OneMain Holdings, Inc. (NYSE:OMF) to Post FY2024 Earnings of $5.62 Per Share, Northland Capmk Forecasts

OneMain Holdings, Inc. (NYSE:OMF) – Equities researchers at Northland Capmk increased their FY2024 earnings per share (EPS) estimates for OneMain in a report released on Wednesday, May 1st. Northland Capmk analyst M. Grondahl now anticipates that the financial services provider will earn $5.62 per share for the year, up from their previous estimate of $5.49. The consensus estimate for OneMain’s current full-year earnings is $5.65 per share. Northland Capmk also issued estimates for OneMain’s Q4 2024 earnings at $1.56 EPS.

Several other brokerages also recently weighed in on OMF. Stephens lowered their target price on OneMain from $61.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, February 8th. Royal Bank of Canada boosted their price objective on shares of OneMain from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Barclays lowered their target price on shares of OneMain from $57.00 to $54.00 and set an “overweight” rating on the stock in a report on Thursday, February 8th. JMP Securities increased their price target on shares of OneMain from $57.00 to $62.00 and gave the stock a “market outperform” rating in a report on Wednesday. Finally, Piper Sandler lowered OneMain from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $55.00 to $49.00 in a report on Thursday, February 8th. Four 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.62.

OneMain Stock Performance

Shares of OMF opened at $51.20 on Friday. OneMain has a fifty-two week low of $33.67 and a fifty-two week high of $53.65. The firm has a 50-day simple moving average of $49.05 and a 200-day simple moving average of $45.71. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 9.98, a price-to-earnings-growth ratio of 0.71 and a beta of 1.63.

OneMain (NYSE:OMF) last issued 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. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $907.93 million. OneMain had a net margin of 13.29% and a return on equity of 20.94%. During the same quarter in the prior year, the business earned $1.46 EPS.

OneMain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 10th will be issued a $1.04 dividend. This is a positive change 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 yield of 8.13%. OneMain’s dividend payout ratio is 77.97%.

Institutional Investors Weigh In On OneMain

A number of large investors have recently added to or reduced their stakes in OMF. Cambridge Investment Research Advisors Inc. lifted its stake in OneMain by 3.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 97,198 shares of the financial services provider’s stock valued at $3,897,000 after buying an additional 2,800 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of OneMain by 5.8% during the third quarter. Bank of New York Mellon Corp now owns 1,052,225 shares of the financial services provider’s stock valued at $42,184,000 after acquiring an additional 58,079 shares during the last quarter. Verdence Capital Advisors LLC increased its position in OneMain by 1.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 35,708 shares of the financial services provider’s stock worth $1,432,000 after purchasing an additional 363 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in OneMain by 71.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,001 shares of the financial services provider’s stock valued at $1,323,000 after purchasing an additional 13,697 shares during the last quarter. Finally, Strs Ohio lifted its holdings in OneMain by 20.9% in the 3rd quarter. Strs Ohio now owns 39,636 shares of the financial services provider’s stock valued at $1,589,000 after purchasing an additional 6,855 shares in the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.

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.