Wall Street brokerages expect Credit Acceptance Corp. (NASDAQ:CACC) to post $8.96 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Credit Acceptance’s earnings, with the lowest EPS estimate coming in at $8.86 and the highest estimate coming in at $9.04. Credit Acceptance posted earnings per share of $7.79 in the same quarter last year, which would suggest a positive year-over-year growth rate of 15%. The firm is expected to issue its next quarterly earnings report on Wednesday, January 29th.
According to Zacks, analysts expect that Credit Acceptance will report full-year earnings of $34.98 per share for the current year, with EPS estimates ranging from $34.92 to $35.04. For the next year, analysts expect that the firm will post earnings of $27.45 per share, with EPS estimates ranging from $18.56 to $38.95. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Credit Acceptance.
Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings data on Friday, November 1st. The credit services provider reported $8.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.86 by $0.03. The company had revenue of $378.70 million for the quarter, compared to analyst estimates of $380.69 million. Credit Acceptance had a return on equity of 29.54% and a net margin of 44.69%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the company posted $7.56 earnings per share.
In other Credit Acceptance news, CFO Kenneth Booth bought 1,250 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was acquired at an average price of $410.61 per share, for a total transaction of $513,262.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brett A. Roberts sold 9,937 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $427.63, for a total transaction of $4,249,359.31. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in CACC. Usca Ria LLC acquired a new stake in Credit Acceptance in the third quarter valued at about $30,000. Pearl River Capital LLC acquired a new stake in Credit Acceptance in the second quarter valued at about $42,000. Smithfield Trust Co. acquired a new stake in Credit Acceptance in the third quarter valued at about $96,000. NumerixS Investment Technologies Inc acquired a new stake in Credit Acceptance in the second quarter valued at about $97,000. Finally, Point72 Hong Kong Ltd lifted its position in Credit Acceptance by 187.1% in the second quarter. Point72 Hong Kong Ltd now owns 244 shares of the credit services provider’s stock valued at $118,000 after purchasing an additional 159 shares during the period. Institutional investors and hedge funds own 59.70% of the company’s stock.
Shares of CACC stock traded up $5.07 during mid-day trading on Monday, hitting $435.53. 115,834 shares of the stock were exchanged, compared to its average volume of 94,868. The stock’s fifty day simple moving average is $440.03 and its two-hundred day simple moving average is $463.88. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of 15.34, a P/E/G ratio of 1.13 and a beta of 0.69. Credit Acceptance has a 12-month low of $356.12 and a 12-month high of $509.99. The company has a debt-to-equity ratio of 1.75, a quick ratio of 29.49 and a current ratio of 29.49.
About Credit Acceptance
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.
Further Reading: Cost of Goods Sold (COGS)
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