Credit Acceptance (CACC) Posts Quarterly Earnings Results, Beats Estimates By $0.85 EPS

Credit Acceptance (NASDAQ:CACC) posted its quarterly earnings data on Monday. The credit services provider reported $7.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $6.90 by $0.85, MarketWatch Earnings reports. Credit Acceptance had a return on equity of 28.97% and a net margin of 46.43%. The firm had revenue of $332.00 million during the quarter, compared to analyst estimates of $327.45 million. During the same period last year, the company posted $5.43 EPS. The business’s quarterly revenue was up 16.9% on a year-over-year basis.

Shares of Credit Acceptance stock opened at $390.70 on Tuesday. Credit Acceptance has a one year low of $277.20 and a one year high of $467.26. The stock has a market capitalization of $7.66 billion, a P/E ratio of 19.11, a PEG ratio of 0.73 and a beta of 0.56. The company has a debt-to-equity ratio of 2.03, a current ratio of 33.69 and a quick ratio of 33.69.

In other Credit Acceptance news, insider Prescott General Partners Llc sold 36,900 shares of Credit Acceptance stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $453.38, for a total transaction of $16,729,722.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kenneth Booth sold 2,000 shares of Credit Acceptance stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $425.00, for a total value of $850,000.00. The disclosure for this sale can be found here. Insiders sold a total of 76,500 shares of company stock valued at $34,100,502 over the last ninety days. 5.40% of the stock is currently owned by corporate insiders.



A number of analysts recently commented on CACC shares. BidaskClub raised Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Oppenheimer set a $400.00 target price on Credit Acceptance and gave the company a “buy” rating in a research report on Tuesday, July 31st. Compass Point raised Credit Acceptance from a “sell” rating to a “neutral” rating in a research report on Wednesday, August 1st. Susquehanna Bancshares boosted their target price on Credit Acceptance from $350.00 to $371.00 and gave the company a “hold” rating in a research report on Wednesday, August 1st. Finally, BMO Capital Markets boosted their target price on Credit Acceptance from $305.00 to $312.00 and gave the company a “market perform” rating in a research report on Thursday, August 2nd. Four research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $336.25.

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 for Credit Acceptance (NASDAQ:CACC)

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