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On Holding (ONON) Stock Falls Amid Market Uptick: What Investors Need to Know
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The most recent trading session ended with On Holding (ONON - Free Report) standing at $24.66, reflecting a -1.79% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.43%. At the same time, the Dow added 0.19%, and the tech-heavy Nasdaq gained 0.71%.
The running-shoe and apparel company's shares have seen a decrease of 15.6% over the last month, not keeping up with the Consumer Discretionary sector's loss of 2.8% and the S&P 500's loss of 2.1%.
Market participants will be closely following the financial results of On Holding in its upcoming release. The company's earnings per share (EPS) are projected to be $0.16, reflecting a 128.57% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $515.37 million, up 51.75% from the year-ago period.
ONON's full-year Zacks Consensus Estimates are calling for earnings of $0.52 per share and revenue of $2 billion. These results would represent year-over-year changes of +79.31% and +56.66%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for On Holding. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.25% downward. Currently, On Holding is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, On Holding is currently trading at a Forward P/E ratio of 48.69. Its industry sports an average Forward P/E of 14.25, so one might conclude that On Holding is trading at a premium comparatively.
Meanwhile, ONON's PEG ratio is currently 1.24. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Leisure and Recreation Products industry was having an average PEG ratio of 1.24.
The Leisure and Recreation Products industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 235, finds itself in the bottom 7% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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 (ONON) Stock Falls Amid Market Uptick: What Investors Need to Know
The most recent trading session ended with On Holding (ONON - Free Report) standing at $24.66, reflecting a -1.79% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.43%. At the same time, the Dow added 0.19%, and the tech-heavy Nasdaq gained 0.71%.
The running-shoe and apparel company's shares have seen a decrease of 15.6% over the last month, not keeping up with the Consumer Discretionary sector's loss of 2.8% and the S&P 500's loss of 2.1%.
Market participants will be closely following the financial results of On Holding in its upcoming release. The company's earnings per share (EPS) are projected to be $0.16, reflecting a 128.57% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $515.37 million, up 51.75% from the year-ago period.
ONON's full-year Zacks Consensus Estimates are calling for earnings of $0.52 per share and revenue of $2 billion. These results would represent year-over-year changes of +79.31% and +56.66%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for On Holding. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.25% downward. Currently, On Holding is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, On Holding is currently trading at a Forward P/E ratio of 48.69. Its industry sports an average Forward P/E of 14.25, so one might conclude that On Holding is trading at a premium comparatively.
Meanwhile, ONON's PEG ratio is currently 1.24. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Leisure and Recreation Products industry was having an average PEG ratio of 1.24.
The Leisure and Recreation Products industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 235, finds itself in the bottom 7% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.