Wall Street analysts expect Credit Acceptance Co. (NASDAQ:CACC) to announce earnings of $12.72 per share for the current quarter, according to Zacks. Two analysts have issued estimates for Credit Acceptance’s earnings. The lowest EPS estimate is $12.36 and the highest is $13.08. Credit Acceptance posted earnings per share of $9.43 during the same quarter last year, which indicates a positive year over year growth rate of 34.9%. The business is expected to issue its next earnings report on Monday, February 7th.
On average, analysts expect that Credit Acceptance will report full-year earnings of $55.69 per share for the current year, with EPS estimates ranging from $52.04 to $57.87. For the next fiscal year, analysts expect that the business will report earnings of $42.91 per share, with EPS estimates ranging from $36.21 to $48.96. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Credit Acceptance.
Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Monday, November 1st. The credit services provider reported $15.79 earnings per share for the quarter, beating the consensus estimate of $13.45 by $2.34. The business had revenue of $470.10 million during the quarter, compared to analyst estimates of $461.37 million. Credit Acceptance had a return on equity of 35.64% and a net margin of 49.29%. Credit Acceptance’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $9.36 earnings per share.
Credit Acceptance stock traded down $2.57 during midday trading on Thursday, reaching $648.88. The stock had a trading volume of 85,650 shares, compared to its average volume of 129,218. Credit Acceptance has a 12 month low of $292.46 and a 12 month high of $703.27. The firm’s 50-day moving average price is $625.68 and its 200 day moving average price is $539.26. The firm has a market capitalization of $9.43 billion, a PE ratio of 11.97 and a beta of 1.17. The company has a quick ratio of 21.99, a current ratio of 21.99 and a debt-to-equity ratio of 2.32.
In other news, insider Daniel A. Ulatowski sold 1,000 shares of the business’s stock in a transaction dated Thursday, November 4th. The stock was sold at an average price of $691.00, for a total transaction of $691,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Donald A. Foss sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 2nd. The stock was sold at an average price of $670.94, for a total value of $1,341,880.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,476 shares of company stock worth $47,864,847. Company insiders own 4.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Private Ocean LLC bought a new position in shares of Credit Acceptance during the second quarter valued at approximately $30,000. JNBA Financial Advisors bought a new position in shares of Credit Acceptance during the third quarter valued at approximately $43,000. Meeder Asset Management Inc. raised its holdings in shares of Credit Acceptance by 2,300.0% during the second quarter. Meeder Asset Management Inc. now owns 96 shares of the credit services provider’s stock valued at $44,000 after acquiring an additional 92 shares in the last quarter. Harvest Fund Management Co. Ltd raised its holdings in shares of Credit Acceptance by 345.5% during the second quarter. Harvest Fund Management Co. Ltd now owns 98 shares of the credit services provider’s stock valued at $44,000 after acquiring an additional 76 shares in the last quarter. Finally, Bbva USA bought a new position in shares of Credit Acceptance during the second quarter valued at approximately $50,000. 95.02% of the stock is owned by hedge funds and other institutional investors.
About Credit Acceptance
Credit Acceptance Corp. engages in the provision of dealer financing programs that enables automobile dealers to sell vehicles to consumers, regardless of its credit history. Its financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers.
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