CACC Stock Recent News
CACC LATEST HEADLINES
Credit Acceptance (CACC) reported earnings 30 days ago. What's next for the stock?
Credit Acceptance (CACC) records a rise in revenues and operating expenses in the fourth quarter of 2023.
Credit Acceptance Corporation (CACC) Q4 2023 Earnings Call Transcript
While the top- and bottom-line numbers for Credit Acceptance (CACC) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Credit Acceptance (CACC) came out with quarterly earnings of $7.29 per share, beating the Zacks Consensus Estimate of $4.52 per share. This compares to earnings of $9.58 per share a year ago.
Southfield, Michigan, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we expect to issue a news release with our fourth quarter 2023 earnings on Wednesday, January 31, 2024, after the market closes. A webcast is scheduled for Wednesday, January 31, 2024, at 5:00 p.m. Eastern Time to discuss fourth quarter 2023 earnings.
Credit Acceptance (CACC) reported earnings 30 days ago. What's next for the stock?
Economic indicators provide a mixed perspective: consumer confidence is declining, and interest rates are high. On the flip side, we observe growth catalysts: decreased used car prices and the expected decline in interest rates next year. However, when considering the decision to invest in Credit Acceptance or its industry peers, I lean towards choosing the latter.
Credit Acceptance stock has underperformed the S&P 500 by a wide margin in the last two years due to the surge of interest rates to a 16-year high. High interest rates have impacted some of the customers of CACC, but the stock is now cheaply valued, at only 10.4 times its earnings. The company's proven ability to forecast collection rates and its consistent performance make it an attractive investment option.
The stock market has been on a downswing throughout the fall. High interest rates, inflation, and geopolitical tensions are among the factors weighing on investor sentiment.