ON (ONON) to Release Quarterly Earnings on Tuesday

ON (NYSE:ONONGet Rating) is scheduled to be issuing its quarterly earnings data before the market opens on Tuesday, May 17th. Analysts expect the company to announce earnings of ($0.13) per share for the quarter. ON has set its FY 2022 guidance at EPS.Parties interested in listening to the company’s conference call can do so using this link.

ON (NYSE:ONONGet Rating) last released its earnings results on Friday, March 18th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.04). The company had revenue of $207.32 million for the quarter, compared to the consensus estimate of $195.28 million. On average, analysts expect ON to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

ON stock opened at $20.74 on Tuesday. The firm has a 50 day moving average of $24.56 and a 200 day moving average of $30.59. ON has a 12-month low of $19.75 and a 12-month high of $55.87.

ONON has been the subject of several analyst reports. Bank of America initiated coverage on shares of ON in a report on Monday. They issued an “underperform” rating and a $16.00 target price for the company. Berenberg Bank assumed coverage on shares of ON in a report on Tuesday, April 19th. They set a “buy” rating and a $31.00 price objective for the company. Telsey Advisory Group cut their price objective on shares of ON from $53.00 to $39.00 and set an “outperform” rating for the company in a report on Wednesday, March 16th. Zacks Investment Research lowered shares of ON from a “hold” rating to a “sell” rating in a report on Thursday, April 28th. Finally, Wedbush reaffirmed a “neutral” rating on shares of ON in a report on Thursday, April 28th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, ON has a consensus rating of “Hold” and an average target price of $36.92.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its position in shares of ON by 86.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 716,431 shares of the company’s stock valued at $27,089,000 after acquiring an additional 333,118 shares during the last quarter. Norges Bank bought a new position in shares of ON during the 4th quarter valued at approximately $9,742,000. Credit Suisse AG boosted its position in shares of ON by 31.0% during the 4th quarter. Credit Suisse AG now owns 87,974 shares of the company’s stock valued at $3,326,000 after acquiring an additional 20,816 shares during the last quarter. Jane Street Group LLC bought a new position in shares of ON during the 3rd quarter valued at approximately $667,000. Finally, UBS Group AG bought a new stake in ON in the third quarter worth $629,000. Hedge funds and other institutional investors own 18.45% of the company’s stock.

About ON (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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