Owens-Illinois (OI) Posts Quarterly Results
Owens-Illinois (NYSE:OI) released its earnings data on Wednesday. The company reported $0.80 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.82 by $0.02, AnalystRatings.NET reports. 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.
Shares of Owens-Illinois (NYSE:OI) opened at 32.45 on Wednesday. Owens-Illinois has a 52 week low of $28.29 and a 52 week high of $35.95. The stock’s 50-day moving average is $33.90 and its 200-day moving average is $33.16. The company has a market cap of $5.357 billion and a P/E ratio of 25.09.
A number of analysts have recently weighed in on OI shares. 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 given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $37.10.
Owens-Illinois, Inc is a manufacturer of glass containers with 81 glass manufacturing plants in 21 countries.
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