-$0.04 Earnings Per Share Expected for On Holding AG (NYSE:ONON) This Quarter

Brokerages expect On Holding AG (NYSE:ONON – Get Rating) to report earnings per share of ($0.04) for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for ON’s earnings, with the lowest EPS estimate coming in at ($0.08) and the highest estimate coming in at $0.00. The company is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that ON will report full year earnings of $0.03 per share for the current fiscal year, with EPS estimates ranging from ($0.06) to $0.14. For the next financial year, analysts forecast that the business will post earnings of $0.29 per share, with EPS estimates ranging from $0.23 to $0.34. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow ON.

ON (NYSE:ONON – Get Rating) last issued its quarterly earnings data on Tuesday, May 17th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.18. The company had revenue of $235.70 million for the quarter, compared to analyst estimates of $170.83 million. The business’s revenue was up 67.9% compared to the same quarter last year.

ONON has been the subject of a number of analyst reports. Wedbush reiterated a “neutral” rating on shares of ON in a research report on Thursday, April 28th. Telsey Advisory Group dropped their price target 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 dropped their price target 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. Berenberg Bank initiated coverage on shares of ON in a research report on Tuesday, April 19th. They issued a “buy” rating and a $31.00 price target for the company. Finally, Zacks Investment Research upgraded shares of ON from a “sell” rating to a “hold” rating in a research report on Saturday, May 21st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, ON has a consensus rating of “Hold” and a consensus price target of $34.33.

ONON stock traded up $1.30 during mid-day trading on Friday, hitting $21.00. 2,859,071 shares of the company were exchanged, compared to its average volume of 2,926,447. The business has a 50 day simple moving average of $23.61 and a 200-day simple moving average of $29.05. ON has a 1-year low of $16.38 and a 1-year high of $55.87.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Point Break Capital Management LLC acquired a new position in ON during the third quarter valued at approximately $1,727,778,000. Durable Capital Partners LP grew its stake in shares of ON by 114.5% during the first quarter. Durable Capital Partners LP now owns 11,028,390 shares of the company’s stock worth $278,357,000 after buying an additional 5,887,034 shares during the last quarter. Luxor Capital Group LP bought a new stake in shares of ON during the third quarter worth $183,915,000. Bond Capital Management LP bought a new stake in shares of ON during the first quarter worth $142,069,000. Finally, Wellington Management Group LLP bought a new stake in shares of ON during the third quarter worth $125,194,000. Institutional investors and hedge funds 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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