Brokerages Expect Owens-Illinois, Inc. (OI) Will Post Earnings of $0.67 Per Share
Equities analysts expect Owens-Illinois, Inc. (NYSE:OI) to report $0.67 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Owens-Illinois’ earnings. The highest EPS estimate is $0.69 and the lowest is $0.64. Owens-Illinois reported earnings per share of $0.65 during the same quarter last year, which indicates a positive year-over-year growth rate of 3.1%. The business is scheduled to report its next quarterly earnings report after the market closes on Monday, July 31st.
According to Zacks, analysts expect that Owens-Illinois will report full-year earnings of $2.52 per share for the current financial year, with EPS estimates ranging from $2.48 to $2.57. For the next fiscal year, analysts forecast that the business will report earnings of $2.70 per share, with EPS estimates ranging from $2.49 to $2.80. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Owens-Illinois.
Owens-Illinois (NYSE:OI) last issued its earnings results on Monday, April 24th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.05. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Owens-Illinois had a net margin of 2.84% and a return on equity of 80.74%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 earnings per share.
A number of analysts have recently weighed in on OI shares. Citigroup Inc. lowered their price target on shares of Owens-Illinois from $28.00 to $24.00 and set an “underweight” rating on the stock in a report on Friday, April 14th. BMO Capital Markets reiterated a “hold” rating and issued a $20.00 target price on shares of Owens-Illinois in a research note on Friday, April 21st. Jefferies Group LLC reiterated a “hold” rating and issued a $20.00 target price (up from $19.00) on shares of Owens-Illinois in a research note on Wednesday, April 26th. Deutsche Bank AG reiterated a “hold” rating and issued a $24.00 target price (up from $20.00) on shares of Owens-Illinois in a research note on Saturday, April 29th. Finally, Barclays PLC lifted their target price on shares of Owens-Illinois from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Monday, May 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Owens-Illinois presently has a consensus rating of “Hold” and an average price target of $26.00.
Shares of Owens-Illinois (OI) traded down 1.08% on Friday, reaching $23.88. 369,411 shares of the company’s stock traded hands. The company has a market cap of $3.89 billion, a PE ratio of 20.52 and a beta of 1.50. Owens-Illinois has a 12-month low of $16.80 and a 12-month high of $25.00. The stock has a 50-day moving average price of $23.72 and a 200-day moving average price of $21.32.
A number of institutional investors have recently bought and sold shares of OI. Acadian Asset Management LLC acquired a new position in Owens-Illinois during the second quarter worth about $113,000. James Investment Research Inc. acquired a new position in Owens-Illinois during the first quarter worth about $149,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in Owens-Illinois by 113.2% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,100 shares of the industrial products company’s stock worth $165,000 after buying an additional 4,300 shares in the last quarter. Private Advisor Group LLC acquired a new position in Owens-Illinois during the first quarter worth about $196,000. Finally, Telemus Capital LLC acquired a new position in Owens-Illinois during the first quarter worth about $202,000. 95.34% of the stock is owned by institutional investors.
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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