Credit Acceptance Corporation (CACC) Expected to Post Quarterly Sales of $289.56 Million

Analysts predict that Credit Acceptance Corporation (NASDAQ:CACC) will report $289.56 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Credit Acceptance’s earnings, with estimates ranging from $288.82 million to $290.30 million. Credit Acceptance reported sales of $256.20 million in the same quarter last year, which indicates a positive year over year growth rate of 13%. The business is scheduled to issue its next earnings results on Tuesday, January 30th.

On average, analysts expect that Credit Acceptance will report full year sales of $289.56 million for the current year. For the next fiscal year, analysts expect that the firm 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 sell-side research firms that cover Credit Acceptance.

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

A number of research firms recently commented on CACC. Bank of America upped their price objective on Credit Acceptance from $195.00 to $230.00 and gave the company an “underperform” rating in a research report on Tuesday, October 31st. Credit Suisse Group boosted their price target on Credit Acceptance from $200.00 to $225.00 and gave the company an “underperform” rating in a report on Tuesday, October 31st. BMO Capital Markets reissued a “market perform” rating and set a $252.00 price target (up previously from $238.00) on shares of Credit Acceptance in a report on Tuesday, October 31st. Zacks Investment Research lowered Credit Acceptance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, Jefferies Group reissued a “hold” rating and set a $260.00 price target (up previously from $240.00) on shares of Credit Acceptance in a report on Tuesday, October 10th. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $229.78.

Shares of Credit Acceptance (NASDAQ CACC) opened at $322.28 on Tuesday. The company has a market capitalization of $6,165.36, a price-to-earnings ratio of 15.88, a P/E/G ratio of 1.30 and a beta of 0.53. The company has a current ratio of 17.63, a quick ratio of 17.63 and a debt-to-equity ratio of 2.12. Credit Acceptance has a 1 year low of $182.50 and a 1 year high of $324.08.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. bought a new position in shares of Credit Acceptance in the second quarter worth about $28,338,000. Rational Advisors LLC bought a new position in shares of Credit Acceptance in the third quarter worth about $1,180,000. Rhumbline Advisers boosted its stake in shares of Credit Acceptance by 23.3% in the second quarter. Rhumbline Advisers now owns 15,244 shares of the credit services provider’s stock worth $3,920,000 after acquiring an additional 2,883 shares during the period. Caldwell & Orkin Inc. bought a new position in shares of Credit Acceptance in the second quarter worth about $2,186,000. Finally, Allen Investment Management LLC boosted its stake in shares of Credit Acceptance by 28.1% in the second quarter. Allen Investment Management LLC now owns 3,002 shares of the credit services provider’s stock worth $772,000 after acquiring an additional 658 shares during the period. 70.72% of the stock is owned by hedge funds and other institutional investors.

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Credit Acceptance 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 (NASDAQ:CACC)

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