$0.74 Earnings Per Share Expected for Owens-Illinois, Inc. (OI) This Quarter
Equities analysts expect Owens-Illinois, Inc. (NYSE:OI) to announce $0.74 earnings per share for the current quarter, according to Zacks. Six analysts have made estimates for Owens-Illinois’ earnings, with the highest EPS estimate coming in at $0.75 and the lowest estimate coming in at $0.73. Owens-Illinois reported earnings per share of $0.68 in the same quarter last year, which indicates a positive year over year growth rate of 8.8%. The business is scheduled to announce its next quarterly earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that Owens-Illinois will report full-year earnings of $2.63 per share for the current financial year, with EPS estimates ranging from $2.60 to $2.65. For the next fiscal year, analysts expect that the company will report earnings of $2.80 per share, with EPS estimates ranging from $2.68 to $2.95. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Owens-Illinois.
Owens-Illinois (NYSE:OI) last announced its earnings results on Monday, July 31st. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.08. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.77 billion. Owens-Illinois had a return on equity of 72.15% and a net margin of 3.36%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS.
A number of research firms have recently commented on OI. BidaskClub cut Owens-Illinois from a “hold” rating to a “sell” rating in a research report on Saturday. Barclays PLC lifted their target price on Owens-Illinois from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Monday, August 7th. Jefferies Group LLC reiterated a “hold” rating and set a $27.00 target price (up previously from $26.00) on shares of Owens-Illinois in a research report on Wednesday, August 2nd. BMO Capital Markets reiterated a “hold” rating and set a $20.00 target price on shares of Owens-Illinois in a research report on Friday, April 21st. Finally, ValuEngine cut Owens-Illinois from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Owens-Illinois presently has a consensus rating of “Hold” and an average target price of $24.75.
Several institutional investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its position in Owens-Illinois by 104.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,635 shares of the industrial products company’s stock worth $110,000 after buying an additional 2,366 shares in the last quarter. Acadian Asset Management LLC bought a new position in Owens-Illinois during the second quarter worth about $113,000. Acrospire Investment Management LLC raised its position in Owens-Illinois by 163.8% in the second quarter. Acrospire Investment Management LLC now owns 6,714 shares of the industrial products company’s stock worth $161,000 after buying an additional 4,169 shares in the last quarter. Flinton Capital Management LLC raised its position in Owens-Illinois by 74.4% in the second quarter. Flinton Capital Management LLC now owns 7,200 shares of the industrial products company’s stock worth $172,000 after buying an additional 3,072 shares in the last quarter. Finally, James Investment Research Inc. bought a new position in Owens-Illinois during the first quarter worth about $149,000. 94.79% of the stock is currently owned by hedge funds and other institutional investors.
Owens-Illinois (NYSE OI) traded up 0.13% during mid-day trading on Tuesday, reaching $24.00. The company’s stock had a trading volume of 648,248 shares. The firm has a market cap of $3.91 billion, a PE ratio of 17.39 and a beta of 1.50. The stock’s 50 day moving average is $24.16 and its 200 day moving average is $21.77. Owens-Illinois has a one year low of $16.80 and a one year high of $25.02.
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Owens-Illinois Company Profile
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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