$99.40 Million in Sales Expected for FG New America Acquisition Corp. (NYSE:OPFI) This Quarter

Wall Street brokerages expect that FG New America Acquisition Corp. (NYSE:OPFI) will announce $99.40 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for FG New America Acquisition’s earnings, with the highest sales estimate coming in at $100.43 million and the lowest estimate coming in at $98.36 million. The company is expected to report its next earnings report on Thursday, February 10th.

According to Zacks, analysts expect that FG New America Acquisition will report full-year sales of $354.01 million for the current year, with estimates ranging from $352.97 million to $355.04 million. For the next year, analysts forecast that the company will post sales of $423.70 million, with estimates ranging from $410.65 million to $436.75 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow FG New America Acquisition.

FG New America Acquisition (NYSE:OPFI) last announced its quarterly earnings results on Thursday, November 11th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. The firm had revenue of $91.98 million during the quarter, compared to analysts’ expectations of $90.66 million.

A number of brokerages recently issued reports on OPFI. Piper Sandler began coverage on FG New America Acquisition in a report on Friday, August 20th. They issued a “neutral” rating and a $7.00 price target for the company. Zacks Investment Research upgraded FG New America Acquisition from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 19th. Needham & Company LLC initiated coverage on FG New America Acquisition in a report on Tuesday, August 17th. They set a “buy” rating and a $10.00 target price for the company. Finally, DA Davidson lowered their target price on FG New America Acquisition from $14.00 to $12.00 and set a “buy” rating for the company in a report on Monday, August 16th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $11.40.

Institutional investors and hedge funds have recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of FG New America Acquisition during the 2nd quarter valued at $64,000. Vestor Capital LLC purchased a new stake in shares of FG New America Acquisition during the 3rd quarter valued at $77,000. Penserra Capital Management LLC purchased a new stake in shares of FG New America Acquisition during the 2nd quarter valued at $81,000. Optimum Investment Advisors acquired a new position in shares of FG New America Acquisition in the 2nd quarter valued at $116,000. Finally, Flow Traders U.S. LLC acquired a new position in shares of FG New America Acquisition in the 1st quarter valued at $131,000.

Shares of NYSE OPFI traded down $0.06 during trading hours on Thursday, reaching $5.22. The stock had a trading volume of 18,159 shares, compared to its average volume of 440,732. The company has a fifty day moving average price of $6.53. FG New America Acquisition has a 52-week low of $5.06 and a 52-week high of $11.60.

FG New America Acquisition Company Profile

FG New America Acquisition Corp. does not have significant operations. The company intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to identify businesses in the insurance and financial services industry, with focuses on finTech and insuretech sectors.

Further Reading: Understanding Price to Earnings Ratio (PE)

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Earnings History and Estimates for FG New America Acquisition (NYSE:OPFI)

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