Equities research analysts predict that Credit Acceptance Corp. (NASDAQ:CACC) will report earnings of $6.86 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Credit Acceptance’s earnings, with estimates ranging from $6.39 to $7.49. Credit Acceptance reported earnings of $3.96 per share during the same quarter last year, which would indicate a positive year over year growth rate of 73.2%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, January 29th.

According to Zacks, analysts expect that Credit Acceptance will report full year earnings of $28.49 per share for the current fiscal year, with EPS estimates ranging from $28.07 to $29.17. For the next financial year, analysts forecast that the company will report earnings of $30.45 per share, with EPS estimates ranging from $28.46 to $32.18. Zacks’ earnings per share calculations are an average based on a survey of research analysts that cover Credit Acceptance.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Monday, October 29th. The credit services provider reported $7.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $6.90 by $0.85. Credit Acceptance had a return on equity of 28.83% and a net margin of 48.70%. The business had revenue of $332.00 million for the quarter, compared to analysts’ expectations of $327.45 million. During the same period in the previous year, the business posted $5.43 EPS. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year.

A number of equities research analysts recently issued reports on the company. Credit Suisse Group boosted their price objective on Credit Acceptance from $310.00 to $335.00 and gave the company an “underperform” rating in a research note on Tuesday, October 30th. BidaskClub upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Saturday, November 17th. Zacks Investment Research upgraded Credit Acceptance from a “hold” rating to a “buy” rating and set a $473.00 price objective on the stock in a research note on Monday, November 19th. BMO Capital Markets boosted their price objective on Credit Acceptance from $312.00 to $333.00 and gave the company a “market perform” rating in a research note on Thursday, November 1st. Finally, Oppenheimer set a $420.00 price objective on Credit Acceptance and gave the company a “buy” rating in a research note on Tuesday, October 30th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $362.71.

Credit Acceptance stock traded down $6.29 during midday trading on Friday, reaching $380.10. The stock had a trading volume of 147,946 shares, compared to its average volume of 65,301. Credit Acceptance has a 12 month low of $297.63 and a 12 month high of $467.26. The stock has a market capitalization of $7.46 billion, a P/E ratio of 18.60, a P/E/G ratio of 0.81 and a beta of 0.52. The company has a debt-to-equity ratio of 1.97, a quick ratio of 36.75 and a current ratio of 36.75.

In other news, insider Scott J. Vassalluzzo sold 5,000 shares of the company’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $413.10, for a total transaction of $2,065,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Prescott General Partners Llc sold 2,039 shares of the company’s stock in a transaction dated Monday, November 12th. The shares were sold at an average price of $419.97, for a total value of $856,318.83. The disclosure for this sale can be found here. Insiders sold a total of 36,818 shares of company stock worth $15,431,423 over the last 90 days. 5.40% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc boosted its stake in Credit Acceptance by 3.1% in the third quarter. Legal & General Group Plc now owns 5,301 shares of the credit services provider’s stock worth $2,322,000 after buying an additional 158 shares in the last quarter. AQR Capital Management LLC boosted its stake in Credit Acceptance by 31.3% in the third quarter. AQR Capital Management LLC now owns 109,837 shares of the credit services provider’s stock worth $48,116,000 after buying an additional 26,181 shares in the last quarter. HRT Financial LLC purchased a new stake in Credit Acceptance in the third quarter worth approximately $421,000. The Manufacturers Life Insurance Company boosted its stake in Credit Acceptance by 7,377.2% in the third quarter. The Manufacturers Life Insurance Company now owns 40,975 shares of the credit services provider’s stock worth $17,950,000 after buying an additional 40,427 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in Credit Acceptance in the third quarter worth approximately $1,669,000. Hedge funds and other institutional investors own 62.07% of the company’s stock.

Credit Acceptance Company Profile

Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.

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Earnings History and Estimates for Credit Acceptance (NASDAQ:CACC)

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