Why the Credit Corp Group Share Price Rose Today

Woman handing over credit card at cash register

What Happened to Credit Corp’s Share Price?

Shares in Credit Corp Group [ASX:CCP] touched as high as $11.80 today. The move up put the stock closer to its all-time high of $12.99, which it reached in 2007. The stock is also moving up alongside the bullish trend of the general market at the moment.

Why Did This Happen to CCP Shares?

The stock market is pricing in strong earnings for the company. Yesterday the directors of the company reported results for the first half of the financial year. That included rising profit over the year before and a 10% increase in the interim dividend.

What Now for Credit Corp Group?

According to the company, ‘The transition of the consumer lending business to profitability in 2015 will underpin solid full-year earnings growth. The company confirms its previously stated guidance for the 2015 financial year.’

A rising stock price confirms this view for now.

Callum Newman
Editor, The Daily Reckoning

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Callum Newman

Callum Newman

Callum Newman is the editor of The Daily Reckoning and Associate Editor of Cycles, Trends and Forecasts. He also hosts The Daily Reckoning Podcast. Originally graduating with a degree in Communications, Callum decided financial markets were far more fascinating than anything Marshall McLuhan (the ‘medium is the message’) ever came up with. Today Callum spends his day reading and researching why currencies, commodities and stocks move like they do. So far he’s discovered it’s often in a way you least expect. To have Callum’s thoughts and insights on the current state of the currency, commodities and stock markets delivered straight to your inbox, take out a free subscription to The Daily Reckoning here.

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