Credit Acceptance (NASDAQ:CACC) Announces Earnings Results

Credit Acceptance (NASDAQ:CACC) announced its quarterly earnings results on Tuesday. The credit services provider reported $8.60 earnings per share for the quarter, beating analysts’ consensus estimates of $8.52 by $0.08, Briefing.com reports. Credit Acceptance had a return on equity of 30.17% and a net margin of 46.00%. The firm had revenue of $370.60 million for the quarter, compared to analysts’ expectations of $363.38 million. During the same period in the prior year, the business posted $6.95 earnings per share. The business’s revenue was up 17.5% compared to the same quarter last year.

Shares of CACC stock traded down $10.78 during trading hours on Wednesday, hitting $476.17. 6,857 shares of the company’s stock were exchanged, compared to its average volume of 60,507. The company has a 50-day moving average price of $485.19. The company has a current ratio of 31.27, a quick ratio of 31.27 and a debt-to-equity ratio of 2.07. The firm has a market cap of $9.26 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 0.90 and a beta of 0.77. Credit Acceptance has a 52 week low of $356.12 and a 52 week high of $509.99.

A number of brokerages have weighed in on CACC. BidaskClub upgraded Winmark from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th. Credit Suisse Group upped their price target on QTS Realty Trust from $44.00 to $46.00 and gave the company a “neutral” rating in a research report on Wednesday. Zacks Investment Research cut Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. BTIG Research restated a “sell” rating and set a $340.00 target price on shares of Credit Acceptance in a report on Wednesday. Finally, Stephens restated a “hold” rating and set a $110.00 target price on shares of Twilio in a report on Tuesday, April 30th. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $412.67.

Credit Acceptance Company Profile

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 for Credit Acceptance (NASDAQ:CACC)

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