Zacks: Analysts Anticipate Credit Acceptance Co. (NASDAQ:CACC) Will Post Earnings of $13.13 Per Share

Brokerages predict that Credit Acceptance Co. (NASDAQ:CACCGet Rating) will announce earnings per share of $13.13 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Credit Acceptance’s earnings, with the lowest EPS estimate coming in at $12.15 and the highest estimate coming in at $14.11. Credit Acceptance posted earnings of $11.82 per share in the same quarter last year, which indicates a positive year over year growth rate of 11.1%. The firm is expected to issue its next earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Credit Acceptance will report full-year earnings of $47.34 per share for the current year, with EPS estimates ranging from $40.16 to $51.73. For the next year, analysts forecast that the company will post earnings of $46.12 per share, with EPS estimates ranging from $36.54 to $52.70. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Credit Acceptance.

Credit Acceptance (NASDAQ:CACCGet Rating) last released its quarterly earnings results on Monday, January 31st. The credit services provider reported $14.26 earnings per share for the quarter, missing the consensus estimate of $14.75 by ($0.49). Credit Acceptance had a return on equity of 38.72% and a net margin of 51.63%. The company had revenue of $463.20 million for the quarter, compared to analyst estimates of $458.23 million. During the same quarter last year, the company earned $10.75 EPS.

Several research firms recently weighed in on CACC. StockNews.com downgraded shares of Credit Acceptance from a “buy” rating to a “hold” rating in a research report on Monday, April 11th. BMO Capital Markets upped their price target on shares of Credit Acceptance from $411.00 to $428.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 1st. Finally, Zacks Investment Research upgraded shares of Credit Acceptance from a “sell” rating to a “hold” rating and set a $582.00 price target for the company in a research report on Monday, April 4th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $460.80.

Shares of CACC traded down $25.35 during mid-day trading on Friday, hitting $512.50. 54,937 shares of the company were exchanged, compared to its average volume of 84,199. Credit Acceptance has a 1-year low of $380.50 and a 1-year high of $703.27. The company has a debt-to-equity ratio of 2.53, a quick ratio of 39.04 and a current ratio of 39.04. The company has a 50 day moving average of $538.02 and a 200-day moving average of $588.31. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of 8.63 and a beta of 1.25.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Coastal Investment Advisors Inc. raised its position in shares of Credit Acceptance by 3.0% during the 1st quarter. Coastal Investment Advisors Inc. now owns 678 shares of the credit services provider’s stock valued at $373,000 after buying an additional 20 shares during the period. MBM Wealth Consultants LLC raised its position in shares of Credit Acceptance by 6.3% during the 4th quarter. MBM Wealth Consultants LLC now owns 369 shares of the credit services provider’s stock valued at $254,000 after buying an additional 22 shares during the period. Panagora Asset Management Inc. raised its position in shares of Credit Acceptance by 3.8% during the 3rd quarter. Panagora Asset Management Inc. now owns 703 shares of the credit services provider’s stock valued at $411,000 after buying an additional 26 shares during the period. Advisor Group Holdings Inc. raised its position in shares of Credit Acceptance by 12.6% during the 4th quarter. Advisor Group Holdings Inc. now owns 250 shares of the credit services provider’s stock valued at $171,000 after buying an additional 28 shares during the period. Finally, Truist Financial Corp raised its position in shares of Credit Acceptance by 3.5% during the 3rd quarter. Truist Financial Corp now owns 847 shares of the credit services provider’s stock valued at $496,000 after buying an additional 29 shares during the period. 66.55% of the stock is currently 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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Earnings History and Estimates for Credit Acceptance (NASDAQ:CACC)

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