Equities research analysts predict that Credit Acceptance Co. (NASDAQ:CACC) will report earnings per share of $12.72 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Credit Acceptance’s earnings, with estimates ranging from $12.36 to $13.08. Credit Acceptance posted earnings per share of $9.43 during the same quarter last year, which would suggest a positive year over year growth rate of 34.9%. The business is scheduled to announce its next quarterly 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 financial year, with EPS estimates ranging from $52.04 to $57.87. For the next year, analysts forecast that the business will post 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 an average based on a survey of sell-side analysts that cover Credit Acceptance.
Credit Acceptance (NASDAQ:CACC) last released its earnings results on Monday, November 1st. The credit services provider reported $15.79 earnings per share for the quarter, beating analysts’ consensus estimates of $13.45 by $2.34. Credit Acceptance had a return on equity of 35.64% and a net margin of 49.29%. The company had revenue of $470.10 million during the quarter, compared to analyst estimates of $461.37 million. During the same quarter in the previous year, the company posted $9.36 EPS. Credit Acceptance’s revenue for the quarter was up 10.2% on a year-over-year basis.
NASDAQ:CACC traded down $2.57 during mid-day trading on Thursday, reaching $648.88. 85,650 shares of the company’s stock traded hands, 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 has a market capitalization of $9.43 billion, a price-to-earnings ratio of 11.97 and a beta of 1.17. The company has a debt-to-equity ratio of 2.32, a current ratio of 21.99 and a quick ratio of 21.99. The company has a 50 day moving average price of $625.68 and a 200-day moving average price of $539.26.
In related news, insider Prescott General Partners Llc sold 32,301 shares of the company’s stock in a transaction that occurred on Wednesday, September 8th. The stock was sold at an average price of $650.46, for a total value of $21,010,508.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Kenneth Booth sold 2,000 shares of the stock in a transaction on Friday, November 5th. The shares were sold at an average price of $700.00, for a total value of $1,400,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 71,476 shares of company stock worth $47,864,847 in the last quarter. Company insiders own 4.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Credit Acceptance by 6.4% during the 2nd quarter. Vanguard Group Inc. now owns 920,950 shares of the credit services provider’s stock valued at $418,213,000 after purchasing an additional 55,600 shares during the period. Beck Mack & Oliver LLC grew its stake in shares of Credit Acceptance by 4.1% during the 2nd quarter. Beck Mack & Oliver LLC now owns 323,301 shares of the credit services provider’s stock valued at $146,814,000 after acquiring an additional 12,857 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Credit Acceptance by 2.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 169,830 shares of the credit services provider’s stock valued at $99,409,000 after acquiring an additional 3,621 shares during the period. Geode Capital Management LLC grew its stake in shares of Credit Acceptance by 14.0% during the 2nd quarter. Geode Capital Management LLC now owns 164,689 shares of the credit services provider’s stock valued at $74,922,000 after acquiring an additional 20,173 shares during the period. Finally, State Street Corp grew its stake in shares of Credit Acceptance by 17.4% during the 2nd quarter. State Street Corp now owns 143,215 shares of the credit services provider’s stock valued at $65,035,000 after acquiring an additional 21,185 shares during the period. Institutional investors and hedge funds own 95.02% of the company’s stock.
Credit Acceptance Company Profile
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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