OneMain Holdings, Inc. (NYSE:OMF) Expected to Earn Q2 2024 Earnings of $0.84 Per Share

OneMain Holdings, Inc. (NYSE:OMF) – Investment analysts at Seaport Res Ptn cut their Q2 2024 earnings per share (EPS) estimates for OneMain in a research note issued on Wednesday, May 1st. Seaport Res Ptn analyst W. Ryan now expects that the financial services provider will earn $0.84 per share for the quarter, down from their previous 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.

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

A number of other brokerages have also recently issued reports on OMF. Citigroup decreased their target price on OneMain from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Royal Bank of Canada raised their target price on shares of OneMain from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Piper Sandler downgraded shares of OneMain from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $55.00 to $49.00 in a research report on Thursday, February 8th. Stephens lowered their price target on OneMain from $61.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, February 8th. Finally, Barclays reduced their price objective on OneMain from $57.00 to $54.00 and set an “overweight” rating for the company in a research note on Thursday, February 8th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.62.

OneMain Stock Performance

Shares of NYSE:OMF opened at $51.20 on Thursday. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 0.71 and a beta of 1.63. OneMain has a 1-year low of $33.67 and a 1-year high of $53.65. The company has a 50 day moving average price of $49.05 and a 200 day moving average price of $45.71.

OneMain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This is a boost from OneMain’s previous quarterly dividend of $1.00. This represents a $4.16 dividend on an annualized basis and a yield of 8.13%. OneMain’s payout ratio is 77.97%.

Institutional Investors Weigh In On OneMain

Several institutional investors and hedge funds have recently modified their holdings of the business. AE Wealth Management LLC lifted its position in shares of OneMain by 27.8% in the third quarter. AE Wealth Management LLC now owns 9,001 shares of the financial services provider’s stock worth $361,000 after buying an additional 1,959 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in OneMain by 3.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 97,198 shares of the financial services provider’s stock worth $3,897,000 after purchasing an additional 2,800 shares during the period. Bank of New York Mellon Corp grew its holdings in 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 purchasing an additional 58,079 shares during the last quarter. Verdence Capital Advisors LLC raised its position in shares of OneMain by 1.0% in the third quarter. Verdence Capital Advisors LLC now owns 35,708 shares of the financial services provider’s stock valued at $1,432,000 after purchasing an additional 363 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of OneMain by 71.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,001 shares of the financial services provider’s stock worth $1,323,000 after buying an additional 13,697 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

About OneMain

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.