Santander Consumer USA (SC) Tops Q3 EPS by 6c

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Go back to Santander Consumer USA (SC) Tops Q3 EPS by 6c

Change in Provision Methodology Contributes to EPS Beat For Santander Consumer USA (SC); Compass Point Remains Neutral

November 2, 2015 9:27 AM EST

Compass Point reiterated a Neutral rating on Santander Consumer USA Holdings Inc. (NYSE: SC), and cut the price target to $20.00 (from $24.00), following the company's 3Q earnings results. EPS of $0.62 beat the consensus estimate of $0.51 due to a change in provision methodology that removes the seasonality of credit expenses. The 3Q loss provision of $744M was relatively flat QoQ.

Analyst Lucy Webster... More