Credit Acceptance (CACC) Scheduled to Post Earnings on Wednesday

Credit Acceptance (NASDAQ:CACC) will be releasing its earnings data after the market closes on Wednesday, October 30th. Analysts expect Credit Acceptance to post earnings of $7.61 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $10.29 earnings per share for the quarter, topping the consensus estimate of $7.20 by $3.09. The business had revenue of $538.20 million for the quarter, compared to analysts’ expectations of $525.03 million. Credit Acceptance had a net margin of 9.01% and a return on equity of 30.77%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the company earned $10.69 earnings per share. On average, analysts expect Credit Acceptance to post $39 EPS for the current fiscal year and $42 EPS for the next fiscal year.

Credit Acceptance Stock Performance

Shares of CACC opened at $465.59 on Tuesday. Credit Acceptance has a 12 month low of $379.77 and a 12 month high of $616.66. The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 23.89 and a beta of 1.42. The stock has a 50 day moving average of $455.60 and a 200 day moving average of $491.24. The company has a current ratio of 19.15, a quick ratio of 19.15 and a debt-to-equity ratio of 3.77.

Wall Street Analysts Forecast Growth

Separately, TD Cowen lowered their price objective on shares of Credit Acceptance from $440.00 to $400.00 and set a “sell” rating on the stock in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $395.67.

Insiders Place Their Bets

In other news, insider Thomas W. Smith sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $451.01, for a total value of $541,212.00. Following the sale, the insider now owns 74,450 shares of the company’s stock, valued at $33,577,694.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 5.30% of the company’s stock.

About Credit Acceptance

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.