Owens-Illinois Inc. (OI) Updates FY14 Earnings Guidance
Owens-Illinois Inc. (NYSE:OI) issued an update on its FY14 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.80-3.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.13, ARN reports.
Shares of Owens-Illinois Inc. (NYSE:OI) traded up 1.57% during mid-day trading on Tuesday, hitting $32.30. 1,238,453 shares of the company’s stock traded hands. Owens-Illinois Inc. has a one year low of $22.56 and a one year high of $35.95. The stock has a 50-day moving average of $34. and a 200-day moving average of $31.50. The company has a market cap of $5.328 billion and a price-to-earnings ratio of 31.18.
Owens-Illinois (NYSE:OI) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.51 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.53 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts predict that Owens-Illinois Inc. will post $2.73 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a neutral rating on shares of Owens-Illinois in a research note to investors on Thursday, January 23rd. They now have a $35.00 price target on the stock. On a related note, analysts at Bank of America Corp. downgraded shares of Owens-Illinois from a buy rating to a neutral rating in a research note to investors on Friday, January 3rd. Finally, analysts at Goldman Sachs Group Inc. downgraded shares of Owens-Illinois from a buy rating to a neutral rating in a research note to investors on Wednesday, December 11th. They now have a $35.00 price target on the stock. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $35.00.
Owens-Illinois, Inc is a manufacturer of glass containers with 81 glass manufacturing plants in 21 countries.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.