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On Holding (ONON) Outperforms Broader Market: What You Need to Know
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In the latest trading session, On Holding (ONON - Free Report) closed at $26.02, marking a +1.8% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.73%. Meanwhile, the Dow experienced a rise of 0.62%, and the technology-dominated Nasdaq saw an increase of 0.93%.
Heading into today, shares of the running-shoe and apparel company had lost 6.44% over the past month, lagging the Consumer Discretionary sector's loss of 1.02% and the S&P 500's loss of 2.29% in that time.
The upcoming earnings release of On Holding will be of great interest to investors. The company's earnings per share (EPS) are projected to be $0.16, reflecting a 128.57% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $515.37 million, indicating a 51.75% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.52 per share and a revenue of $2 billion, indicating changes of +79.31% and +56.66%, respectively, from the former year.
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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.25% downward. At present, On Holding boasts a Zacks Rank of #5 (Strong Sell).
Investors should also note On Holding's current valuation metrics, including its Forward P/E ratio of 49.56. This represents a premium compared to its industry's average Forward P/E of 14.6.
Meanwhile, ONON's PEG ratio is currently 1.27. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Leisure and Recreation Products industry currently had an average PEG ratio of 1.27 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 242, which puts it in the bottom 4% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) Outperforms Broader Market: What You Need to Know
In the latest trading session, On Holding (ONON - Free Report) closed at $26.02, marking a +1.8% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.73%. Meanwhile, the Dow experienced a rise of 0.62%, and the technology-dominated Nasdaq saw an increase of 0.93%.
Heading into today, shares of the running-shoe and apparel company had lost 6.44% over the past month, lagging the Consumer Discretionary sector's loss of 1.02% and the S&P 500's loss of 2.29% in that time.
The upcoming earnings release of On Holding will be of great interest to investors. The company's earnings per share (EPS) are projected to be $0.16, reflecting a 128.57% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $515.37 million, indicating a 51.75% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.52 per share and a revenue of $2 billion, indicating changes of +79.31% and +56.66%, respectively, from the former year.
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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.25% downward. At present, On Holding boasts a Zacks Rank of #5 (Strong Sell).
Investors should also note On Holding's current valuation metrics, including its Forward P/E ratio of 49.56. This represents a premium compared to its industry's average Forward P/E of 14.6.
Meanwhile, ONON's PEG ratio is currently 1.27. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Leisure and Recreation Products industry currently had an average PEG ratio of 1.27 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 242, which puts it in the bottom 4% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.