Credit Acceptance (NASDAQ:CACC) Releases Earnings Results, Beats Estimates By $0.15 EPS

Credit Acceptance (NASDAQ:CACC) announced its quarterly earnings results on Thursday. The credit services provider reported $13.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.86 by $0.15, FiscalAI reports. Credit Acceptance had a net margin of 21.54% and a return on equity of 31.67%. The firm had revenue of $420.30 million for the quarter, compared to the consensus estimate of $596.40 million.

Credit Acceptance Price Performance

Shares of CACC stock traded up $30.88 during midday trading on Thursday, reaching $575.78. 143,015 shares of the company traded hands, compared to its average volume of 160,231. Credit Acceptance has a 1-year low of $401.90 and a 1-year high of $668.86. The firm has a market cap of $6.02 billion, a PE ratio of 12.66 and a beta of 1.40. The company has a debt-to-equity ratio of 3.84, a current ratio of 14.89 and a quick ratio of 14.89. The firm’s 50 day simple moving average is $566.87 and its two-hundred day simple moving average is $536.93.

Analyst Upgrades and Downgrades

CACC has been the topic of several research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Credit Acceptance in a research report on Wednesday, October 14th. TD Cowen lowered their price target on Credit Acceptance from $600.00 to $590.00 and set a “hold” rating on the stock in a report on Tuesday, October 6th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $565.00.

Credit Acceptance Company Profile

Credit Acceptance Corporation (NASDAQ:CACC) is a specialized automobile finance company that provides financing programs for consumers who may have difficulty obtaining credit through traditional lenders. The company primarily operates through an indirect lending model, working with automobile dealers who offer financing to customers purchasing new or used vehicles.

Credit Acceptance purchases or services automotive loans originated through its dealer-partner network. Its programs are designed to help dealers sell vehicles to a broader range of consumers, while the company manages loan underwriting, servicing, collections, and related risk-management activities.