FG New America Acquisition Corp. (NYSE:OPFI) Expected to Announce Quarterly Sales of $99.40 Million

Wall Street analysts expect that FG New America Acquisition Corp. (NYSE:OPFI) will announce $99.40 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for FG New America Acquisition’s earnings, with the highest sales estimate coming in at $100.43 million and the lowest estimate coming in at $98.36 million. The firm is expected to issue its next earnings report on Thursday, February 10th.

According to Zacks, analysts expect that FG New America Acquisition will report full-year sales of $354.01 million for the current fiscal year, with estimates ranging from $352.97 million to $355.04 million. For the next fiscal year, analysts expect that the business will post sales of $423.70 million, with estimates ranging from $410.65 million to $436.75 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for FG New America Acquisition.

FG New America Acquisition (NYSE:OPFI) last released its earnings results on Thursday, November 11th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.05. The firm had revenue of $91.98 million during the quarter, compared to analysts’ expectations of $90.66 million.

OPFI has been the subject of several research reports. Needham & Company LLC initiated coverage on shares of FG New America Acquisition in a report on Tuesday, August 17th. They set a “buy” rating and a $10.00 price target for the company. Piper Sandler initiated coverage on shares of FG New America Acquisition in a report on Friday, August 20th. They set a “neutral” rating and a $7.00 price target for the company. DA Davidson decreased their price target on shares of FG New America Acquisition from $14.00 to $12.00 and set a “buy” rating for the company in a report on Monday, August 16th. Finally, Zacks Investment Research upgraded shares of FG New America Acquisition from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 19th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $11.40.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Davidson Kempner Capital Management LP acquired a new stake in shares of FG New America Acquisition in the first quarter worth $5,679,000. TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new stake in shares of FG New America Acquisition in the first quarter worth $3,567,000. Picton Mahoney Asset Management acquired a new stake in shares of FG New America Acquisition in the second quarter worth $2,044,000. Verition Fund Management LLC acquired a new stake in shares of FG New America Acquisition in the first quarter worth $1,785,000. Finally, Schonfeld Strategic Advisors LLC lifted its stake in shares of FG New America Acquisition by 75.0% in the first quarter. Schonfeld Strategic Advisors LLC now owns 126,000 shares of the company’s stock worth $1,284,000 after buying an additional 53,993 shares during the last quarter.

Shares of OPFI stock traded down $0.06 during trading on Thursday, hitting $5.22. 18,159 shares of the company were exchanged, compared to its average volume of 440,732. The business’s 50-day moving average is $6.53. FG New America Acquisition has a twelve month low of $5.06 and a twelve month high of $11.60.

About FG New America Acquisition

FG New America Acquisition Corp. does not have significant operations. The company intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to identify businesses in the insurance and financial services industry, with focuses on finTech and insuretech sectors.

Featured Story: Earnings Per Share

Get a free copy of the Zacks research report on FG New America Acquisition (OPFI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for FG New America Acquisition (NYSE:OPFI)

Receive News & Ratings for FG New America Acquisition Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FG New America Acquisition and related companies with MarketBeat.com's FREE daily email newsletter.