Equities research analysts predict that Credit Acceptance (NASDAQ:CACC) will announce earnings per share (EPS) of $6.11 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Credit Acceptance’s earnings. The lowest EPS estimate is $5.59 and the highest is $6.55. Credit Acceptance posted earnings per share of $4.72 during the same quarter last year, which suggests a positive year-over-year growth rate of 29.4%. The firm is expected to issue its next earnings results on Monday, May 7th.

According to Zacks, analysts expect that Credit Acceptance will report full-year earnings of $26.15 per share for the current fiscal year, with EPS estimates ranging from $24.08 to $27.82. For the next year, analysts anticipate that the firm will report earnings of $28.36 per share, with EPS estimates ranging from $26.29 to $31.00. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for Credit Acceptance.

Credit Acceptance (NASDAQ:CACC) last released its earnings results on Tuesday, January 30th. The credit services provider reported $5.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $5.53 by ($0.37). The firm had revenue of $287.30 million during the quarter, compared to analysts’ expectations of $287.37 million. Credit Acceptance had a net margin of 42.36% and a return on equity of 30.18%. Credit Acceptance’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the company posted $4.79 earnings per share.

A number of research firms have recently commented on CACC. BidaskClub downgraded shares of Credit Acceptance from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 31st. Oppenheimer began coverage on shares of Credit Acceptance in a research note on Monday, January 8th. They set a “buy” rating and a $355.00 price objective for the company. Zacks Investment Research downgraded shares of Credit Acceptance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 13th. BMO Capital Markets dropped their price objective on shares of Credit Acceptance from $312.00 to $295.00 and set a “market perform” rating for the company in a research note on Thursday, February 1st. Finally, Credit Suisse Group reaffirmed a “sell” rating and set a $270.00 price objective on shares of Credit Acceptance in a research note on Monday, January 8th. Five analysts have rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $280.78.

NASDAQ:CACC opened at $329.20 on Wednesday. The stock has a market capitalization of $6,373.67, a price-to-earnings ratio of 16.12, a PEG ratio of 0.71 and a beta of 0.53. The company has a debt-to-equity ratio of 1.99, a quick ratio of 24.00 and a current ratio of 24.00. Credit Acceptance has a 12-month low of $201.74 and a 12-month high of $377.82.

In related news, insider Douglas W. Busk sold 1,000 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $319.86, for a total transaction of $319,860.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John S. Soave sold 2,500 shares of the stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $337.01, for a total transaction of $842,525.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,500 shares of company stock valued at $1,831,385. Corporate insiders own 5.80% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its position in Credit Acceptance by 6.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 619 shares of the credit services provider’s stock worth $159,000 after purchasing an additional 40 shares in the last quarter. M&T Bank Corp increased its position in Credit Acceptance by 19.6% during the 4th quarter. M&T Bank Corp now owns 1,853 shares of the credit services provider’s stock worth $600,000 after purchasing an additional 304 shares in the last quarter. Advisory Services Network LLC increased its position in Credit Acceptance by 87.9% during the 4th quarter. Advisory Services Network LLC now owns 932 shares of the credit services provider’s stock worth $301,000 after purchasing an additional 436 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in Credit Acceptance by 437.0% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 537 shares of the credit services provider’s stock worth $150,000 after purchasing an additional 437 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Credit Acceptance during the 4th quarter worth approximately $198,000. 70.30% of the stock is owned by hedge funds and other institutional investors.

About Credit Acceptance

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 and Estimates for Credit Acceptance (NASDAQ:CACC)

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