Jefferies Cuts Price Target on OneMain Holdings (OMF) to $30; Reiterates Buy
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Jefferies maintained a Buy rating on OneMain Holdings (NYSE: OMF), and cut the price target to $30.00 (from $40.00), following the company's 3Q earnings report. OMF reported EPS of $0.90, versus the consensus of $1.06. Management provided updated core EPS guidance, reducing 2016 core EPS guidance from $4.20-$4.70 to $3.60-$3.70 and 2017 core EPS guidance from $5.60-$6.10 to $3.75-$4.00.
Analyst John Hecht commented, "OMF reported core EPS of $0.90, versus JEFe of $1.04 and consensus of $1.06. The company reduced 2017 core EPS guidance ~33% at the mid-point, which we believe is attributable to integration missteps which have negatively impacted origination volumes and are impacting credit metrics. While the results/ guidance were disappointing, we believe the earnings power of the combined entity remains attractive in the context of the valuation."
Shares of OneMain closed at $27.57 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
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