Wall Street brokerages forecast that Credit Acceptance Co. (NASDAQ:CACC – Get Rating) will post earnings of $12.83 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Credit Acceptance’s earnings, with estimates ranging from $12.26 to $13.39. Credit Acceptance posted earnings per share of $17.18 in the same quarter last year, which would suggest a negative year over year growth rate of 25.3%. The firm is scheduled to issue its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Credit Acceptance will report full-year earnings of $48.30 per share for the current fiscal year, with EPS estimates ranging from $40.16 to $53.01. For the next year, analysts anticipate that the business will post earnings of $46.23 per share, with EPS estimates ranging from $36.54 to $53.05. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that that provide coverage for Credit Acceptance.
Credit Acceptance (NASDAQ:CACC – Get Rating) last announced its earnings results on Monday, May 2nd. The credit services provider reported $13.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $13.30 by $0.46. Credit Acceptance had a net margin of 52.16% and a return on equity of 44.07%. The company had revenue of $455.70 million for the quarter, compared to the consensus estimate of $443.64 million. During the same period in the previous year, the business earned $9.64 EPS.
In other Credit Acceptance news, insider Prescott General Partners Llc sold 28,897 shares of the stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $608.37, for a total transaction of $17,580,067.89. Following the transaction, the insider now directly owns 1,090,732 shares of the company’s stock, valued at $663,568,626.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.50% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its stake in shares of Credit Acceptance by 60.5% in the fourth quarter. American Century Companies Inc. now owns 1,802 shares of the credit services provider’s stock valued at $1,239,000 after buying an additional 679 shares during the period. Dupont Capital Management Corp lifted its stake in shares of Credit Acceptance by 87.4% in the fourth quarter. Dupont Capital Management Corp now owns 2,834 shares of the credit services provider’s stock valued at $1,949,000 after buying an additional 1,322 shares during the period. Barclays PLC lifted its stake in shares of Credit Acceptance by 166.4% in the third quarter. Barclays PLC now owns 8,889 shares of the credit services provider’s stock valued at $5,203,000 after buying an additional 5,552 shares during the period. LRT Capital Management LLC bought a new stake in shares of Credit Acceptance in the fourth quarter valued at about $4,269,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Credit Acceptance in the fourth quarter valued at about $208,000. Institutional investors own 65.05% of the company’s stock.
NASDAQ CACC opened at $552.50 on Friday. Credit Acceptance has a 1-year low of $381.93 and a 1-year high of $703.27. The company has a current ratio of 21.07, a quick ratio of 21.07 and a debt-to-equity ratio of 2.85. The company has a market capitalization of $7.26 billion, a PE ratio of 8.84 and a beta of 1.22. The firm’s fifty day simple moving average is $556.81 and its 200-day simple moving average is $585.42.
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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