Credit Acceptance (CACC) to Release Earnings on Wednesday

Credit Acceptance (NASDAQ:CACC) will announce its earnings results after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $7.61 per share for the quarter.

Credit Acceptance (NASDAQ:CACC) last posted its earnings results on Wednesday, July 31st. The credit services provider reported $10.29 earnings per share for the quarter, topping analysts’ consensus estimates of $7.20 by $3.09. Credit Acceptance had a return on equity of 30.77% and a net margin of 9.01%. The firm had revenue of $538.20 million for the quarter, compared to the consensus estimate of $525.03 million. During the same quarter in the prior year, the business earned $10.69 EPS. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, analysts expect Credit Acceptance to post $39 EPS for the current fiscal year and $42 EPS for the next fiscal year.

Credit Acceptance Trading Down 0.1 %

NASDAQ CACC opened at $474.98 on Thursday. The stock’s 50 day moving average is $454.90 and its 200 day moving average is $493.50. The company has a quick ratio of 19.15, a current ratio of 19.15 and a debt-to-equity ratio of 3.77. The firm has a market capitalization of $5.75 billion, a PE ratio of 24.37 and a beta of 1.42. Credit Acceptance has a twelve month low of $379.77 and a twelve month high of $616.66.

Wall Street Analyst Weigh In

Separately, TD Cowen reduced their price target on Credit Acceptance from $440.00 to $400.00 and set a “sell” rating for the company in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $395.67.

Insider Buying and Selling at Credit Acceptance

In other news, insider Thomas W. Smith sold 1,200 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $451.01, for a total value of $541,212.00. Following the completion of the sale, the insider now directly owns 74,450 shares of the company’s stock, valued at $33,577,694.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.30% of the stock is currently owned by corporate insiders.

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.