Jefferies Group Analysts Increase Earnings Estimates for Owens-Illinois, Inc. (NYSE:OI)
Owens-Illinois, Inc. (NYSE:OI) – Investment analysts at Jefferies Group lifted their FY2017 earnings per share (EPS) estimates for shares of Owens-Illinois in a report released on Friday. Jefferies Group analyst P. Ng now anticipates that the industrial products company will post earnings per share of $2.51 for the year, up from their previous estimate of $2.48. Jefferies Group has a “Hold” rating and a $26.00 price objective on the stock. Jefferies Group also issued estimates for Owens-Illinois’ FY2018 earnings at $2.76 EPS.
OI has been the topic of a number of other reports. Royal Bank Of Canada reiterated a “hold” rating and set a $24.00 price target on shares of Owens-Illinois in a research note on Friday. BidaskClub upgraded shares of Owens-Illinois from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. ValuEngine upgraded shares of Owens-Illinois from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Finally, Zacks Investment Research lowered shares of Owens-Illinois from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $26.00.
Shares of Owens-Illinois (OI) opened at 24.78 on Monday. The stock’s 50 day moving average price is $22.66 and its 200-day moving average price is $20.47. The firm has a market capitalization of $4.03 billion, a PE ratio of 21.29 and a beta of 1.50. Owens-Illinois has a 52-week low of $16.80 and a 52-week high of $25.00.
Owens-Illinois (NYSE:OI) last posted its earnings results on Monday, April 24th. The industrial products company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.05. Owens-Illinois had a return on equity of 80.74% and a net margin of 2.84%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period last year, the firm earned $0.48 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently modified their holdings of OI. Norges Bank bought a new position in shares of Owens-Illinois during the fourth quarter valued at $26,472,000. Canada Pension Plan Investment Board raised its position in shares of Owens-Illinois by 79.0% in the first quarter. Canada Pension Plan Investment Board now owns 110,100 shares of the industrial products company’s stock valued at $2,244,000 after buying an additional 48,600 shares during the last quarter. State Treasurer State of Michigan raised its position in shares of Owens-Illinois by 0.9% in the first quarter. State Treasurer State of Michigan now owns 65,900 shares of the industrial products company’s stock valued at $1,343,000 after buying an additional 600 shares during the last quarter. James Investment Research Inc. bought a new position in shares of Owens-Illinois during the first quarter valued at $149,000. Finally, BlackRock Inc. raised its position in shares of Owens-Illinois by 16,329.5% in the first quarter. BlackRock Inc. now owns 14,655,477 shares of the industrial products company’s stock valued at $298,679,000 after buying an additional 14,566,275 shares during the last quarter. Institutional investors own 95.24% of the company’s stock.
Owens-Illinois, Inc is a manufacturer of glass container products. The Company’s principal product lines are glass containers for the food and beverage industries. The Company’s segments include Europe, North America, Latin America and Asia Pacific. The Company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine.
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