Credit Acceptance (NASDAQ:CACC) Issues Earnings Results

Credit Acceptance (NASDAQ:CACC) posted its earnings results on Wednesday. The credit services provider reported $10.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.20 by $3.09, Briefing.com reports. The company had revenue of $538.20 million during the quarter, compared to analysts’ expectations of $525.03 million. Credit Acceptance had a net margin of 9.01% and a return on equity of 30.77%. Credit Acceptance’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the company posted $10.69 EPS.

Credit Acceptance Stock Performance

NASDAQ CACC opened at $480.02 on Friday. The firm has a 50-day moving average of $518.92 and a 200-day moving average of $532.30. The stock has a market cap of $5.81 billion, a PE ratio of 24.63 and a beta of 1.44. The company has a debt-to-equity ratio of 3.77, a quick ratio of 13.79 and a current ratio of 19.15. Credit Acceptance has a 52-week low of $379.77 and a 52-week high of $616.66.

Wall Street Analysts Forecast Growth

Separately, TD Cowen cut their target price on shares of Credit Acceptance from $440.00 to $400.00 and set a “sell” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $395.67.

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.