On Holding AG (NYSE:ONON – Free Report) – Analysts at KeyCorp issued their Q2 2023 earnings per share (EPS) estimates for shares of ON in a research note issued on Tuesday, July 25th. KeyCorp analyst A. Owens expects that the company will post earnings per share of $0.11 for the quarter. KeyCorp currently has a “Overweight” rating and a $42.00 target price on the stock. The consensus estimate for ON’s current full-year earnings is $0.47 per share. KeyCorp also issued estimates for ON’s Q3 2023 earnings at $0.15 EPS, Q4 2023 earnings at $0.13 EPS, FY2023 earnings at $0.54 EPS, Q1 2024 earnings at $0.17 EPS, Q2 2024 earnings at $0.16 EPS, Q3 2024 earnings at $0.20 EPS, Q4 2024 earnings at $0.17 EPS, FY2024 earnings at $0.70 EPS and FY2025 earnings at $1.00 EPS.
ONON has been the subject of a number of other reports. UBS Group lifted their target price on ON from $39.00 to $42.00 in a research note on Wednesday, May 17th. 51job reiterated a “maintains” rating on shares of ON in a research report on Wednesday, May 17th. Williams Trading downgraded ON from a “hold” rating to a “sell” rating in a research report on Wednesday, May 17th. Morgan Stanley reiterated an “overweight” rating and set a $34.00 price objective on shares of ON in a research report on Monday. Finally, Bank of America boosted their price objective on ON from $16.50 to $19.30 and gave the stock an “underweight” rating in a research report on Monday, April 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.66.
ON Stock Down 6.4 %
ON (NYSE:ONON – Get Free Report) last issued its quarterly earnings results on Tuesday, May 16th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.07. The firm had revenue of $420.20 million for the quarter, compared to the consensus estimate of $381.62 million. ON had a return on equity of 8.78% and a net margin of 6.13%. The company’s revenue for the quarter was up 78.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 earnings per share.
Institutional Investors Weigh In On ON
Hedge funds have recently bought and sold shares of the company. Belpointe Asset Management LLC boosted its holdings in ON by 75.3% during the first quarter. Belpointe Asset Management LLC now owns 1,057 shares of the company’s stock valued at $33,000 after acquiring an additional 454 shares during the period. US Bancorp DE boosted its holdings in ON by 32.7% during the first quarter. US Bancorp DE now owns 1,417 shares of the company’s stock valued at $44,000 after acquiring an additional 349 shares during the period. National Bank of Canada FI boosted its holdings in ON by 646.5% during the second quarter. National Bank of Canada FI now owns 1,493 shares of the company’s stock valued at $49,000 after acquiring an additional 1,293 shares during the period. HBK Sorce Advisory LLC boosted its holdings in ON by 100.0% during the fourth quarter. HBK Sorce Advisory LLC now owns 70,000 shares of the company’s stock valued at $55,000 after acquiring an additional 35,000 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its holdings in ON by 70.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,009 shares of the company’s stock valued at $85,000 after acquiring an additional 2,071 shares during the period. 17.48% of the stock is currently owned by institutional investors.
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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