Consumer Portfolio Stock Drops

Consumer Portfolio Services Inc. stock fell 11.5% Thursday, even though the company’s posted earnings that slightly exceeded fourth quarter earnings expectations.

Consumer Portfolio shares were down $1.25 to $10.63 on the Nasdaq market.

One analyst attributed the stock’s retreat to decisions by two investment houses--Piper Jaffray Inc. and Salomon Smith Barney--to retain neutral ratings on the company, which buys, sells and services loans for new and used cars.

The company posted fourth quarter earnings of 32 cents a share, up from 26 cents a share a year ago and a penny above analysts’ estimates.