(ACF) - AmeriCredit Corp. - topped analysts' earnings expectations in 13 out of the past 15 quarters

AmeriCredit Corp. (ACF) beat the Street's earnings estimate in 13 out of the past 15 quarters. The company recently increased its fiscal 2007 earnings per share guidance. Analysts have been raising their profit forecasts for this quarter as well as for the full year. The company's repurchase program was boosted by $300 million in September. This Zacks #1 Rank stock has a price-to-book ratio of 1.9, compared to 5.4 for the market. Full Analysis AmeriCredit Corp. is a leading independent automobile finance company that provides financing solutions indirectly through auto dealers and directly to consumers in the United States and Canada. ACF topped analysts' earnings expectations in 13 out of the past 15 quarters. On Oct 24, the company beat the Street's estimate by a penny when it reported first-quarter fiscal 2007 earnings per share of 54 cents. This marked a 35.0% year-over-year improvement when compared to earnings of 40 cents per share in the first quarter of fiscal 2006. Revenues jumped 24.6% to $523.6 million from $420.3 million. President and CEO Dan Berce stated, “Our September quarter was a solid beginning to fiscal year 2007, with new loan volume and credit performance improved from a year ago.” The company boosted its fiscal 2007 earnings per share guidance to between $2.45 and $2.65 on revenues between $3.25 and $3.55 billion. ACF's previous projection called for profits between $2.15 and $2.35 per share. The company cited the rollout of a broader credit spectrum of product offerings through its Bay View platform as fueling the revised outlook. During the quarter, ACF bought back $324 million of its common stock. The repurchase program, which was authorized in April 2004, has enabled the company to buy back $1.25 billion worth of its common stock. Furthermore, the Board of Directors increased the program by $300 million in September. Over the past 60 days, six analysts increased their earnings estimates for this quarter. The consensus currently stands at 60 cents per share. Upward revisions were also submitted by six analysts for the full year with the consensus estimate climbing 7.1% to $2.58. Earnings per share are projected to grow 13% over the next 3-5 years. ACF is currently trading at a valuation of 11.5x trailing 12-month earnings and at 10.2x current fiscal-year estimated earnings. The market, as represented by the S&P 500, is trading at a valuation of 17.5x trailing 12-month earnings and at 16.4x its current fiscal-year estimated earnings. The company has a price-to-book ratio of 1.9, compared to 5.4 for the market. Its PEG ratio currently sits at 0.81. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions. | Blog Home| VitalStocks Home