Owens-Illinois, Inc. (OI) Issues Earnings Results
Owens-Illinois, Inc. (NYSE:OI) released its earnings results on Tuesday. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04, Bloomberg Earnings reports. The firm had revenue of $1.80 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 company’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 EPS.
Owens-Illinois (NYSE OI) opened at 25.13 on Tuesday. Owens-Illinois 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 $23.47. The company has a market cap of $4.09 billion, a P/E ratio of 18.21 and a beta of 1.49.
In other Owens-Illinois news, SVP Moyano Giancarlo Currarino sold 1,360 shares of the company’s stock in a transaction on Friday, September 8th. The stock was 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sergio B.O. Galindo sold 5,477 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $24.93, for a total value 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 owned by corporate insiders.
A number of brokerages have commented on OI. Royal Bank Of Canada set a $27.00 price objective on Owens-Illinois and gave the stock a “hold” rating in a research report on Tuesday, October 17th. BidaskClub downgraded Owens-Illinois from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. ValuEngine upgraded Owens-Illinois from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 13th. Jefferies Group LLC reiterated a “hold” rating and issued a $27.00 price objective (up previously from $26.00) on shares of Owens-Illinois in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded Owens-Illinois from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Owens-Illinois presently has an average rating of “Hold” and a consensus target price of $25.80.
ILLEGAL ACTIVITY NOTICE: This story was reported by American Banking News and is the property of of American Banking News. If you are reading this story on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this story can be read at https://www.americanbankingnews.com/2017/10/24/owens-illinois-inc-oi-issues-earnings-results.html.
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.
Receive News & Ratings for Owens-Illinois Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens-Illinois Inc. and related companies with MarketBeat.com's FREE daily email newsletter.