Equities Analysts Set Expectations for OneMain Holdings, Inc.’s Q2 2024 Earnings (NYSE:OMF)

OneMain Holdings, Inc. (NYSE:OMF) – Equities researchers at Seaport Res Ptn cut their Q2 2024 earnings per share (EPS) estimates for OneMain in a report released on Wednesday, May 1st. Seaport Res Ptn analyst W. Ryan now forecasts that the financial services provider will post earnings of $0.84 per share for the quarter, down from their prior forecast of $0.88. The consensus estimate for OneMain’s current full-year earnings is $5.65 per share. Seaport Res Ptn also issued estimates for OneMain’s Q3 2024 earnings at $1.48 EPS and Q4 2024 earnings at $1.58 EPS.

Other analysts have also recently issued research reports about the stock. BMO Capital Markets lifted their price objective on shares of OneMain from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Thursday. Barclays dropped their price target on shares of OneMain from $57.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, February 8th. Deutsche Bank Aktiengesellschaft assumed coverage on OneMain in a research report on Wednesday, January 10th. They set a “buy” rating and a $68.00 price target on the stock. Stephens dropped their price objective on OneMain from $61.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, February 8th. Finally, TD Cowen increased their target price on OneMain from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $54.62.

OneMain Stock Performance

OMF opened at $51.20 on Thursday. The stock has a fifty day moving average of $49.05 and a 200-day moving average of $45.71. OneMain has a fifty-two week low of $33.67 and a fifty-two week high of $53.65. The company has a market capitalization of $6.14 billion, a P/E ratio of 9.98, a P/E/G ratio of 0.71 and a beta of 1.63.

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

OneMain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, May 9th. This is a positive change from OneMain’s previous quarterly dividend of $1.00. This represents a $4.16 annualized dividend and a yield of 8.13%. OneMain’s dividend payout ratio (DPR) is 77.97%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OMF. Quantbot Technologies LP acquired a new position in shares of OneMain during the third quarter worth $26,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of OneMain in the fourth quarter valued at approximately $36,000. Blue Trust Inc. raised its holdings in OneMain by 49.9% in the 4th quarter. Blue Trust Inc. now owns 730 shares of the financial services provider’s stock valued at $36,000 after buying an additional 243 shares during the last quarter. ZRC Wealth Management LLC acquired a new stake in OneMain during the 4th quarter worth approximately $45,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in OneMain during the 4th quarter worth approximately $47,000. 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.