Credit Acceptance Corp. Expected to Earn Q2 2019 Earnings of $8.52 Per Share (CACC)

Credit Acceptance Corp. (NASDAQ:CACC) – Stock analysts at Jefferies Financial Group lowered their Q2 2019 EPS estimates for shares of Credit Acceptance in a report issued on Monday, April 29th. Jefferies Financial Group analyst J. Hecht now forecasts that the credit services provider will post earnings per share of $8.52 for the quarter, down from their prior estimate of $8.55. Jefferies Financial Group also issued estimates for Credit Acceptance’s Q3 2019 earnings at $8.81 EPS, Q4 2019 earnings at $8.95 EPS and FY2019 earnings at $34.36 EPS.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Credit Acceptance from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. BidaskClub upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Saturday, March 30th. Buckingham Research started coverage on shares of Credit Acceptance in a report on Thursday, March 28th. They set a “neutral” rating and a $440.00 price objective on the stock. Stephens upped their price objective on shares of Credit Acceptance from $381.00 to $495.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Oppenheimer restated a “market perform” rating on shares of Credit Acceptance in a report on Thursday, January 31st. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $407.67.

Credit Acceptance stock opened at $497.50 on Thursday. The company has a debt-to-equity ratio of 2.07, a quick ratio of 17.07 and a current ratio of 31.27. Credit Acceptance has a 12-month low of $299.00 and a 12-month high of $509.99. The firm has a market cap of $9.28 billion, a P/E ratio of 17.61, a P/E/G ratio of 0.92 and a beta of 0.70.

Credit Acceptance (NASDAQ:CACC) last released its earnings results on Monday, April 29th. The credit services provider reported $8.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $7.93 by $0.15. Credit Acceptance had a net margin of 46.00% and a return on equity of 30.17%. The company had revenue of $342.80 million for the quarter, compared to the consensus estimate of $350.35 million. During the same quarter in the previous year, the company earned $6.11 EPS. Credit Acceptance’s quarterly revenue was up 16.0% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System grew its stake in shares of Credit Acceptance by 15.3% in the 1st quarter. California Public Employees Retirement System now owns 20,204 shares of the credit services provider’s stock worth $9,131,000 after acquiring an additional 2,677 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Credit Acceptance by 2.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 12,541 shares of the credit services provider’s stock worth $5,668,000 after acquiring an additional 260 shares in the last quarter. LVW Advisors LLC bought a new stake in shares of Credit Acceptance in the 1st quarter worth $610,000. JLB & Associates Inc. grew its stake in shares of Credit Acceptance by 47.9% in the 1st quarter. JLB & Associates Inc. now owns 4,791 shares of the credit services provider’s stock worth $2,165,000 after acquiring an additional 1,552 shares in the last quarter. Finally, UMB Bank N A MO bought a new stake in shares of Credit Acceptance in the 1st quarter worth $888,000. Hedge funds and other institutional investors own 63.90% of the company’s stock.

In other Credit Acceptance news, CFO Kenneth Booth sold 1,000 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $500.00, for a total transaction of $500,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.40% 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.

Further Reading: Diversification

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

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