CACC Stock Recent News

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.

Higher expenses and provisions hurt Credit Acceptance's (CACC) Q3 earnings, while a rise in the top line offers some support.

Credit Acceptance Corporation (NASDAQ:CACC ) Q3 2023 Earnings Conference Call October 30, 2023 5:00 PM ET Company Participants Douglas Busk - Chief Treasury Officer Conference Call Participants John Rowan - Janney Montgomery Scott John Hecht - Jefferies Robert Wildhack - Autonomous Research Operator Good day, everyone and welcome to the Credit Acceptance Corporation Third Quarter 2023 Earnings Call. Today's call is being recorded.

The headline numbers for Credit Acceptance (CACC) give insight into how the company performed in the quarter ended September 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Credit Acceptance (CACC) came out with quarterly earnings of $5.43 per share, missing the Zacks Consensus Estimate of $6.59 per share. This compares to earnings of $6.49 per share a year ago.