Research Analysts Offer Predictions for OneMain Holdings, Inc.’s Q2 2024 Earnings (NYSE:OMF)

OneMain Holdings, Inc. (NYSE:OMF) – Analysts at Northland Capmk decreased their Q2 2024 EPS estimates for OneMain in a research note issued to investors on Wednesday, May 1st. Northland Capmk analyst M. Grondahl now anticipates that the financial services provider will earn $1.17 per share for the quarter, down from their previous forecast of $1.26. The consensus estimate for OneMain’s current full-year earnings is $5.67 per share.

OneMain (NYSE:OMF) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.07. OneMain had a net margin of 13.29% and a return on equity of 20.94%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $907.93 million. During the same period in the prior year, the company earned $1.46 EPS.

Several other research firms have also commented on OMF. Barclays reduced their price target on OneMain from $57.00 to $54.00 and set an “overweight” rating on the stock in a research report on Thursday, February 8th. StockNews.com upgraded shares of OneMain from a “hold” rating to a “buy” rating in a research note on Wednesday, February 14th. Stephens dropped their price target on shares of OneMain from $61.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, February 8th. JPMorgan Chase & Co. upped their price objective on shares of OneMain from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Citigroup lowered their target price on OneMain from $54.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.31.

OneMain Price Performance

Shares of NYSE OMF opened at $50.77 on Thursday. OneMain has a 1-year low of $33.67 and a 1-year high of $53.65. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 0.72 and a beta of 1.63. The business has a 50-day moving average of $48.87 and a 200-day moving average of $45.58.

OneMain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 10th will be issued a dividend of $1.04 per share. This is an increase from OneMain’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $4.16 annualized dividend and a dividend yield of 8.19%. OneMain’s payout ratio is 77.97%.

Institutional Trading of OneMain

A number of large investors have recently modified their holdings of OMF. Quantbot Technologies LP bought a new position in OneMain in the 3rd quarter worth about $26,000. Blue Trust Inc. boosted its position in shares of OneMain by 49.9% during the fourth quarter. Blue Trust Inc. now owns 730 shares of the financial services provider’s stock worth $36,000 after buying an additional 243 shares during the period. Benjamin F. Edwards & Company Inc. bought a new position in OneMain in the 4th quarter worth approximately $36,000. Operose Advisors LLC bought a new position in OneMain in the 3rd quarter worth approximately $40,000. Finally, Allworth Financial LP increased its position in OneMain by 368.4% in the 3rd quarter. Allworth Financial LP now owns 1,068 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 840 shares during the period. Institutional investors and hedge funds own 85.82% of the company’s stock.

OneMain Company Profile

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