Price Action to Note: A Reversal for OneMain Holdings Inc Is Not Near. The Stock Reaches 52 Week Low Today

Price Action to Note: A Reversal for OneMain Holdings Inc Is Not Near. The Stock Reaches 52 Week Low Today

The stock of OneMain Holdings Inc (NYSE:OMF) hit a new 52-week low and has $15.52 target or 9.00% below today’s $17.06 share price. The 7 months bearish chart indicates high risk for the $2.27 billion company. The 1-year low was reported on Nov, 8 by Barchart.com. If the $15.52 price target is reached, the company will be worth $204.30M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 3.82M shares traded hands or 770.54% up from the average. OneMain Holdings Inc (NYSE:OMF) has risen 9.08% since April 5, 2016 and is uptrending. It has outperformed by 7.13% the S&P500.

Analysts await OneMain Holdings Inc (NYSE:OMF) to report earnings on November, 14. They expect $1.07 EPS, up 114.00% or $0.57 from last year’s $0.5 per share. OMF’s profit will be $142.67M for 4.00 P/E if the $1.07 EPS becomes a reality. After $1.46 actual EPS reported by OneMain Holdings Inc for the previous quarter, Wall Street now forecasts -26.71% negative EPS growth.

OneMain Holdings Inc (NYSE:OMF) Ratings Coverage

Out of 8 analysts covering OneMain Holdings (NYSE:OMF), 6 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 75% are positive. OneMain Holdings has been the topic of 9 analyst reports since December 1, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Tuesday, December 1 by Citigroup. The company was reinitiated on Monday, December 21 by Credit Suisse. The company was initiated on Tuesday, October 11 by Wedbush. The firm earned “Neutral” rating on Friday, February 26 by Compass Point. On Tuesday, November 8 the stock rating was downgraded by FBR Capital to “Mkt Perform”. The stock of OneMain Holdings Inc (NYSE:OMF) has “Overweight” rating given on Friday, February 26 by Barclays Capital. The stock of OneMain Holdings Inc (NYSE:OMF) has “Outperform” rating given on Friday, February 26 by FBR Capital. JP Morgan initiated OneMain Holdings Inc (NYSE:OMF) rating on Monday, September 12. JP Morgan has “Overweight” rating and $38 price target.

According to Zacks Investment Research, “OneMain Holdings Inc. is a consumer financial services holding company. The Company’s operating segments consists of Consumer and Insurance, Acquisitions and Servicing and Real Estate. OneMain Holdings Inc., formerly known as Springleaf Holdings, Inc. is based in Evansville, United States.”

More notable recent OneMain Holdings Inc (NYSE:OMF) news were published by: Businesswire.com which released: “OneMain Holdings, Inc. Reports Third Quarter 2016 Results” on November 07, 2016, also Marketwatch.com with their article: “Plus the latest data from Realtor.com on 21 home markets across the US” published on December 01, 2015, Seekingalpha.com published: “OneMain Holdings’ (OMF) CEO Jay Levine on Q3 2016 Results – Earnings Call …” on November 08, 2016. More interesting news about OneMain Holdings Inc (NYSE:OMF) were released by: Businesswire.com and their article: “Springleaf Holdings Announces Closing of OneMain Acquisition and Ticker Symbol …” published on November 16, 2015 as well as Businesswire.com‘s news article titled: “OneMain Holdings, Inc. Closes Previously Announced Branch Sale to Lendmark” with publication date: May 02, 2016.

OMF Company Profile

OneMain Holdings, Inc., formerly Springleaf Holdings, Inc., incorporated on August 5, 2013, is a financial services holding company. The Firm provides responsible loan products; offers credit and non-credit insurance; pursues strategic acquisitions of loan portfolios, and pursues acquisitions of companies and/or establish joint ventures. The Firm operates through three divisions: Consumer and Insurance; Acquisitions and Servicing, and Real Estate. The Company’s subsidiaries include Springleaf Finance, Inc. (SFI) and Independence Holdings, LLC (Independence). SFI’s principal subsidiary is Springleaf Finance Corporation (SFC), and Independence’s principal subsidiary is OneMain Financial Holdings, LLC (OMFH). SFC and OMFH are financial services holding companies with subsidiaries engaged in the consumer finance and insurance businesses.

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