Owens-Illinois, Inc. (NYSE:OI) issued an update on its FY17 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $2.60-2.65 for the period, compared to the Thomson Reuters consensus estimate of $2.62.

Shares of Owens-Illinois, Inc. (OI) traded down 1.80% during trading on Monday, hitting $25.13. The stock had a trading volume of 1,138,672 shares. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 18.21 and a beta of 1.49. Owens-Illinois, Inc. has a 52 week low of $16.89 and a 52 week high of $25.90. The company’s 50 day moving average price is $24.92 and its 200 day moving average price is $23.39.

Owens-Illinois (NYSE:OI) last issued its earnings results on Monday, July 31st. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Owens-Illinois had a net margin of 3.36% and a return on equity of 72.15%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 EPS. Analysts predict that Owens-Illinois, Inc. will post $2.63 earnings per share for the current year.

OI has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Owens-Illinois from a hold rating to a buy rating in a research report on Thursday, June 29th. Royal Bank Of Canada restated a hold rating and set a $22.00 price target on shares of Owens-Illinois in a research report on Thursday, July 6th. ValuEngine upgraded shares of Owens-Illinois from a buy rating to a strong-buy rating in a research report on Thursday, July 6th. Jefferies Group LLC reiterated a hold rating and issued a $26.00 target price (up from $20.00) on shares of Owens-Illinois in a research report on Friday, July 14th. Finally, Barclays PLC upped their target price on shares of Owens-Illinois from $22.00 to $25.00 and gave the stock an equal weight rating in a research report on Monday, August 7th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Owens-Illinois presently has an average rating of Hold and an average price target of $25.80.

In other Owens-Illinois news, SVP Moyano Giancarlo Currarino sold 1,360 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $23.97, for a total transaction of $32,599.20. Following the completion of the sale, the senior vice president now directly owns 23,954 shares in the company, valued at $574,177.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Sergio B.O. Galindo sold 5,477 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $24.93, for a total transaction of $136,541.61. Following the sale, the insider now owns 34,890 shares of the company’s stock, valued at $869,807.70. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

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About Owens-Illinois

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.

Earnings History and Estimates for Owens-Illinois (NYSE:OI)

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