OneMain (NYSE:OMF) Announces Quarterly Earnings Results

OneMain (NYSE:OMF) released its quarterly earnings results on Tuesday. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.07, Briefing.com reports. OneMain had a net margin of 13.29% and a return on equity of 20.94%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $907.93 million. During the same period in the previous year, the company earned $1.46 earnings per share.

OneMain Stock Performance

Shares of OneMain stock opened at $50.76 on Thursday. The firm has a 50-day simple moving average of $48.87 and a two-hundred day simple moving average of $45.58. The company has a market cap of $6.09 billion, a P/E ratio of 9.90, a price-to-earnings-growth ratio of 0.72 and a beta of 1.63. OneMain has a fifty-two week low of $33.67 and a fifty-two week high of $53.65.

OneMain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 8.20%. This is an increase from OneMain’s previous quarterly dividend of $1.00. OneMain’s dividend payout ratio is 77.97%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of OneMain in a report on Wednesday, January 10th. They issued a “buy” rating and a $68.00 price target on the stock. TD Cowen lifted their price objective on shares of OneMain from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada lifted their price objective on shares of OneMain from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. Piper Sandler downgraded shares of OneMain from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $55.00 to $49.00 in a research note on Thursday, February 8th. Finally, Citigroup lowered their price objective on shares of OneMain from $54.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. 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.com, OneMain presently has an average rating of “Moderate Buy” and an average price target of $53.31.

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.