OneMain Holdings, Inc. (NYSE:OMF) Expected to Post Earnings of $2.05 Per Share

Analysts expect OneMain Holdings, Inc. (NYSE:OMF) to post earnings per share (EPS) of $2.05 for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for OneMain’s earnings. The lowest EPS estimate is $1.76 and the highest is $2.43. OneMain posted earnings of $2.19 per share during the same quarter last year, which suggests a negative year over year growth rate of 6.4%. The business is expected to issue its next earnings report on Monday, October 25th.

On average, analysts expect that OneMain will report full year earnings of $9.64 per share for the current financial year, with EPS estimates ranging from $8.96 to $10.69. For the next fiscal year, analysts forecast that the firm will post earnings of $8.37 per share, with EPS estimates ranging from $8.01 to $8.63. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow OneMain.

OneMain (NYSE:OMF) last issued its earnings results on Tuesday, July 20th. The financial services provider reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.47. OneMain had a net margin of 23.89% and a return on equity of 37.69%. During the same quarter last year, the company posted $0.80 EPS.

Several equities analysts recently issued reports on OMF shares. Credit Suisse Group lifted their price target on shares of OneMain from $69.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, April 28th. Zacks Investment Research raised shares of OneMain from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Tuesday, May 4th. Piper Sandler lifted their price target on shares of OneMain from $73.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, July 2nd. BMO Capital Markets reissued a “market perform” rating and set a $60.00 price target on shares of OneMain in a report on Monday, April 26th. Finally, JPMorgan Chase & Co. dropped their target price on shares of OneMain from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Thursday, April 15th. They noted that the move was a valuation call. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $57.50.

OMF stock traded down $1.09 during trading on Friday, hitting $59.92. 10,060 shares of the stock traded hands, compared to its average volume of 728,295. OneMain has a one year low of $24.45 and a one year high of $61.90. The stock has a market cap of $8.06 billion, a PE ratio of 7.40 and a beta of 2.07. The stock has a 50 day moving average of $58.48.

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 13th. Investors of record on Thursday, May 6th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.67%. This is an increase from OneMain’s previous quarterly dividend of $0.45. The ex-dividend date was Wednesday, May 5th. OneMain’s payout ratio is 46.13%.

In related news, insider George G. Hicks sold 1,901,638 shares of the business’s stock in a transaction that occurred on Tuesday, May 4th. The shares were sold at an average price of $51.76, for a total transaction of $98,428,782.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Apollo Management Holdings Gp, sold 9,200,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 4th. The stock was sold at an average price of $51.76, for a total transaction of $476,192,000.00. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Alpha DNA Investment Management LLC acquired a new position in OneMain during the fourth quarter valued at approximately $31,000. Wealthcare Advisory Partners LLC acquired a new position in OneMain during the first quarter valued at approximately $38,000. Harvest Fund Management Co. Ltd grew its holdings in OneMain by 73.4% during the first quarter. Harvest Fund Management Co. Ltd now owns 886 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 375 shares during the period. Eaton Vance Management acquired a new position in OneMain during the first quarter valued at approximately $54,000. Finally, Captrust Financial Advisors grew its holdings in OneMain by 231.3% during the fourth quarter. Captrust Financial Advisors now owns 1,176 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 821 shares during the period. 84.42% of the stock is owned by institutional investors and hedge funds.

About OneMain

OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses. The company originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or are unsecured. The company also offers credit insurance products comprising life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans.

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Earnings History and Estimates for OneMain (NYSE:OMF)

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