$181.07 Million in Sales Expected for On Holding AG (NYSE:ONON) This Quarter

Analysts expect that On Holding AG (NYSE:ONON – Get Rating) will announce sales of $181.07 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for ON’s earnings, with the lowest sales estimate coming in at $172.37 million and the highest estimate coming in at $186.99 million. The business is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that ON will report full year sales of $1.05 billion for the current financial year, with estimates ranging from $990.10 million to $1.07 billion. For the next year, analysts expect that the business will report sales of $1.50 billion, with estimates ranging from $1.39 billion to $1.57 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for ON.

ON (NYSE:ONON – Get Rating) last issued its quarterly earnings data on Friday, March 18th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.61) by ($0.04). The business had revenue of $207.32 million for the quarter, compared to analyst estimates of $195.28 million.

A number of research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of ON from a “hold” rating to a “sell” rating in a research report on Thursday. Morgan Stanley reduced their target price on shares of ON from $41.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, March 21st. Telsey Advisory Group reduced their target price on shares of ON from $53.00 to $39.00 and set an “outperform” rating for the company in a research report on Wednesday, March 16th. UBS Group reduced their target price on shares of ON from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, March 21st. Finally, Berenberg Bank initiated coverage on shares of ON in a report on Tuesday, April 19th. They issued a “buy” rating and a $31.00 price objective for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $38.82.

ON stock opened at $24.97 on Monday. ON has a twelve month low of $19.75 and a twelve month high of $55.87. The firm has a 50 day moving average price of $24.53 and a 200-day moving average price of $30.89.

Institutional investors and hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new stake in shares of ON during the third quarter valued at about $36,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of ON in the third quarter worth approximately $52,000. Citigroup Inc. bought a new position in shares of ON in the third quarter worth approximately $54,000. IFP Advisors Inc increased its position in shares of ON by 61.9% in the fourth quarter. IFP Advisors Inc now owns 1,850 shares of the company’s stock worth $69,000 after purchasing an additional 707 shares during the last quarter. Finally, Monetary Management Group Inc. bought a new position in shares of ON in the fourth quarter worth approximately $76,000. Hedge funds and other institutional investors own 17.61% of the company’s stock.

ON Company Profile (Get Rating)

On Holding AG develops and distributes sports products worldwide. It offers athletic footwear, apparel, and accessories. The company offers its products through independent retailers and distributors, online, and stores. On Holding AG was founded in 2010 and is headquartered in Zurich, Switzerland.

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