Wall Street analysts predict that Credit Acceptance Co. (NASDAQ:CACC – Get Rating) will post sales of $443.64 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Credit Acceptance’s earnings, with the highest sales estimate coming in at $446.27 million and the lowest estimate coming in at $441.00 million. Credit Acceptance posted sales of $451.00 million in the same quarter last year, which indicates a negative year over year growth rate of 1.6%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Credit Acceptance will report full-year sales of $1.73 billion for the current financial year, with estimates ranging from $1.71 billion to $1.75 billion. For the next financial year, analysts expect that the company will report sales of $1.69 billion, with estimates ranging from $1.67 billion to $1.72 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Credit Acceptance.
Credit Acceptance (NASDAQ:CACC – Get Rating) last issued its earnings results on Monday, January 31st. The credit services provider reported $14.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $14.75 by ($0.49). The firm had revenue of $463.20 million during the quarter, compared to analyst estimates of $458.23 million. Credit Acceptance had a return on equity of 38.72% and a net margin of 51.63%. During the same period in the previous year, the company earned $10.75 EPS.
Shares of CACC stock traded up $10.83 on Monday, hitting $585.93. The company had a trading volume of 103,113 shares, compared to its average volume of 92,602. The firm has a market cap of $8.27 billion, a P/E ratio of 9.87 and a beta of 1.25. The stock’s 50-day moving average is $534.35 and its two-hundred day moving average is $591.99. The company has a debt-to-equity ratio of 2.53, a quick ratio of 39.04 and a current ratio of 39.04. Credit Acceptance has a twelve month low of $360.04 and a twelve month high of $703.27.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its holdings in Credit Acceptance by 170.5% in the second quarter. Morgan Stanley now owns 32,274 shares of the credit services provider’s stock worth $14,656,000 after acquiring an additional 20,342 shares in the last quarter. PAX Financial Group LLC bought a new position in Credit Acceptance in the third quarter worth approximately $219,000. QCM Cayman Ltd. bought a new position in Credit Acceptance in the third quarter worth approximately $242,000. Dupont Capital Management Corp bought a new position in Credit Acceptance in the third quarter worth approximately $885,000. Finally, Deutsche Bank AG boosted its holdings in Credit Acceptance by 47.7% in the third quarter. Deutsche Bank AG now owns 4,955 shares of the credit services provider’s stock worth $2,900,000 after acquiring an additional 1,601 shares in the last quarter. 66.55% of the stock is owned by institutional investors and hedge funds.
About Credit Acceptance (Get Rating)
Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.
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