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

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

On average, analysts expect that FG New America Acquisition will report full year sales of $354.01 million for the current year, with estimates ranging from $352.97 million to $355.04 million. For the next fiscal year, analysts anticipate that the firm will report sales of $423.70 million, with estimates ranging from $410.65 million to $436.75 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow FG New America Acquisition.

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

Several equities research analysts have weighed in on OPFI shares. DA Davidson reduced their price objective on FG New America Acquisition from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, August 16th. Zacks Investment Research raised FG New America Acquisition from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 19th. Piper Sandler started coverage on FG New America Acquisition in a research note on Friday, August 20th. They set a “neutral” rating and a $7.00 price objective on the stock. Finally, Needham & Company LLC started coverage on FG New America Acquisition in a research note on Tuesday, August 17th. They set a “buy” rating and a $10.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $11.40.

NYSE OPFI traded down $0.06 during trading hours on Thursday, hitting $5.22. 18,159 shares of the company were exchanged, compared to its average volume of 440,732. The stock has a 50-day moving average price of $6.53. FG New America Acquisition has a 52 week low of $5.06 and a 52 week high of $11.60.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC bought a new position in shares of FG New America Acquisition during the second quarter valued at approximately $64,000. Vestor Capital LLC bought a new position in shares of FG New America Acquisition during the third quarter valued at approximately $77,000. Penserra Capital Management LLC bought a new position in shares of FG New America Acquisition during the second quarter valued at approximately $81,000. Optimum Investment Advisors bought a new position in shares of FG New America Acquisition during the second quarter valued at approximately $116,000. Finally, Flow Traders U.S. LLC purchased a new stake in shares of FG New America Acquisition in the first quarter valued at approximately $131,000.

FG New America Acquisition Company Profile

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.

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

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