Credit Acceptance (NASDAQ:CACC) Releases Earnings Results, Beats Expectations By $3.09 EPS

Credit Acceptance (NASDAQ:CACCGet Free Report) announced its earnings results on Wednesday. The credit services provider reported $10.29 EPS for the quarter, beating analysts’ consensus estimates of $7.20 by $3.09, Briefing.com reports. Credit Acceptance had a net margin of 9.01% and a return on equity of 30.77%. The firm had revenue of $538.20 million for the quarter, compared to analysts’ expectations of $525.03 million. During the same quarter in the previous year, the business posted $10.69 EPS. The company’s quarterly revenue was up 12.6% on a year-over-year basis.

Credit Acceptance Stock Performance

Shares of CACC stock opened at $480.02 on Friday. The company’s fifty day moving average price is $518.92 and its 200-day moving average price is $532.30. The company has a current ratio of 19.15, a quick ratio of 13.79 and a debt-to-equity ratio of 3.77. The stock has a market cap of $5.81 billion, a PE ratio of 24.63 and a beta of 1.44. Credit Acceptance has a 12 month low of $379.77 and a 12 month high of $616.66.

Analysts Set New Price Targets

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

Read Our Latest Stock Analysis on CACC

About Credit Acceptance

(Get Free Report)

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.

See Also

Earnings History for Credit Acceptance (NASDAQ:CACC)

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