Credit Acceptance (NASDAQ:CACC) Posts Earnings Results, Beats Expectations By $0.91 EPS

Credit Acceptance (NASDAQ:CACC) issued its earnings results on Wednesday. The credit services provider reported $8.79 EPS for the quarter, topping analysts’ consensus estimates of $7.88 by $0.91, Briefing.com reports. The company had revenue of $550.30 million for the quarter, compared to analysts’ expectations of $548.13 million. Credit Acceptance had a net margin of 9.01% and a return on equity of 30.77%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the company earned $10.70 EPS.

Credit Acceptance Stock Down 5.1 %

Shares of NASDAQ:CACC traded down $23.78 during trading on Thursday, hitting $438.15. The stock had a trading volume of 48,950 shares, compared to its average volume of 56,547. The company has a quick ratio of 19.15, a current ratio of 19.15 and a debt-to-equity ratio of 3.77. Credit Acceptance has a 12 month low of $379.77 and a 12 month high of $616.66. The company has a market capitalization of $5.31 billion, a PE ratio of 29.57 and a beta of 1.42. The firm’s fifty day moving average is $455.23 and its 200 day moving average is $490.32.

Wall Street Analysts Forecast Growth

Separately, TD Cowen decreased their price target on Credit Acceptance from $440.00 to $400.00 and set a “sell” rating on the stock in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $395.67.

Insider Buying and Selling

In other Credit Acceptance news, insider Thomas W. Smith sold 1,200 shares of the 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 sale, the insider now directly owns 74,450 shares in the company, valued at approximately $33,577,694.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.30% of the stock is owned by insiders.

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.