Credit Acceptance (NASDAQ:CACC) Issues Quarterly Earnings Results, Beats Estimates By $2.47 EPS

Credit Acceptance (NASDAQ:CACC - Get Free Report) released its earnings results on Tuesday. The credit services provider reported $9.28 EPS for the quarter, topping the consensus estimate of $6.81 by $2.47, Yahoo Finance reports. The firm had revenue of $508.00 million during the quarter, compared to analysts' expectations of $497.71 million. Credit Acceptance had a net margin of 15.04% and a return on equity of 30.94%. Credit Acceptance's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the company earned $9.71 EPS.

Credit Acceptance Trading Down 4.1 %

Shares of NASDAQ CACC traded down $21.14 during trading on Wednesday, hitting $492.58. 170,946 shares of the company traded hands, compared to its average volume of 67,602. Credit Acceptance has a 1 year low of $379.77 and a 1 year high of $616.66. The company has a 50-day moving average price of $544.58 and a 200-day moving average price of $509.70. The firm has a market capitalization of $6.06 billion, a P/E ratio of 22.37 and a beta of 1.45. The company has a quick ratio of 15.71, a current ratio of 15.71 and a debt-to-equity ratio of 2.84.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research note on Wednesday, February 28th. One investment 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. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $381.75.

Insider Activity

In other news, insider Douglas W. Busk sold 500 shares of the business's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $579.98, for a total transaction of $289,990.00. Following the completion of the sale, the insider now directly owns 3,112 shares of the company's stock, valued at approximately $1,804,897.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Douglas W. Busk sold 500 shares of the company's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $579.98, for a total transaction of $289,990.00. Following the completion of the sale, the insider now directly owns 3,112 shares of the company's stock, valued at approximately $1,804,897.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas W. Busk sold 2,500 shares of the company's stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $572.58, for a total transaction of $1,431,450.00. Following the sale, the insider now directly owns 3,112 shares of the company's stock, valued at $1,781,868.96. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company's stock.

About Credit Acceptance

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.