Credit Acceptance (CACC) Set to Announce Quarterly Earnings on Wednesday

Credit Acceptance (NASDAQ:CACC) will be issuing its quarterly earnings data after the market closes on Wednesday, July 31st. Analysts expect the company to announce earnings of $10.11 per share for the quarter.

Credit Acceptance (NASDAQ:CACC) last posted its earnings results on Tuesday, April 30th. The credit services provider reported $9.28 earnings per share for the quarter, topping the consensus estimate of $6.81 by $2.47. The firm had revenue of $508.00 million for the quarter, compared to analyst estimates of $497.71 million. Credit Acceptance had a return on equity of 30.70% and a net margin of 12.83%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $9.71 earnings per share. On average, analysts expect Credit Acceptance to post $41 EPS for the current fiscal year and $47 EPS for the next fiscal year.

Credit Acceptance Stock Performance

CACC stock opened at $573.06 on Friday. The business’s 50-day moving average price is $513.70 and its two-hundred day moving average price is $532.05. The company has a current ratio of 13.79, a quick ratio of 13.79 and a debt-to-equity ratio of 3.29. The firm has a market cap of $6.94 billion, a PE ratio of 29.40 and a beta of 1.44. Credit Acceptance has a 1-year low of $379.77 and a 1-year high of $616.66.

Wall Street Analysts Forecast Growth

Separately, TD Cowen reduced their target price on Credit Acceptance from $465.00 to $420.00 and set a “sell” rating on the stock in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Credit Acceptance currently has a consensus rating of “Hold” and an average target price of $402.33.

About Credit Acceptance

Credit Acceptance Corporation engages in the provision of financing programs, and related products and services in the United States. The company advances money to automobile dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps the amount collected from the consumers.