Credit Acceptance Q3 Earnings Preview: Key Items Analysts Will Be Watching
Portfolio Pulse from Surbhi Jain
Credit Acceptance Corp (NASDAQ:CACC) is set to report its Q3 earnings on Oct 30. Analysts are not very positive about the company's outlook due to deteriorating underwriting quality of new loans and the impact of a high interest rate environment. Wall Street expects CACC to report $5.71 in EPS and $487.25 million in revenue for the quarter. The stock has seen more downgrades than upgrades since 2022 and is currently rated Equal Weight. The consensus price target stands at $388.75 a share.
October 30, 2023 | 3:54 pm
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Credit Acceptance Corp's Q3 earnings report is expected to show an EPS of $5.71 and revenue of $487.25 million. However, analysts are concerned about the company's deteriorating loan quality and the impact of high interest rates.
The company's deteriorating loan quality and the impact of high interest rates are likely to negatively impact its stock price. Despite the expected EPS and revenue beat, the stock has seen more downgrades than upgrades since 2022, indicating a negative sentiment among analysts.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100