Yahoo Finance On Holding (ONON) Outpaces Stock Market Gains: What You Should Know
On Holding (ONON) closed the most recent trading day at $34.37, moving +1.36% from the previous trading session. This change outpaced the S&P 500's 0.05% gain on the day. At the same time, the Dow lost 0.17%, and the tech-heavy Nasdaq gained 6.02%.
Heading into today, shares of the running-shoe and apparel company had gained 15.42% over the past month, outpacing the Consumer Discretionary sector's gain of 1.01% and the S&P 500's gain of 1.18% in that time.
Wall Street will be looking for positivity from On Holding as it approaches its next earnings report date. This is expected to be May 16, 2023. In that report, analysts expect On Holding to post earnings of $0.09 per share. This would mark year-over-year growth of 80%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $411.42 million, up 61.23% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.54 per share and revenue of $1.87 billion. These totals would mark changes of +86.21% and +46.37%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for On Holding. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.77% higher within the past month. On Holding currently has a Zacks Rank of #3 (Hold).
In terms of valuation, On Holding is currently trading at a Forward P/E ratio of 62.8. This valuation marks a premium compared to its industry's average Forward P/E of 10.31.
It is also worth noting that ONON currently has a PEG ratio of 1.66. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Leisure and Recreation Products industry currently had an average PEG ratio of 1.38 as of yesterday's close.
The Leisure and Recreation Products industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 173, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ONON in the coming trading sessions, be sure to utilize Zacks.com.
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On Holding AG (ONON) : Free Stock Analysis Report
