Wall Street analysts expect that Credit Acceptance Corporation (NASDAQ:CACC) will report $5.26 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Credit Acceptance Corporation’s earnings, with the highest EPS estimate coming in at $5.41 and the lowest estimate coming in at $5.11. Credit Acceptance Corporation reported earnings of $4.33 per share in the same quarter last year, which would indicate a positive year over year growth rate of 21.5%. The firm is scheduled to issue its next earnings results on Tuesday, January 30th.

On average, analysts expect that Credit Acceptance Corporation 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 fiscal year, analysts expect that the business will report earnings of $21.95 per share, with EPS estimates ranging from $20.86 to $22.97. Zacks’ EPS averages are an average based on a survey of analysts that follow Credit Acceptance Corporation.

Credit Acceptance Corporation (NASDAQ:CACC) last posted its quarterly earnings results on Monday, October 30th. The credit services provider reported $5.43 EPS for the quarter, beating the Zacks’ consensus estimate of $5.15 by $0.28. The business had revenue of $283.90 million during the quarter, compared to the consensus estimate of $281.03 million. Credit Acceptance Corporation had a return on equity of 32.08% and a net margin of 35.29%. Credit Acceptance Corporation’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.53 earnings per share.

Several brokerages have recently issued reports on CACC. BidaskClub lowered shares of Credit Acceptance Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 6th. Zacks Investment Research lowered shares of Credit Acceptance Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $260.00 target price (up previously from $240.00) on shares of Credit Acceptance Corporation in a research note on Tuesday, October 10th. BMO Capital Markets reaffirmed a “hold” rating and issued a $238.00 target price on shares of Credit Acceptance Corporation in a research note on Friday, October 6th. Finally, Credit Suisse Group reaffirmed an “underperform” rating and issued a $200.00 target price (up previously from $190.00) on shares of Credit Acceptance Corporation in a research note on Tuesday, August 1st. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The company currently has an average rating of “Hold” and an average target price of $229.78.

Credit Acceptance Corporation (NASDAQ:CACC) traded down $2.29 during mid-day trading on Friday, reaching $280.79. The company had a trading volume of 224,620 shares, compared to its average volume of 235,141. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 13.97 and a beta of 0.51.

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A number of institutional investors have recently added to or reduced their stakes in CACC. Russell Investments Group Ltd. boosted its stake in Credit Acceptance Corporation by 46.1% during the 1st quarter. Russell Investments Group Ltd. now owns 732 shares of the credit services provider’s stock worth $146,000 after acquiring an additional 231 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Credit Acceptance Corporation by 9.1% during the 1st quarter. Wells Fargo & Company MN now owns 3,516 shares of the credit services provider’s stock worth $701,000 after acquiring an additional 293 shares during the last quarter. Karp Capital Management Corp bought a new position in Credit Acceptance Corporation during the 1st quarter worth approximately $244,000. Ameriprise Financial Inc. boosted its stake in Credit Acceptance Corporation by 27.4% during the 1st quarter. Ameriprise Financial Inc. now owns 3,394 shares of the credit services provider’s stock worth $676,000 after acquiring an additional 730 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Credit Acceptance Corporation by 1.5% during the 1st quarter. JPMorgan Chase & Co. now owns 13,694 shares of the credit services provider’s stock worth $2,731,000 after acquiring an additional 200 shares during the last quarter. 72.92% of the stock is currently owned by institutional investors and hedge funds.

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.

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Earnings History and Estimates for Credit Acceptance Corporation (NASDAQ:CACC)

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