On Holding AG (NYSE:ONON – Free Report) – Stock analysts at Wedbush raised their Q3 2023 earnings per share estimates for ON in a research report issued to clients and investors on Monday, November 13th. Wedbush analyst T. Nikic now anticipates that the company will post earnings per share of $0.16 for the quarter, up from their previous estimate of $0.14. Wedbush currently has a “Outperform” rating and a $36.00 price target on the stock. The consensus estimate for ON’s current full-year earnings is $0.40 per share. Wedbush also issued estimates for ON’s Q4 2023 earnings at $0.13 EPS, FY2023 earnings at $0.48 EPS, Q1 2024 earnings at $0.17 EPS and FY2024 earnings at $0.79 EPS.
ON (NYSE:ONON – Get Free Report) last issued its quarterly earnings data on Tuesday, November 14th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. The company had revenue of $480.50 million for the quarter, compared to analysts’ expectations of $453.31 million. ON had a return on equity of 3.98% and a net margin of 2.59%. The firm’s revenue for the quarter was up 46.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 earnings per share.
ON Stock Performance
NYSE:ONON opened at $27.77 on Wednesday. The stock’s fifty day moving average is $26.88 and its 200 day moving average is $29.78. The firm has a market capitalization of $17.42 billion, a PE ratio of 198.36, a PEG ratio of 1.71 and a beta of 2.23. ON has a fifty-two week low of $15.91 and a fifty-two week high of $37.08.
Institutional Trading of ON
Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in ON in the second quarter worth about $795,000. Sei Investments Co. grew its position in ON by 197.7% during the 1st quarter. Sei Investments Co. now owns 429,556 shares of the company’s stock worth $13,329,000 after purchasing an additional 285,268 shares during the last quarter. Sigma Planning Corp increased its stake in ON by 32.3% during the 2nd quarter. Sigma Planning Corp now owns 47,459 shares of the company’s stock valued at $1,566,000 after purchasing an additional 11,589 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of ON by 1,590.8% in the first quarter. Tower Research Capital LLC TRC now owns 3,111 shares of the company’s stock worth $97,000 after buying an additional 2,927 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of ON by 30.1% during the second quarter. China Universal Asset Management Co. Ltd. now owns 150,143 shares of the company’s stock worth $4,955,000 after buying an additional 34,719 shares during the period. 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.
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