Brokerages Anticipate Credit Acceptance Co. (NASDAQ:CACC) to post quarterly sales of $443.64 million
Wall Street brokers expect Credit Acceptance Co. (NASDAQ:CACC – Get a rating) to show sales of $443.64 million for the current quarter, Zacks Investment Research reports. Two analysts released earnings estimates for Credit Acceptance, with the highest sales estimate at $446.27 million and the lowest estimate at $441.00 million. Credit Acceptance reported sales of $451.00 million in the same quarter last year, indicating a negative growth rate of 1.6% year over year. The company is expected to release its next quarterly earnings report on Thursday, May 5.
According to Zacks, analysts expect Credit Acceptance to report annual sales of $1.73 billion for the current year, with estimates ranging from $1.71 billion to $1.75 billion. For next year, analysts expect the company to post sales of $1.69 billion, with estimates ranging from $1.67 billion to $1.72 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that track credit acceptance.
Accepted Credit (NASDAQ: CACC – Get a rating) last released its quarterly earnings data on Monday, January 31. The credit service provider reported EPS of $14.60 for the quarter, beating Thomson Reuters consensus estimate of $12.69 by $1.91. Credit Acceptance has a return on equity of 38.72% and a net margin of 51.63%. In the same quarter last year, the company posted earnings per share of $10.75.
A number of analysts have published reports on CACC shares. BMO Capital Markets raised its target price on credit acceptance from $411.00 to $428.00 and gave the company a “market performance” rating in a Tuesday, Feb. 1 research report. Credit Suisse Group raised its price target on accepting credit from $380.00 to $420.00 and gave the stock an “underperforming” rating in a Tuesday, November 2 research report . JMP Securities raised its price target on credit acceptance from $295.00 to $355.00 and gave the stock an “underperforming the market” rating in a Tuesday, November 2 research report . Stephens raised its price target on Accepted Credit from $470.00 to $519.00 and gave the stock an “equal weight” rating in a Tuesday, Nov. 2 research report. Ultimately, Zacks Investment Research downgraded the credit acceptance from a “hold” rating to a “strong sell” rating and set a target price of $444.00 for the stock. in a report on Thursday, February 3. Three equity research analysts rated the stock with a sell rating and two gave the company a hold rating. According to data from MarketBeat.com, Credit Acceptance has an average rating of “Sell” and a consensus target price of $433.20.
CCCC opened at $550.12 on Tuesday. Credit acceptance has a one-year minimum of $346.49 and a one-year maximum of $703.27. The stock has a market capitalization of $7.76 billion, a PE ratio of 9.26 and a beta of 1.26. The company’s 50-day moving average price is $581.01 and its 200-day moving average price is $608.50. The company has a debt ratio of 2.53, a quick ratio of 39.04 and a current ratio of 39.04.
Separately, insider Thomas W. Smith sold 7,000 shares of the company in a trade dated Thursday, Dec. 2. The shares were sold at an average price of $648.50, for a total transaction of $4,539,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, available at this link. Also, director Thomas N. Tryforos sold 2,354 shares of the company in a trade dated Thursday, December 9. The shares were sold at an average price of $660.32, for a total transaction of $1,554,393.28. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 19,354 shares of the company worth $12,702,993. 4.50% of the shares are held by insiders of the company.
Institutional investors have recently increased or reduced their stake in the company. Hanseatic Management Services Inc. acquired a new stake in Credit Acceptance in the fourth quarter worth approximately $27,000. JNBA Financial Advisors bought a new stake in shares of Credit Acceptance during Q3 for $43,000. Elmwood Wealth Management Inc. bought a new stake in shares of Credit Acceptance during the 4th quarter for a value of $53,000. Cullen Frost Bankers Inc. bought a new stake in shares of Credit Acceptance during Q4 for a value of $69,000. Finally, James Investment Research Inc. bought a new stake in shares of Credit Acceptance during the 4th quarter at a value of $85,000. Hedge funds and other institutional investors own 66.55% of the company’s shares.
Credit Acceptance Company Profile (Get a rating)
Credit Acceptance Corp. offers dealer financing programs that allow automotive dealers to sell vehicles to consumers regardless of their credit history. Its financing programs are offered through a nationwide network of automotive dealerships that profit from vehicle sales to consumers.
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