Wall Street analysts predict that Credit Acceptance Corp. (NASDAQ:CACC) will post $6.47 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Credit Acceptance’s earnings. The lowest EPS estimate is $6.33 and the highest is $6.65. Credit Acceptance posted earnings per share of $5.09 in the same quarter last year, which would indicate a positive year-over-year growth rate of 27.1%. The business is scheduled to issue its next earnings results on Monday, July 30th.

On average, analysts expect that Credit Acceptance will report full-year earnings of $26.09 per share for the current year, with EPS estimates ranging from $25.60 to $27.01. For the next financial year, analysts expect that the business will post earnings of $28.52 per share, with EPS estimates ranging from $26.79 to $29.78. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Credit Acceptance.

Credit Acceptance (NASDAQ:CACC) last issued its earnings results on Thursday, May 3rd. The credit services provider reported $6.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $6.19 by ($0.08). Credit Acceptance had a return on equity of 29.44% and a net margin of 43.49%. The company had revenue of $295.60 million for the quarter, compared to the consensus estimate of $296.16 million. During the same quarter last year, the business posted $4.67 EPS. Credit Acceptance’s quarterly revenue was up 12.5% on a year-over-year basis.

CACC has been the topic of several recent analyst reports. ValuEngine upgraded Credit Acceptance from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 1st. Credit Suisse Group reiterated an “underperform” rating on shares of Credit Acceptance in a report on Tuesday, April 10th. Zacks Investment Research cut Credit Acceptance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 13th. Oppenheimer set a $365.00 price objective on Credit Acceptance and gave the company a “buy” rating in a report on Thursday, April 12th. Finally, BidaskClub cut Credit Acceptance from a “buy” rating to a “hold” rating in a report on Saturday, April 28th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $290.88.

Shares of Credit Acceptance traded down $5.23, hitting $363.55, during trading on Friday, MarketBeat Ratings reports. 117,022 shares of the company’s stock traded hands, compared to its average volume of 93,593. Credit Acceptance has a 52 week low of $239.00 and a 52 week high of $377.82. The company has a debt-to-equity ratio of 2.07, a current ratio of 22.16 and a quick ratio of 22.16. The stock has a market capitalization of $7.12 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 0.77 and a beta of 0.55.

In other Credit Acceptance news, CFO Kenneth Booth sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $375.00, for a total value of $750,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Douglas W. Busk sold 730 shares of the business’s stock in a transaction that occurred on Thursday, June 21st. The shares were sold at an average price of $370.00, for a total value of $270,100.00. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH lifted its stake in Credit Acceptance by 2.1% in the 1st quarter. Allianz Asset Management GmbH now owns 13,039 shares of the credit services provider’s stock valued at $4,309,000 after acquiring an additional 266 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Credit Acceptance in the 1st quarter valued at approximately $520,000. Rational Advisors LLC bought a new stake in Credit Acceptance in the 1st quarter valued at approximately $1,312,000. Xact Kapitalforvaltning AB lifted its stake in Credit Acceptance by 29.2% in the 1st quarter. Xact Kapitalforvaltning AB now owns 886 shares of the credit services provider’s stock valued at $293,000 after acquiring an additional 200 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Credit Acceptance by 7.7% in the 1st quarter. Legal & General Group Plc now owns 5,362 shares of the credit services provider’s stock valued at $1,771,000 after acquiring an additional 383 shares in the last quarter. Hedge funds and other institutional investors own 69.75% 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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