Analysts Expect Credit Acceptance Corp. (CACC) Will Announce Quarterly Sales of $282.37 Million

Wall Street brokerages predict that Credit Acceptance Corp. (NASDAQ:CACC) will report $282.37 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Credit Acceptance’s earnings. The highest sales estimate is $290.30 million and the lowest is $268.00 million. Credit Acceptance posted sales of $256.20 million during the same quarter last year, which suggests a positive year-over-year growth rate of 10.2%. The firm is scheduled to issue its next earnings report on Tuesday, January 30th.

According to Zacks, analysts expect that Credit Acceptance will report full-year sales of $282.37 million for the current year, with estimates ranging from $1.00 billion to $1.11 billion. For the next year, analysts expect that the company will post sales of $1.18 billion per share, with estimates ranging from $1.13 billion to $1.23 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Credit Acceptance.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings results on Monday, October 30th. The credit services provider reported $5.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.15 by $0.28. The business 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%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.53 EPS.

Several equities research analysts recently commented on the company. BidaskClub cut Credit Acceptance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 6th. Credit Suisse Group reissued a “sell” rating and issued a $270.00 price target on shares of Credit Acceptance in a research note on Monday, January 8th. BMO Capital Markets reissued a “market perform” rating and issued a $252.00 price target (up previously from $238.00) on shares of Credit Acceptance in a research note on Tuesday, October 31st. Jefferies Group reissued a “hold” rating and issued a $260.00 price target (up previously from $240.00) on shares of Credit Acceptance in a research note on Tuesday, October 10th. Finally, Oppenheimer assumed coverage on Credit Acceptance in a research note on Monday, January 8th. They issued a “buy” rating and a $355.00 price target for the company. Four analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $263.50.

In other Credit Acceptance news, major shareholder Jill Foss Watson sold 31,463 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $335.06, for a total transaction of $10,541,992.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 114,925 shares of company stock valued at $37,901,719 in the last ninety days. Company insiders own 5.80% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. boosted its position in Credit Acceptance by 437.0% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 537 shares of the credit services provider’s stock worth $150,000 after purchasing an additional 437 shares during the period. SG Americas Securities LLC boosted its position in Credit Acceptance by 102.8% during the second quarter. SG Americas Securities LLC now owns 618 shares of the credit services provider’s stock worth $159,000 after purchasing an additional 22,463 shares during the period. The Manufacturers Life Insurance Company boosted its position in Credit Acceptance by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 619 shares of the credit services provider’s stock worth $159,000 after purchasing an additional 40 shares during the period. Rathbone Brothers plc bought a new stake in shares of Credit Acceptance in the third quarter valued at approximately $210,000. Finally, First Capital Advisors Group LLC. bought a new stake in shares of Credit Acceptance in the third quarter valued at approximately $233,000. 70.70% of the stock is owned by hedge funds and other institutional investors.

Shares of Credit Acceptance (NASDAQ CACC) traded down $4.27 during midday trading on Tuesday, hitting $336.72. The company had a trading volume of 150,539 shares, compared to its average volume of 147,100. The company has a market cap of $6,584.59, a PE ratio of 17.42, a price-to-earnings-growth ratio of 1.04 and a beta of 0.54. Credit Acceptance has a 1-year low of $182.50 and a 1-year high of $344.21. The company has a current ratio of 17.63, a quick ratio of 17.63 and a debt-to-equity ratio of 2.12.

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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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