Credit Acceptance (CACC) Set to Announce Earnings on Monday

Credit Acceptance (NASDAQ:CACC) will post its quarterly earnings results after the market closes on Monday, January 29th. Analysts expect Credit Acceptance to post earnings of $5.07 per share for the quarter.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Monday, October 30th. The credit services provider reported $5.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.15 by $0.28. The firm 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 company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.53 EPS. On average, analysts expect Credit Acceptance to post $21 EPS for the current fiscal year and $24 EPS for the next fiscal year.

Shares of Credit Acceptance (NASDAQ:CACC) opened at $346.50 on Monday. The firm has a market capitalization of $6,690.00, a PE ratio of 17.96, a price-to-earnings-growth ratio of 0.81 and a beta of 0.54. Credit Acceptance has a twelve month low of $182.50 and a twelve month high of $347.82. The company has a current ratio of 17.63, a quick ratio of 17.63 and a debt-to-equity ratio of 2.12.

Several analysts have weighed in on the company. BidaskClub raised Credit Acceptance from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 13th. Zacks Investment Research raised Credit Acceptance from a “hold” rating to a “strong-buy” rating and set a $390.00 price objective for the company in a report on Friday, January 12th. Oppenheimer assumed coverage on Credit Acceptance in a report on Monday, January 8th. They set a “buy” rating and a $355.00 price objective for the company. Credit Suisse Group reissued a “sell” rating and set a $270.00 price objective on shares of Credit Acceptance in a report on Monday, January 8th. Finally, Stephens set a $257.00 price objective on Credit Acceptance and gave the stock a “sell” rating in a report on Wednesday, January 3rd. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and two have issued a strong buy rating to the company’s stock. Credit Acceptance has a consensus rating of “Hold” and a consensus target price of $263.50.

In other news, major shareholder Jill Foss Watson sold 30,038 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $330.83, for a total value of $9,937,471.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 114,925 shares of company stock valued at $37,901,719. 5.80% of the stock is currently owned by company insiders.

An institutional investor recently raised its position in Credit Acceptance stock. The Manufacturers Life Insurance Company grew its stake in Credit Acceptance Corp. (NASDAQ:CACC) by 6.9% in the second 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 acquiring an additional 40 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Credit Acceptance were worth $159,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This news story was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another site, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2018/01/22/credit-acceptance-cacc-set-to-announce-earnings-on-monday.html.

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.

Earnings History for Credit Acceptance (NASDAQ:CACC)

Receive News & Ratings for Credit Acceptance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Credit Acceptance and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply