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OMF - OneMain Holdings Inc News Story

$29.63 -0.1  -0.3%

Last Trade - 13/08/20

Large Cap
Market Cap £3.05bn
Enterprise Value £14.74bn
Revenue £3.80bn
Position in Universe 1297th / 6381

BUZZ-Piper Sandler cuts PT of consumer lenders on coronavirus impacts

Thu 9th April, 2020 4:48pm
** Piper Sandler cuts PT of consumer lenders Ally Financial
 ALLY.N , Capital One Financial  COF.N , Discover Financial
Services  DFS.N , OneMain Holdings  OMF.N , Santander Consumer
    ** Brokerage expects consumer lenders to withdraw forecast
and provide views on potential credit losses due to the
coronavirus outbreak
    ** Piper Sandler lowers profit estimates for FY20 and FY21
on rising credit losses, slower receivables growth and removal
of share buybacks through 2021
    ** Brokerage says these companies have gone through
financial crisis-like stress tests which indicates most could
remain profitable and enough capitalized through the crisis
    ** Believes current valuations gives an attractive entry
point for long-term investor looking through the volatility 
    ** Dow Jones U.S. Financials Index  .DJUSFN  down 21% so far
this year
 Companies                      New PT      Old PT
 Ally Financial                 $28         $35
 Capital One Financial          $83         $110
 Discover Financial Services    $48         $82
 OneMain Holdings               $34         $60
 Santander Consumer             $16         $26

 (Reporting by Amal S in Bengaluru)
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