Equities

Equities Analysts Set Expectations for OneMain Holdings, Inc.’s FY2022 Earnings (NYSE:OMF)

OneMain Holdings, Inc. (NYSE:OMFGet Rating) – Analysts at Seaport Res Ptn lowered their FY2022 EPS estimates for OneMain in a report released on Wednesday, October 5th. Seaport Res Ptn analyst W. Ryan now expects that the financial services provider will post earnings of $7.25 per share for the year, down from their previous estimate of $7.60. The consensus estimate for OneMain’s current full-year earnings is $7.34 per share. Seaport Res Ptn also issued estimates for OneMain’s Q4 2022 earnings at $1.62 EPS and FY2023 earnings at $7.55 EPS.

OneMain (NYSE:OMFGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.03). The business had revenue of $887.00 million during the quarter, compared to analyst estimates of $1.05 billion. OneMain had a return on equity of 37.61% and a net margin of 22.43%. During the same quarter last year, the firm posted $2.66 EPS.

A number of other equities analysts have also commented on the stock. BMO Capital Markets decreased their price objective on shares of OneMain from $58.00 to $50.00 in a research note on Monday, August 1st. Compass Point decreased their price objective on shares of OneMain to $63.00 in a research note on Monday, July 4th. JMP Securities decreased their price objective on shares of OneMain from $68.00 to $58.00 and set a “market outperform” rating for the company in a research note on Friday, July 15th. Royal Bank of Canada decreased their price objective on shares of OneMain from $62.00 to $51.00 and set an “outperform” rating for the company in a research note on Tuesday, August 2nd. Finally, Wells Fargo & Company lowered shares of OneMain from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $65.00 to $40.00 in a research note on Wednesday, July 13th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.91.

OneMain Stock Performance

OneMain stock opened at $32.83 on Thursday. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 3.99 and a beta of 1.61. OneMain has a 1 year low of $28.77 and a 1 year high of $60.38. The firm’s 50 day moving average price is $35.48 and its two-hundred day moving average price is $40.23.

Hedge Funds Weigh In On OneMain

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OMF. Capital International Investors boosted its position in OneMain by 77.1% in the first quarter. Capital International Investors now owns 9,842,786 shares of the financial services provider’s stock valued at $466,646,000 after buying an additional 4,284,232 shares in the last quarter. State of Michigan Retirement System acquired a new position in shares of OneMain during the second quarter worth approximately $34,763,000. Millennium Management LLC lifted its position in shares of OneMain by 148.9% during the fourth quarter. Millennium Management LLC now owns 957,945 shares of the financial services provider’s stock worth $47,936,000 after purchasing an additional 573,125 shares in the last quarter. Rubric Capital Management LP lifted its position in shares of OneMain by 112.3% during the fourth quarter. Rubric Capital Management LP now owns 796,020 shares of the financial services provider’s stock worth $39,833,000 after purchasing an additional 421,020 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of OneMain by 29.3% during the second quarter. Northern Trust Corp now owns 1,246,440 shares of the financial services provider’s stock worth $46,592,000 after purchasing an additional 282,640 shares in the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at OneMain

In other OneMain news, CEO Douglas H. Shulman bought 1,150 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were acquired at an average cost of $37.08 per share, for a total transaction of $42,642.00. Following the transaction, the chief executive officer now owns 337,936 shares in the company, valued at $12,530,666.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.28% of the company’s stock.

OneMain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Monday, August 8th were issued a dividend of $0.95 per share. The ex-dividend date was Friday, August 5th. This represents a $3.80 annualized dividend and a dividend yield of 11.57%. OneMain’s payout ratio is 46.17%.

About OneMain

(Get Rating)

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 unsecured. The company also offers credit cards and 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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