ON (ONON) Set to Announce Quarterly Earnings on Tuesday

ON (NYSE:ONON) will be announcing its earnings results before the market opens on Tuesday, May 14th. Analysts expect the company to announce earnings of $0.16 per share for the quarter. ON has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). The firm had revenue of $504.69 million for the quarter, compared to the consensus estimate of $515.30 million. ON had a net margin of 4.04% and a return on equity of 6.85%. On average, analysts expect ON to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

ON Trading Down 0.4 %

Shares of ONON stock opened at $33.92 on Tuesday. The stock has a fifty day simple moving average of $33.26 and a two-hundred day simple moving average of $29.99. The stock has a market capitalization of $21.36 billion, a price-to-earnings ratio of 126.11, a P/E/G ratio of 1.16 and a beta of 2.17. ON has a twelve month low of $23.41 and a twelve month high of $37.08.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Evercore ISI cut their price objective on shares of ON from $40.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, March 13th. William Blair started coverage on ON in a research note on Tuesday, April 16th. They set an “outperform” rating for the company. Truist Financial lifted their price objective on shares of ON from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, March 13th. Stifel Nicolaus reiterated a “buy” rating and set a $40.00 price objective on shares of ON in a report on Tuesday, March 5th. Finally, Redburn Atlantic reiterated a “neutral” rating and set a $34.00 price target on shares of ON in a research note on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, ON has an average rating of “Moderate Buy” and an average target price of $37.53.

About ON

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.