Credit Acceptance (CACC) Scheduled to Post Quarterly Earnings on Wednesday

Credit Acceptance (NASDAQ:CACC - Get Free Report) is scheduled to post its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect Credit Acceptance to post earnings of $7.61 per share for the quarter.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $10.29 EPS for the quarter, beating the consensus estimate of $7.20 by $3.09. Credit Acceptance had a net margin of 9.01% and a return on equity of 30.77%. The business had revenue of $538.20 million for the quarter, compared to the consensus estimate of $525.03 million. During the same period in the prior year, the company posted $10.69 earnings per share. Credit Acceptance's revenue was up 12.6% compared to the same quarter last year. 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

Credit Acceptance stock traded up $5.47 during midday trading on Thursday, hitting $480.45. The company's stock had a trading volume of 45,038 shares, compared to its average volume of 56,424. The company has a 50-day moving average price of $455.40 and a two-hundred day moving average price of $493.40. Credit Acceptance has a 1-year low of $379.77 and a 1-year high of $616.66. The company has a market cap of $5.82 billion, a price-to-earnings ratio of 24.65 and a beta of 1.42. The company has a debt-to-equity ratio of 3.77, a current ratio of 19.15 and a quick ratio of 19.15.

Insider Activity

In other news, insider Thomas W. Smith sold 1,200 shares of the business's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $451.01, for a total transaction of $541,212.00. Following the completion of the transaction, the insider now owns 74,450 shares of the company's stock, valued at approximately $33,577,694.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.30% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, TD Cowen reduced their price target on 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 research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $395.67.

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.