Is Buying OneMain Holdings, Inc. (OMF) Here a Winning Strategy? The Stock Formed Bullish Multiple Top Pattern

May 23, 2018 - By Nellie Frank

OneMain Holdings, Inc. (NYSE:OMF) Logo

The stock of OneMain Holdings, Inc. (OMF) shows a multiple tops pattern with $35.71 target or 5.00 % above today’s $34.01 share price. The 9 months chart pattern indicates low risk for the $4.62 billion company. It was reported on May, 23 by Finviz.com. If the $35.71 price target is reached, the company will be worth $230.75 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 1.36% or $0.47 during the last trading session, reaching $34.01. About 123,852 shares traded. OneMain Holdings, Inc. (NYSE:OMF) has risen 18.03% since May 23, 2017 and is uptrending. It has outperformed by 6.48% the S&P500.

Analysts await OneMain Holdings, Inc. (NYSE:OMF) to report earnings on August, 1. They expect $1.15 earnings per share, up 41.98 % or $0.34 from last year’s $0.81 per share. OMF’s profit will be $156.05M for 7.39 P/E if the $1.15 EPS becomes a reality. After $1.18 actual earnings per share reported by OneMain Holdings, Inc. for the previous quarter, Wall Street now forecasts -2.54 % negative EPS growth.

More news for OneMain Holdings, Inc. (NYSE:OMF) were recently published by: Seekingalpha.com, which released: “OneMain’s (OMF) CEO Jay Levine on Q1 2018 Results – Earnings Call Transcript” on May 04, 2018. Tucson.com‘s article titled: “OneMain Financial and Main Street America Announce Six Winning Cities to Receive $25000 “Made on Main Street …” and published on May 16, 2018 is yet another important article.

OneMain Holdings, Inc., through its subsidiaries, provides consumer finance and insurance services and products. The company has market cap of $4.62 billion. The firm operates through Consumer and Insurance, Acquisitions and Servicing, and Real Estate divisions. It has a 25.19 P/E ratio. It provides secured and unsecured personal loans; credit insurance products, such as life insurance, disability insurance, protection, and involuntary unemployment insurance products; non-credit insurance; and ancillary products, such as auto membership plans.

OneMain Holdings, Inc. (NYSE:OMF) Ratings Chart

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