Why ON Semiconductor Corp. (ON) Could Beat Earnings Estimates Again

What happened: ON Semiconductor Corp. (ON) has beaten earnings estimates in its last two reports and has a positive Zacks Earnings ESP ahead of its upcoming report. Key numbers: Last two quarters beat by 2.78% ($0.74 vs $0.72) and 4.92% ($0.64 vs $0.61), averaging 3.85%. Earnings ESP is +5.20%. Zacks Rank #3 (Hold). Why it matters: The article states that a positive Earnings ESP combined with a Zacks Rank #3 or better produces a positive surprise nearly 70% of the time, suggesting another beat is possible.

ON Semiconductor Corp. (ON) has beaten earnings estimates in its last two reports and has a positive Zacks Earnings ESP ahead of its upcoming report.

The article states that a positive Earnings ESP combined with a Zacks Rank #3 or better produces a positive surprise nearly 70% of the time, suggesting another beat is possible.