Owens-Illinois (OI) Releases Quarterly Earnings Results
Owens-Illinois (NYSE:OI) posted its quarterly earnings results on Thursday. The company reported $0.79 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.77 by $0.02, Stock Ratings News reports. The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the company posted $0.69 earnings per share. Owens-Illinois’s revenue was up 2.1% compared to the same quarter last year.
Owens-Illinois (NYSE:OI) opened at 30.57 on Thursday. Owens-Illinois has a one year low of $16.82 and a one year high of $30.94. The stock has a 50-day moving average of $30.19 and a 200-day moving average of $28.78. The company has a market cap of $5.024 billion and a price-to-earnings ratio of 38.83.
A number of analysts have recently weighed in on OI shares. Analysts at Zacks reiterated a “neutral” rating on shares of Owens-Illinois in a research note to investors on Wednesday, October 16th. They now have a $31.00 price target on the stock. On the ratings front, analysts at Wells Fargo & Co. downgraded shares of Owens-Illinois from a “priority list” rating to an “outperform” rating in a research note to investors on Tuesday, October 8th. Finally, analysts at JPMorgan Chase & Co. upgraded shares of Owens-Illinois from a “neutral” rating to an “overweight” rating in a research note to investors on Tuesday, September 3rd. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Owens-Illinois presently has an average rating of “Buy” and a consensus target price of $32.29.
Owens-Illinois, Inc is a manufacturer of glass containers with 81 glass manufacturing plants in 21 countries.
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