Zacks: Brokerages Anticipate OneMain Holdings, Inc. (NYSE:OMF) Will Post Quarterly Sales of $873.09 Million

Equities research analysts predict that OneMain Holdings, Inc. (NYSE:OMF) will report sales of $873.09 million for the current quarter, Zacks reports. Five analysts have provided estimates for OneMain’s earnings, with the highest sales estimate coming in at $881.71 million and the lowest estimate coming in at $849.00 million. OneMain reported sales of $935.00 million during the same quarter last year, which indicates a negative year-over-year growth rate of 6.6%. The firm is expected to announce its next quarterly earnings report on Monday, October 25th.

On average, analysts expect that OneMain will report full year sales of $3.44 billion for the current fiscal year, with estimates ranging from $3.38 billion to $3.46 billion. For the next year, analysts expect that the company will report sales of $3.72 billion, with estimates ranging from $3.49 billion to $3.82 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow OneMain.

OneMain (NYSE:OMF) last announced its quarterly earnings data on Tuesday, July 20th. The financial services provider reported $2.66 EPS for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.47. OneMain had a net margin of 29.54% and a return on equity of 44.15%. The firm had revenue of $708.00 million for the quarter, compared to the consensus estimate of $965.28 million. During the same period in the previous year, the firm posted $0.80 earnings per share.

A number of research analysts recently commented on the stock. JMP Securities boosted their price objective on shares of OneMain from $65.00 to $72.00 and gave the company a “market outperform” rating in a research report on Friday, July 23rd. Citigroup boosted their price objective on shares of OneMain from $64.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. Barclays boosted their target price on shares of OneMain from $72.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, July 23rd. Piper Sandler boosted their target price on shares of OneMain from $73.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, July 2nd. Finally, Royal Bank of Canada boosted their target price on shares of OneMain from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, July 23rd. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, OneMain currently has a consensus rating of “Buy” and a consensus target price of $66.45.

In related news, CEO Douglas H. Shulman bought 4,310 shares of the business’s stock in a transaction that occurred on Thursday, August 5th. The stock was purchased at an average cost of $58.14 per share, for a total transaction of $250,583.40. Following the purchase, the chief executive officer now directly owns 241,048 shares in the company, valued at $14,014,530.72. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Apollo Management Holdings Gp, sold 10,925,000 shares of the stock in a transaction on Tuesday, August 3rd. The shares were sold at an average price of $58.36, for a total transaction of $637,583,000.00. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new position in shares of OneMain in the 2nd quarter valued at $34,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of OneMain in the 2nd quarter worth about $36,000. PNC Financial Services Group Inc. grew its holdings in shares of OneMain by 104.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 639 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 327 shares during the last quarter. Denali Advisors LLC grew its holdings in shares of OneMain by 43.6% in the 2nd quarter. Denali Advisors LLC now owns 659 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 200 shares during the last quarter. Finally, Atlas Private Wealth Advisors bought a new stake in shares of OneMain in the 2nd quarter worth about $40,000. Institutional investors own 84.96% of the company’s stock.

Shares of OMF opened at $55.13 on Wednesday. The company’s 50 day moving average price is $58.50 and its 200 day moving average price is $56.83. OneMain has a 52 week low of $28.66 and a 52 week high of $63.19. The company has a market capitalization of $7.28 billion, a PE ratio of 5.41 and a beta of 2.03.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 13th. Stockholders of record on Friday, August 6th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date was Thursday, August 5th. OneMain’s payout ratio is 46.13%.

OneMain Company Profile

OneMain Holdings, Inc is a consumer finance company, which provides origination, underwriting and servicing of personal loans, primarily to non-prime customers. It operates through the Consumer & Insurance and Other segments. The Consumer and Insurance segment comprises of service secured and unsecured personal loans, voluntary credit and non-credit insurance, and related products through its combined branch network, digital platform, and centralized operations.

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Earnings History and Estimates for OneMain (NYSE:OMF)

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