Analysts Offer Predictions for OneMain Holdings, Inc.'s FY2024 Earnings (NYSE:OMF)

OneMain Holdings, Inc. (NYSE:OMF - Free Report) - Analysts at Northland Capmk upped their FY2024 earnings per share (EPS) estimates for OneMain in a research report issued on Wednesday, May 1st. Northland Capmk analyst M. Grondahl now anticipates that the financial services provider will post earnings per share of $5.62 for the year, up from their prior 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.

OneMain (NYSE:OMF - Get Free Report) last posted its 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. OneMain had a return on equity of 20.94% and a net margin of 13.29%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $907.93 million. During the same quarter last year, the firm earned $1.46 earnings per share.

A number of other equities research analysts also recently weighed in on the stock. StockNews.com upgraded shares of OneMain from a "hold" rating to a "buy" rating in a research report on Wednesday, February 14th. Citigroup decreased their price target on OneMain from $54.00 to $52.00 and set a "buy" rating on the stock in a research report on Thursday, February 8th. Barclays cut their price objective 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. Northland Securities lowered shares of OneMain from an "outperform" rating to a "market perform" rating and raised their target price for the company from $46.00 to $49.00 in a report on Wednesday, January 17th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of OneMain in a report on Wednesday, January 10th. They set a "buy" rating and a $68.00 price target for the company. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, OneMain has a consensus rating of "Moderate Buy" and a consensus target price of $54.62.

OneMain Price Performance

OneMain stock traded up $0.39 during midday trading on Friday, hitting $51.20. The company's stock had a trading volume of 1,019,433 shares, compared to its average volume of 1,057,962. The company has a market cap 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 $48.95 and a two-hundred day moving average price of $45.62.

Institutional Investors Weigh In On OneMain

Several hedge funds have recently added to or reduced their stakes in OMF. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of 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 raised its position 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 worth $42,184,000 after acquiring an additional 58,079 shares during the last quarter. Verdence Capital Advisors LLC raised its position in shares of OneMain by 1.0% during the third quarter. Verdence Capital Advisors LLC now owns 35,708 shares of the financial services provider's stock worth $1,432,000 after acquiring an additional 363 shares during the last quarter. 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 acquiring an additional 13,697 shares during the period. Finally, Strs Ohio boosted its holdings in OneMain by 20.9% in the third quarter. Strs Ohio now owns 39,636 shares of the financial services provider's stock valued at $1,589,000 after acquiring an additional 6,855 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

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 issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 8.13%. The ex-dividend date of this dividend is Thursday, May 9th. This is a positive change from OneMain's previous quarterly dividend of $1.00. OneMain's dividend payout ratio (DPR) is 77.97%.

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.