Owens-Illinois Coverage Initiated at Jefferies Group (OI)
Equities research analysts at Jefferies Group assumed coverage on shares of Owens-Illinois (NYSE:OI) in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “hold” rating on the stock.
Owens-Illinois (NYSE:OI) traded down 0.37% on Wednesday, hitting $34.60. 167,407 shares of the company’s stock traded hands. Owens-Illinois has a 52-week low of $27.69 and a 52-week high of $35.95. The stock’s 50-day moving average is $33.50 and its 200-day moving average is $33.33. The company has a market cap of $5.712 billion and a price-to-earnings ratio of 26.57.
Owens-Illinois (NYSE:OI) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. On average, analysts predict that Owens-Illinois will post $2.97 earnings per share for the current fiscal year.
A number of other firms have also recently commented on OI. Analysts at S&P Equity Research upgraded shares of Owens-Illinois to a “strong-buy” rating in a research note on Wednesday, June 18th. Separately, analysts at Bank of America upgraded shares of Owens-Illinois from a “neutral” rating to a “buy” rating in a research note on Friday, June 13th. They now have a $38.00 price target on the stock. Finally, analysts at Citigroup Inc. cut their price target on shares of Owens-Illinois from $37.00 to $36.00 in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $36.56.
Owens-Illinois, Inc is a manufacturer of glass containers with 81 glass manufacturing plants in 21 countries.
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