$783.22 Million in Sales Expected for OneMain Holdings Inc (NYSE:OMF) This Quarter

Wall Street analysts expect OneMain Holdings Inc (NYSE:OMF) to announce $783.22 million in sales for the current quarter, Zacks reports. Seven analysts have provided estimates for OneMain’s earnings. The lowest sales estimate is $765.00 million and the highest is $797.30 million. OneMain reported sales of $706.00 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10.9%. The business is expected to announce its next earnings report on Wednesday, October 30th.

On average, analysts expect that OneMain will report full year sales of $3.07 billion for the current financial year, with estimates ranging from $3.03 billion to $3.11 billion. For the next fiscal year, analysts expect that the company will report sales of $3.28 billion, with estimates ranging from $3.21 billion to $3.38 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for OneMain.

OneMain (NYSE:OMF) last issued its quarterly earnings results on Monday, July 29th. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.27. The business had revenue of $762.00 million for the quarter, compared to the consensus estimate of $743.08 million. OneMain had a return on equity of 20.44% and a net margin of 15.98%. During the same quarter in the prior year, the business posted $1.18 earnings per share.

OMF has been the topic of a number of analyst reports. Compass Point increased their price target on OneMain from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised OneMain from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $37.50 to $41.00 in a research report on Tuesday, July 16th. BMO Capital Markets set a $56.00 price target on OneMain and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Zacks Investment Research raised OneMain from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Friday, August 2nd. Finally, Cowen reduced their price target on OneMain from $10.00 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. OneMain currently has a consensus rating of “Buy” and an average target price of $41.27.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OMF. Varde Management L.P. bought a new stake in OneMain during the first quarter worth $360,500,000. Norges Bank bought a new stake in OneMain during the fourth quarter worth $40,862,000. Bayview Asset Management LLC bought a new stake in OneMain during the second quarter worth $27,473,000. FMR LLC lifted its stake in OneMain by 5.2% during the first quarter. FMR LLC now owns 12,225,438 shares of the financial services provider’s stock worth $388,157,000 after purchasing an additional 606,258 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in OneMain by 14.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,450,176 shares of the financial services provider’s stock worth $83,806,000 after purchasing an additional 423,499 shares during the last quarter. Hedge funds and other institutional investors own 91.02% of the company’s stock.

NYSE:OMF traded down $0.18 during trading hours on Friday, reaching $39.49. 635,537 shares of the company were exchanged, compared to its average volume of 555,529. The firm has a market capitalization of $5.32 billion, a P/E ratio of 7.80, a P/E/G ratio of 0.68 and a beta of 2.44. OneMain has a 1-year low of $22.47 and a 1-year high of $43.28. The firm has a 50 day moving average of $35.23.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.53%. The ex-dividend date is Monday, August 26th. OneMain’s payout ratio is presently 19.76%.

About OneMain

OneMain Holdings, Inc, through its subsidiaries, provides consumer finance and insurance products and services. The company operates in two segments, Consumer and Insurance, and Acquisitions and Servicing. It provides secured and unsecured personal loans; credit insurance products, such as life, disability, and involuntary unemployment insurance products; non-credit insurance; and auto membership plans, as well as retail sales finance services.

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Earnings History and Estimates for OneMain (NYSE:OMF)

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