Credit Acceptance (CACC) to Release Earnings on Wednesday

Credit Acceptance (NASDAQ:CACC) is anticipated to announce its earnings results before the market opens on Wednesday, January 29th. Analysts expect the company to announce earnings of $7.70 per share and revenue of $562,400.00 billion for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share for the quarter, topping the consensus estimate of $7.88 by $0.91. The firm had revenue of $550.30 million during the quarter, compared to the consensus estimate of $548.13 million. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period last year, the company earned $10.70 earnings per share. On average, analysts expect Credit Acceptance to post $37 EPS for the current fiscal year and $55 EPS for the next fiscal year.

Credit Acceptance Stock Performance

Shares of CACC opened at $524.11 on Tuesday. Credit Acceptance has a 1 year low of $409.22 and a 1 year high of $616.66. The stock has a market capitalization of $6.35 billion, a P/E ratio of 35.20 and a beta of 1.46. The company has a debt-to-equity ratio of 3.79, a quick ratio of 23.63 and a current ratio of 23.63. The company’s fifty day moving average is $478.07 and its two-hundred day moving average is $474.90.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CACC shares. Stephens initiated coverage on shares of Credit Acceptance in a research report on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 price objective for the company. StockNews.com cut Credit Acceptance from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Finally, TD Cowen dropped their price objective on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a report on Friday, November 1st.

Insider Activity at Credit Acceptance

In related news, COO Jonathan Lum sold 552 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total value of $270,424.80. Following the completion of the transaction, the chief operating officer now directly owns 31,493 shares of the company’s stock, valued at $15,428,420.70. This trade represents a 1.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.30% of the company’s stock.

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.