Equities Analysts Set Expectations for OneMain Holdings, Inc.’s Q1 2023 Earnings (NYSE:OMF)

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OneMain Holdings, Inc. (NYSE:OMF – Get Rating) – Analysts at Jefferies Financial Group decreased their Q1 2023 EPS estimates for OneMain in a research note issued to investors on Tuesday, February 7th. Jefferies Financial Group analyst J. Hecht now anticipates that the financial services provider will earn $1.66 per share for the quarter, down from their previous forecast of $2.02. The consensus estimate for OneMain’s current full-year earnings is $6.94 per share. Jefferies Financial Group also issued estimates for OneMain’s Q4 2023 earnings at $2.02 EPS, Q1 2024 earnings at $1.90 EPS and Q4 2024 earnings at $2.26 EPS.

OneMain (NYSE:OMF – Get Rating) last posted its earnings results on Tuesday, February 7th. The financial services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.06. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. OneMain had a return on equity of 29.95% and a net margin of 19.10%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.38 earnings per share.

OMF has been the topic of a number of other reports. Citigroup upped their target price on OneMain from $39.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday. Stephens raised their price objective on shares of OneMain from $44.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday. Credit Suisse Group lifted their target price on OneMain from $45.00 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday. Royal Bank of Canada dropped their price target on OneMain from $51.00 to $46.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 25th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of OneMain from $40.00 to $47.00 and gave the company an “overweight” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, OneMain presently has an average rating of “Moderate Buy” and a consensus target price of $55.15.

OneMain Stock Performance

NYSE:OMF opened at $45.49 on Friday. OneMain has a one year low of $28.77 and a one year high of $54.96. The business’s 50-day simple moving average is $38.05 and its 200 day simple moving average is $36.58. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 6.46 and a beta of 1.73.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC boosted its position in shares of OneMain by 78.9% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 680 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 300 shares in the last quarter. Denali Advisors LLC boosted its holdings in OneMain by 103.2% during the fourth quarter. Denali Advisors LLC now owns 754 shares of the financial services provider’s stock worth $25,000 after buying an additional 383 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new position in OneMain in the third quarter worth approximately $26,000. Atlas Capital Advisors LLC acquired a new stake in shares of OneMain during the 2nd quarter valued at $29,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of OneMain by 129.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 710 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 84.29% of the company’s stock.

OneMain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 24th. Stockholders of record on Friday, February 17th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 8.79%. The ex-dividend date is Thursday, February 16th. This is an increase from OneMain’s previous quarterly dividend of $0.95. OneMain’s payout ratio is currently 56.82%.

About OneMain

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OneMain Holdings, Inc is a consumer finance company, which provides origination, underwriting and servicing of personal loans, primarily to non-prime customers. It operates through the following segments: Consumer & Insurance and Other segments. The Consumer & Insurance segment consists of service secured and unsecured personal loans, voluntary credit and non-credit insurance, and related products through its combined branch network, digital platform, and centralized operations.