Credit Acceptance Corporation (NASDAQ:CACC) financial products and services provider, is expected to report third quarter earnings results, after market close, on Thursday 29th October 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 5.69 per share.
Looking ahead, the full year income are expected at $ 12.11 per share on the revenues of $ 1629.46 million.
Previous Quarter Performance
Credit Acceptance Corporation revealed income for the second quarter of $ 8.63 per share, from the revenue of $ 406.30 million. The quarterly earnings dropped 0.58 percent while revenues up 9.63 percent compared with the same quarter last year.
Wall street analysts are predicting, CACC to report 2Q20 income of $ 4.84 per share from revenue of $ 384.63 million. The bottom line results beat street analysts by $ 3.79 or 78.31 percent, at the same time, top line results outshined analysts by $ 21.67 million or 5.63 percent.
Stock Performance
Shares of Credit Acceptance Corporation traded low $ -11.22 or -3.46 percent on Wednesday, reaching $ 313.36 with volume of 183.30 thousand shares. Credit Acceptance Corporation has traded high as $ 320.23 and has cracked $ 310.16 on the downward trend
According to the previous trading day, closing price of $ 313.36, representing a 63.11 % increase from the 52 week low of $ 199.00 and a 39.78 % decrease over the 52 week high of $ 539.00.
The company has a market capital of $ 5.53 billion and is part of the Financial Services sector and Credit Services industry.
Conference Call
Credit Acceptance Corporation will be hosting a conference call at 5:00 PM eastern time on 29th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.creditacceptance.com
Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers. It is also involved in the business of reinsuring coverage under vehicle service contracts sold to consumers by dealers on vehicles financed by the company.
