Brokerages predict that Credit Acceptance Corporation (NASDAQ:CACC) will announce $289.56 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Credit Acceptance Corporation’s earnings, with the lowest sales estimate coming in at $288.82 million and the highest estimate coming in at $290.30 million. Credit Acceptance Corporation reported sales of $256.20 million during the same quarter last year, which indicates a positive year over year growth rate of 13%. The firm is expected to report its next earnings report on Tuesday, January 30th.

On average, analysts expect that Credit Acceptance Corporation will report full-year sales of $289.56 million for the current fiscal year. For the next year, analysts expect that the business will report sales of $1.20 billion per share, with estimates ranging from $1.18 billion to $1.23 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Credit Acceptance Corporation.

Credit Acceptance Corporation (NASDAQ:CACC) last issued its earnings results on Monday, October 30th. The credit services provider reported $5.43 earnings per share for the quarter, topping 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%. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.53 earnings per share.

A number of brokerages have weighed in on CACC. BMO Capital Markets reiterated a “market perform” rating and issued a $252.00 target price (up from $238.00) on shares of Credit Acceptance Corporation in a report on Tuesday, October 31st. Bank of America Corporation lifted their target price on Credit Acceptance Corporation from $195.00 to $230.00 and gave the stock an “underperform” rating in a report on Tuesday, October 31st. JMP Securities reiterated an “underperform” rating and issued a $195.00 target price (up from $180.00) on shares of Credit Acceptance Corporation in a report on Tuesday, August 1st. Credit Suisse Group lifted their target price on Credit Acceptance Corporation from $200.00 to $225.00 and gave the stock an “underperform” rating in a report on Tuesday, October 31st. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $240.00 target price (up from $215.00) on shares of Credit Acceptance Corporation in a report on Tuesday, August 1st. Four equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Credit Acceptance Corporation currently has a consensus rating of “Hold” and an average price target of $229.78.

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Shares of Credit Acceptance Corporation (NASDAQ:CACC) opened at $280.79 on Friday. The firm has a market capitalization of $5,422.05, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 1.15 and a beta of 0.51. The company has a quick ratio of 33.28, a current ratio of 17.63 and a debt-to-equity ratio of 2.12. Credit Acceptance Corporation has a 1-year low of $163.17 and a 1-year high of $299.92.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in shares of Credit Acceptance Corporation by 46.1% during the first quarter. Russell Investments Group Ltd. now owns 732 shares of the credit services provider’s stock valued at $146,000 after acquiring an additional 231 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Credit Acceptance Corporation by 102.8% during the second quarter. SG Americas Securities LLC now owns 618 shares of the credit services provider’s stock valued at $159,000 after acquiring an additional 22,463 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Credit Acceptance Corporation by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 619 shares of the credit services provider’s stock valued at $159,000 after acquiring an additional 40 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Credit Acceptance Corporation during the first quarter valued at approximately $177,000. Finally, Rathbone Brothers plc bought a new stake in shares of Credit Acceptance Corporation during the third quarter valued at approximately $210,000. Hedge funds and other institutional investors own 72.92% of the company’s stock.

Credit Acceptance Corporation Company Profile

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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