Credit Acceptance (CACC) to Release Earnings on Wednesday

Credit Acceptance (NASDAQ:CACC) is set to issue its quarterly earnings data after the market closes on Wednesday, July 31st. Analysts expect the company to announce earnings of $10.11 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $9.28 earnings per share for the quarter, topping the consensus estimate of $6.81 by $2.47. Credit Acceptance had a return on equity of 30.70% and a net margin of 12.83%. The business had revenue of $508.00 million during the quarter, compared to analysts’ expectations of $497.71 million. During the same period last year, the firm posted $9.71 EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, analysts expect Credit Acceptance to post $41 EPS for the current fiscal year and $47 EPS for the next fiscal year.

Credit Acceptance Stock Performance

Shares of CACC traded up $12.14 during midday trading on Tuesday, reaching $579.18. 12,061 shares of the stock were exchanged, compared to its average volume of 58,787. The stock’s 50 day simple moving average is $515.16 and its 200 day simple moving average is $532.21. The company has a market cap of $7.01 billion, a P/E ratio of 29.72 and a beta of 1.44. Credit Acceptance has a twelve month low of $379.77 and a twelve month high of $616.66. The company has a quick ratio of 13.79, a current ratio of 13.79 and a debt-to-equity ratio of 3.29.

Analysts Set New Price Targets

Separately, TD Cowen dropped their price objective on shares of Credit Acceptance from $465.00 to $420.00 and set a “sell” rating for the company in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $402.33.

Credit Acceptance Company Profile

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.