Owens-Illinois Inc. (OI) Updates FY13 Earnings Guidance
Owens-Illinois Inc. (NYSE:OI) issued an update on its FY13 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.65-2.85 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.75, AR Network reports.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. upgraded shares of Owens-Illinois (NYSE:OI) from a neutral rating to an overweight rating in a research note to investors on Tuesday, September 3rd. On a related note, analysts at Northcoast Research initiated coverage on shares of Owens-Illinois (NYSE:OI) in a research note to investors on Friday, August 23rd. They set a buy rating on the stock. Finally, analysts at Zacks reiterated a neutral rating on shares of Owens-Illinois (NYSE:OI) in a research note to investors on Friday, July 26th. They now have a $30.00 price target on the stock.
Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Owens-Illinois presently has an average rating of Buy and a consensus price target of $30.89.
Owens-Illinois Inc. (NYSE:OI) opened at 30.80 on Wednesday. Owens-Illinois Inc. has a 1-year low of $18.32 and a 1-year high of $30.94. The stock’s 50-day moving average is $29.74 and its 200-day moving average is $27.75. The company has a market cap of $5.062 billion and a P/E ratio of 39.04.
Owens-Illinois (NYSE:OI) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.81 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.80 by $0.01. The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter last year, the company posted $0.81 earnings per share. Owens-Illinois’s revenue was up .8% compared to the same quarter last year. Analysts expect that Owens-Illinois Inc. will post $2.75 EPS for the current fiscal year.
Owens-Illinois, Inc is a manufacturer of glass containers with 81 glass manufacturing plants in 21 countries.
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