ON Semiconductor Corp. (ON) retreated -0.5% to reach at the floor price of $10.02 as the company is set to share its next quarterly earnings on July 28, 2016. ON stock trades between $9.97 and $10.13 before the earnings release. Let’s take a closer look at the June 2016 earnings estimates, particularly the things investors should pay close attention to. Earnings (EPS) for the recently concluded quarter is projected to come in at $0.19/share with $854.89M in revenue.
Earnings Track Record: If history is anything to go by, ON Semiconductor Corp. (ON) managed to beat quarterly EPS forecasts in 7 of the trailing three fiscal years, and has a positive trend with an average surprise of 58.%. Last time the company reported, ON Semiconductor Corp. generated $0.17 in earnings per share, surpassing the mean forecast of $0.15. Revenues reached $817.2M in the March 2016 quarter, which was lower than the consensus $820.25M projection. On the other hand, in the December 2015 quarter it recorded a net $840.3M revenue with EPS of $0.19. Wall Street had projected $850.25M and $0.19, respectively. For comparison, there was a revenue of $904.2M and earnings of $0.23 in the September 2015 quarter.
Future Earnings: After upcoming financial results, all eyes will be on the outlook or guidance for the next reporting quarter (September 2016). Analysts, on average, predict ON Semiconductor Corp. to earn $0.24 in earnings per share (EPS) on revenue of $854.89M. The earnings-per-share consensus range is $0.19-$0.28 on sales between $849.4M and $857.68M.
Stock Trend vs. Analyst View: The stock is trading up 43.76 percent versus 1-year low of $6.97 and stands -23.04 lower from its peak of $12.83. The consensus price target of $11.67 means that the market expects Company shares to increase by 16.47% in the short run. The sell-side target prices range from $9.5 to $14. In the last month the stock has moved in price 9.99%, with a one year change of -19.65%. The last trading session volume compares with the 3.47M average and market worth floats around $4.18B.
Recent Analyst Rating Changes: The buoyancy in the prospect of ON Semiconductor Corp. (ON) is getting weaker by the somewhat negative sentiment (2.2 on a 5-point scale) that brokerage firms have issued concerning it. Wall Street analysts on the average recommend the company shares as Overweight. Credit Agricole has been covering shares of ON, so it’s most recent view is worth a look. In a research note released on May 25, 2016, analysts at Credit Agricole issued its first rating on the stock at Outperform. Another noteworthy analyst activity was recorded on November 19, 2015. Citigroup analysts lifted the stock to Buy from Neutral.