Wall Street analysts expect Owens-Illinois Inc (NYSE:OI) to post $1.73 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Owens-Illinois’ earnings. The highest sales estimate is $1.75 billion and the lowest is $1.69 billion. Owens-Illinois reported sales of $1.64 billion during the same quarter last year, which indicates a positive year over year growth rate of 5.5%. The company is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, February 6th.
On average, analysts expect that Owens-Illinois will report full year sales of $1.73 billion for the current financial year, with estimates ranging from $6.80 billion to $6.90 billion. For the next fiscal year, analysts forecast that the company will post sales of $7.02 billion per share, with estimates ranging from $6.87 billion to $7.13 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Owens-Illinois.
Owens-Illinois (NYSE:OI) last issued its earnings results on Monday, October 23rd. The industrial products company reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.04. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Owens-Illinois had a net margin of 3.59% and a return on equity of 63.33%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share.
In related news, insider Timothy M. Connors sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $23.86, for a total value of $83,510.00. Following the completion of the sale, the insider now owns 19,624 shares in the company, valued at approximately $468,228.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the stock. Advisor Group Inc. lifted its position in shares of Owens-Illinois by 0.9% in the 2nd quarter. Advisor Group Inc. now owns 16,417 shares of the industrial products company’s stock valued at $393,000 after acquiring an additional 150 shares in the last quarter. First Allied Advisory Services Inc. lifted its position in Owens-Illinois by 2.4% in the 2nd quarter. First Allied Advisory Services Inc. now owns 11,600 shares of the industrial products company’s stock worth $277,000 after buying an additional 270 shares in the last quarter. Moors & Cabot Inc. lifted its position in Owens-Illinois by 1.5% in the 2nd quarter. Moors & Cabot Inc. now owns 30,050 shares of the industrial products company’s stock worth $724,000 after buying an additional 450 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Owens-Illinois by 0.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 131,323 shares of the industrial products company’s stock worth $3,140,000 after buying an additional 479 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its position in Owens-Illinois by 1.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 48,688 shares of the industrial products company’s stock worth $1,165,000 after buying an additional 875 shares in the last quarter. Institutional investors and hedge funds own 93.58% of the company’s stock.
Shares of Owens-Illinois (NYSE:OI) traded up $0.17 during trading hours on Friday, reaching $22.44. 1,445,340 shares of the company were exchanged, compared to its average volume of 1,404,333. The company has a market capitalization of $3,630.00, a PE ratio of 15.06, a price-to-earnings-growth ratio of 1.16 and a beta of 1.53. Owens-Illinois has a 1 year low of $18.39 and a 1 year high of $25.90. The company has a quick ratio of 0.74, a current ratio of 1.23 and a debt-to-equity ratio of 5.73.
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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