Wall Street brokerages expect Credit Acceptance Corp. (NASDAQ:CACC) to post earnings per share (EPS) of $8.49 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Credit Acceptance’s earnings. The lowest EPS estimate is $8.18 and the highest is $8.79. Credit Acceptance posted earnings of $6.95 per share in the same quarter last year, which would suggest a positive year over year growth rate of 22.2%. The company is expected to report its next earnings report on Tuesday, July 30th.

On average, analysts expect that Credit Acceptance will report full-year earnings of $34.48 per share for the current year, with EPS estimates ranging from $33.08 to $35.76. For the next financial year, analysts forecast that the business will report earnings of $37.12 per share, with EPS estimates ranging from $36.86 to $37.32. Zacks’ earnings per share averages are a mean average based on a survey of analysts that cover Credit Acceptance.

Credit Acceptance (NASDAQ:CACC) last issued its earnings results on Monday, April 29th. The credit services provider reported $8.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $7.93 by $0.15. The firm had revenue of $342.80 million for the quarter, compared to analyst estimates of $350.35 million. Credit Acceptance had a return on equity of 30.17% and a net margin of 46.00%. The business’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company posted $6.11 earnings per share.

Several brokerages have issued reports on CACC. Stephens boosted their target price on Credit Acceptance from $381.00 to $495.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 30th. Zacks Investment Research lowered Credit Acceptance from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. BidaskClub upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Buckingham Research began coverage on Credit Acceptance in a research note on Thursday, March 28th. They issued a “neutral” rating and a $440.00 target price on the stock. Finally, BMO Capital Markets boosted their target price on Credit Acceptance to $390.00 and gave the company a “market perform” rating in a research note on Monday, February 4th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $407.67.

Shares of CACC opened at $473.48 on Friday. The firm has a market capitalization of $9.14 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 0.90 and a beta of 0.70. The company has a debt-to-equity ratio of 2.07, a quick ratio of 31.27 and a current ratio of 31.27. Credit Acceptance has a 1 year low of $337.30 and a 1 year high of $509.99.

In related news, CFO Kenneth Booth sold 1,000 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $500.00, for a total transaction of $500,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its stake in Credit Acceptance by 3.1% in the 3rd quarter. Legal & General Group Plc now owns 5,301 shares of the credit services provider’s stock worth $2,322,000 after acquiring an additional 158 shares during the last quarter. Federated Investors Inc. PA increased its stake in Credit Acceptance by 355.0% in the 3rd quarter. Federated Investors Inc. PA now owns 91 shares of the credit services provider’s stock worth $40,000 after acquiring an additional 71 shares during the last quarter. First Hawaiian Bank increased its stake in Credit Acceptance by 73.9% in the 4th quarter. First Hawaiian Bank now owns 706 shares of the credit services provider’s stock worth $270,000 after acquiring an additional 300 shares during the last quarter. JLB & Associates Inc. bought a new position in Credit Acceptance in the 4th quarter worth about $1,236,000. Finally, Virtu Financial LLC increased its stake in Credit Acceptance by 28.8% in the 4th quarter. Virtu Financial LLC now owns 658 shares of the credit services provider’s stock worth $251,000 after acquiring an additional 147 shares during the last quarter. Institutional investors own 63.81% of the company’s stock.

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.

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Earnings History and Estimates for Credit Acceptance (NASDAQ:CACC)

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