Owens-Illinois Inc (OI) Releases FY14 Earnings Guidance
Owens-Illinois Inc (NYSE:OI) updated its FY14 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.85-3.05 for the period, compared to the Thomson Reuters consensus estimate of $2.96, Stock Ratings News reports.
Shares of Owens-Illinois Inc (NYSE:OI) traded down 1.04% during mid-day trading on Tuesday, hitting $32.45. 853,986 shares of the company’s stock traded hands. Owens-Illinois Inc has a one year low of $28.29 and a one year high of $35.95. The stock’s 50-day moving average is $33.93 and its 200-day moving average is $33.18. The company has a market cap of $5.357 billion and a price-to-earnings ratio of 25.09.
Owens-Illinois (NYSE:OI) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.80 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.82 by $0.02. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the company posted $0.81 earnings per share. Owens-Illinois’s revenue was up .9% compared to the same quarter last year. On average, analysts predict that Owens-Illinois Inc will post $2.97 earnings per share for the current fiscal year.
OI has been the subject of a number of recent research reports. Analysts at Jefferies Group raised their price target on shares of Owens-Illinois from $39.00 to $42.00 in a research note on Friday, July 11th. They now have a buy rating on the stock. Finally, analysts at S&P Equity Research upgraded shares of Owens-Illinois to a strong-buy rating in a research note on Wednesday, June 18th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $37.10.
Owens-Illinois, Inc is a manufacturer of glass containers with 81 glass manufacturing plants in 21 countries.
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