OneMain Holdings Inc (OMF) Expected to Post Quarterly Sales of $651.87 Million

Equities analysts expect OneMain Holdings Inc (NYSE:OMF) to announce sales of $651.87 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for OneMain’s earnings. The highest sales estimate is $674.00 million and the lowest is $630.00 million. OneMain reported sales of $567.00 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 15%. The company is scheduled to issue its next earnings results after the market closes on Wednesday, February 14th.

According to Zacks, analysts expect that OneMain will report full year sales of $651.87 million for the current fiscal year, with estimates ranging from $2.35 billion to $2.53 billion. For the next fiscal year, analysts anticipate that the company will report sales of $2.74 billion per share, with estimates ranging from $2.66 billion to $2.85 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow OneMain.

OMF has been the topic of several analyst reports. Bank of America set a $35.00 target price on OneMain and gave the company a “buy” rating in a report on Friday, October 13th. Citigroup assumed coverage on OneMain in a research note on Monday, October 16th. They issued a “neutral” rating and a $35.00 price target on the stock. Compass Point lowered OneMain from a “buy” rating to a “neutral” rating and set a $31.00 price target on the stock. in a research note on Friday, November 3rd. Northland Securities reissued a “hold” rating and issued a $35.00 price target on shares of OneMain in a research note on Friday, November 3rd. Finally, BMO Capital Markets boosted their price target on OneMain from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. OneMain has a consensus rating of “Buy” and an average target price of $34.62.

In other OneMain news, Director Wesley R. Edens sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $26.00, for a total value of $26,000,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Fortress Investment Group Llc sold 7,500,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $25.10, for a total value of $188,250,000.00. The disclosure for this sale can be found here. 57.73% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of OneMain by 103.0% during the second quarter. JPMorgan Chase & Co. now owns 4,336 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 2,200 shares during the period. SG Americas Securities LLC acquired a new position in shares of OneMain during the third quarter worth approximately $119,000. Cubist Systematic Strategies LLC acquired a new position in shares of OneMain during the second quarter worth approximately $132,000. State of Alaska Department of Revenue acquired a new position in shares of OneMain during the fourth quarter worth approximately $142,000. Finally, Virginia Retirement Systems ET AL acquired a new position in shares of OneMain during the third quarter worth approximately $206,000. 95.88% of the stock is currently owned by institutional investors.

Shares of OneMain (NYSE:OMF) opened at $30.00 on Friday. OneMain has a twelve month low of $22.04 and a twelve month high of $35.11. The company has a market capitalization of $4,110.00, a P/E ratio of 23.81, a P/E/G ratio of 1.37 and a beta of 2.86.

TRADEMARK VIOLATION WARNING: “OneMain Holdings Inc (OMF) Expected to Post Quarterly Sales of $651.87 Million” was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/02/10/onemain-holdings-inc-omf-expected-to-post-quarterly-sales-of-651-87-million.html.

About OneMain

OneMain Holdings, Inc is a financial services holding company. The Company is a consumer finance company, which is engaged in providing personal loan products; credit and non-credit insurance, and service loans owned by it and service or subservice loans owned by third-parties. The Company’s segments include Consumer and Insurance; Acquisitions and Servicing; Real Estate, and Other.

Get a free copy of the Zacks research report on OneMain (OMF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for OneMain Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OneMain and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply