ON (ONON) Scheduled to Post Quarterly Earnings on Tuesday

ON (NYSE:ONON) is set to issue its quarterly earnings data before the market opens on Tuesday, November 14th. Analysts expect the company to announce earnings of $0.16 per share for the quarter. ON has set its FY 2023 guidance at EPS.Parties interested in registering for the company’s conference call can do so using this link.

ON (NYSE:ONON) last issued its quarterly earnings data on Tuesday, August 15th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The business had revenue of $444.30 million during the quarter, compared to the consensus estimate of $418.09 million. ON had a return on equity of 3.98% and a net margin of 2.59%. The company’s revenue for the quarter was up 52.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.16 earnings per share. On average, analysts expect ON to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

ON Trading Down 0.3 %

Shares of NYSE:ONON opened at $26.90 on Friday. The stock has a market capitalization of $16.88 billion, a PE ratio of 192.14, a P/E/G ratio of 1.74 and a beta of 2.23. ON has a 1 year low of $15.91 and a 1 year high of $37.08. The firm has a fifty day moving average price of $27.02 and a 200 day moving average price of $29.89.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of ON from $41.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, August 17th. Telsey Advisory Group upped their price target on shares of ON from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, August 11th. Evercore ISI assumed coverage on shares of ON in a report on Tuesday, November 7th. They set an “outperform” rating and a $38.00 price target for the company. Redburn Atlantic assumed coverage on shares of ON in a report on Tuesday, October 24th. They set an “overweight” rating and a $33.00 price target for the company. Finally, TD Cowen decreased their price target on shares of ON from $38.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.21.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ONON. Belpointe Asset Management LLC grew its stake in ON by 75.3% during the first quarter. Belpointe Asset Management LLC now owns 1,057 shares of the company’s stock worth $33,000 after buying an additional 454 shares during the last quarter. NewEdge Advisors LLC grew its stake in ON by 86.5% during the first quarter. NewEdge Advisors LLC now owns 3,140 shares of the company’s stock worth $97,000 after buying an additional 1,456 shares during the last quarter. Advisory Services Network LLC grew its stake in ON by 257.7% during the first quarter. Advisory Services Network LLC now owns 3,398 shares of the company’s stock worth $105,000 after buying an additional 2,448 shares during the last quarter. State of Wyoming bought a new stake in ON during the second quarter worth about $126,000. Finally, Rockefeller Capital Management L.P. grew its stake in ON by 70.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,009 shares of the company’s stock worth $85,000 after buying an additional 2,071 shares during the last quarter. Institutional investors and hedge funds own 18.64% of the company’s stock.

ON Company Profile

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. The company was founded in 2010 and is headquartered in Zurich, Switzerland.