44 days have passed by since the last earnings report for OneMain Holdings, Inc. (NYSE:OMF) and the new quarterly results look set to arrive in 65 days. The shares of OMF at the moment are trading at a volume of 0.66 million, which compares with its normal daily standard volume of 590476 shares. This has led to the shares of the company advancing by 0.26%, currently exchanging hands at $38.41 a share. OMF stock has been up by $4.87 (-6.34%) ever since it reached its 52-week high of $43.28 back in August 01, 2019. It has progressed above its 50-day moving average of $37.9 and is up 8.78% over the past week. The stock has added 4.2% since the last one arrived so the question here is that will the upbeat trend in that time frame continue leading up to its next earnings release, or is the OMF share price due for a correction?
OneMain Holdings, Inc. (OMF) Forecasts And Latest Quarter Earnings
Ahead of their fiscal third-quarter to be released on Friday, Nov 15, 2019, 16 analysts who are covering the company are estimating that it will record a profit of $1.58 per share, with analysts having different outlooks from $1.49 to $1.76. The current agreed outlook, when compared to the profit recorded last year, is at $1.31 a share, thus an increase of 20.61% is expected. The profit view for a complete financial year for OneMain Holdings, Inc. is expected to be around $6.16 in current year, a decline of nearly 21.74% from last year which was $5.06.
Analyzing The Earnings History Of OneMain Holdings, Inc. (NYSE:OMF)
In the past few years, the OMF stock has been known to miss the Wall Street’s earnings projection. The company missed 25% of the time, according to the data pulled on their earnings, was able to meet predictions on 1 occasions and topped expectations 8 times. Looking at the past trend, the price of OneMain Holdings, Inc. shares had risen following the release of their earnings in 9 of the last 14 quarters.
Looking back, here is how OneMain Holdings, Inc. (OMF) stock reacted to earnings misses and beats. It gave investors reason to be bullish with the price going down after 1 of the last four earnings reports. The shares of OneMain Holdings, Inc. recorded 17.61%, -3.88%, 12.63% and 8.24%, respectively, on the first day of past earnings releases. After a week of earnings reports, the changes were 11.29%, -2.01%, 16.07% and 7.54%. Their post-earnings price movements have resulted in an average increase of 8.65% and an average increase of 8.22% in OneMain Holdings, Inc. on next day and 7th day, sequentially. OMF’s one month stock performance led to its shares rising by 2.16% with a return of 14.44% witnessed over the last 52 weeks.
OneMain Holdings, Inc. (OMF) Post Earnings Announcement Drift (PEAD)
Back on July 29, 2019, OneMain Holdings, Inc. (NYSE:OMF) released its Q2 results, in which it recorded EPS of $1.62 that exceeded consensus estimates of $1.34. After the earnings were reported, the price of OMF stock kicked off the session at $38.93 and remained in a range of $39.12 to $42.16 on the first day. The shares were priced at $42.07 at the close with a total volume of shares being 2777138.
On April 29, 2019, the Q1 earnings report was disclosed with EPS of $1.37. This was above the estimation of $1.33 per share. The stock price range of OMF was between $34.78 and $35.34 on the first-day post announcement, after opening the day at $33.77. The session came to close at $33.97 and there was a total volume of 882720 shares.
February 11, 2019 was the day when its Q4 results were unveiled. The earnings came in at $1.39, beating the projected $1.33 per share. The very next day, OMF stock opened at $32.2 while staying in a range of $32.43 to $34.6. At the end, it moved to $33.71 a total volume of shares been 2796870.
In the year-ago Q3 earnings on October 31, 2018, the company saw profit per share of $1.31. That was better than the $1.28 analysts had expected. OneMain Holdings, Inc. share price started at $27.84 on the first full trading day post-earning and then exchanged hands between $28.8 and $30.97 throughout the session. The closing price of $30.87 came on the back of 1409426 shares in volume.