 15.52 and a beta of 0.55. Credit Acceptance Corporation has a 12-month low of $160.63 and a 12-month high of $288.23. The firm has a 50-day moving average price of $275.18 and a 200 day moving average price of $245.64.
In other Credit Acceptance Corporation news, insider Douglas W. Busk sold 2,500 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $267.72, for a total value of $669,300.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kenneth Booth sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $273.01, for a total value of $546,020.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 152,858 shares of company stock worth $41,562,168. Insiders own 5.80% of the company’s stock.
A hedge fund recently raised its stake in Credit Acceptance Corporation stock. The Manufacturers Life Insurance Company grew its position in Credit Acceptance Corporation (NASDAQ:CACC) by 6.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 619 shares of the credit services provider’s stock after purchasing an additional 40 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Credit Acceptance Corporation were worth $159,000 at the end of the most recent quarter. 72.71% of the stock is currently owned by institutional investors.
CACC has been the topic of several recent analyst reports. Zacks Investment Research lowered Credit Acceptance Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Jefferies Group LLC reissued a “hold” rating and set a $260.00 price target (up from $240.00) on shares of Credit Acceptance Corporation in a research report on Tuesday, October 10th. Raymond James Financial, Inc. raised Credit Acceptance Corporation from an “underperform” rating to a “market perform” rating in a research report on Tuesday, August 1st. BMO Capital Markets reissued a “hold” rating and set a $238.00 price target on shares of Credit Acceptance Corporation in a research report on Friday, October 6th. Finally, BidaskClub lowered Credit Acceptance Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. The stock has an average rating of “Hold” and an average target price of $224.88.
About Credit Acceptance Corporation
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.
Receive News & Ratings for Credit Acceptance Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Credit Acceptance Corporation and related companies with MarketBeat.com's FREE daily email newsletter.