Brokers Issue Forecasts for Owens-Illinois Inc’s Q1 2018 Earnings (OI)

Owens-Illinois Inc (NYSE:OI) – Equities researchers at KeyCorp issued their Q1 2018 EPS estimates for Owens-Illinois in a research note issued on Wednesday. KeyCorp analyst A. Josephson forecasts that the industrial products company will earn $0.58 per share for the quarter. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Owens-Illinois’ Q2 2018 earnings at $0.76 EPS, Q3 2018 earnings at $0.83 EPS, Q4 2018 earnings at $0.63 EPS, FY2018 earnings at $2.80 EPS and FY2019 earnings at $2.88 EPS.

Owens-Illinois (NYSE:OI) last released its earnings results on Tuesday, February 6th. The industrial products company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Owens-Illinois had a net margin of 2.65% and a return on equity of 53.60%. Owens-Illinois’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the business earned $0.50 EPS.

OI has been the subject of a number of other reports. Royal Bank of Canada set a $27.00 target price on shares of Owens-Illinois and gave the stock a “hold” rating in a research note on Tuesday, October 17th. Bank of America lifted their target price on shares of Owens-Illinois from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Robert W. Baird lifted their target price on shares of Owens-Illinois from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Zacks Investment Research upgraded shares of Owens-Illinois from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. Finally, ValuEngine upgraded shares of Owens-Illinois from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $26.42.

Shares of Owens-Illinois (OI) opened at $21.43 on Friday. The company has a market cap of $3,673.82, a P/E ratio of 19.48, a P/E/G ratio of 1.21 and a beta of 1.46. The company has a debt-to-equity ratio of 5.52, a current ratio of 1.06 and a quick ratio of 0.74. Owens-Illinois has a 12 month low of $19.12 and a 12 month high of $25.90.

Owens-Illinois declared that its board has authorized a stock repurchase plan on Tuesday, February 6th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently made changes to their positions in OI. Alliancebernstein L.P. lifted its stake in Owens-Illinois by 9.6% during the 2nd quarter. Alliancebernstein L.P. now owns 109,724 shares of the industrial products company’s stock valued at $2,625,000 after acquiring an additional 9,650 shares during the period. Northern Trust Corp increased its holdings in shares of Owens-Illinois by 0.3% during the 2nd quarter. Northern Trust Corp now owns 1,506,408 shares of the industrial products company’s stock valued at $36,034,000 after purchasing an additional 4,383 shares in the last quarter. FMR LLC increased its holdings in shares of Owens-Illinois by 37.4% during the 2nd quarter. FMR LLC now owns 1,446,740 shares of the industrial products company’s stock valued at $34,606,000 after purchasing an additional 393,560 shares in the last quarter. Suntrust Banks Inc. increased its holdings in shares of Owens-Illinois by 8.4% during the 2nd quarter. Suntrust Banks Inc. now owns 16,604 shares of the industrial products company’s stock valued at $395,000 after purchasing an additional 1,290 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Owens-Illinois by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,437,844 shares of the industrial products company’s stock valued at $34,393,000 after purchasing an additional 70,084 shares in the last quarter. Institutional investors and hedge funds own 94.88% of the company’s stock.

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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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