Owens-Illinois Inc (OI) Expected to Announce Earnings of $0.75 Per Share

Brokerages predict that Owens-Illinois Inc (NYSE:OI) will report earnings of $0.75 per share for the current quarter, Zacks reports. Five analysts have made estimates for Owens-Illinois’ earnings. The lowest EPS estimate is $0.74 and the highest is $0.76. Owens-Illinois reported earnings per share of $0.77 during the same quarter last year, which suggests a negative year over year growth rate of 2.6%. The company is expected to issue its next earnings report after the market closes on Tuesday, October 30th.

On average, analysts expect that Owens-Illinois will report full-year earnings of $2.74 per share for the current financial year, with EPS estimates ranging from $2.72 to $2.77. For the next fiscal year, analysts forecast that the firm will report earnings of $2.97 per share, with EPS estimates ranging from $2.72 to $3.10. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for Owens-Illinois.

Owens-Illinois (NYSE:OI) last issued its quarterly earnings data on Monday, July 23rd. The industrial products company reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.03. Owens-Illinois had a return on equity of 45.52% and a net margin of 2.01%. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share.

OI has been the subject of several recent research reports. Zacks Investment Research lowered Owens-Illinois from a “hold” rating to a “sell” rating in a report on Friday, June 22nd. Barclays lowered their price objective on Owens-Illinois from $25.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 27th. Citigroup lowered their price objective on Owens-Illinois from $29.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, July 10th. Robert W. Baird lowered their price objective on Owens-Illinois from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 25th. Finally, Bank of America set a $22.00 price objective on Owens-Illinois and gave the company a “hold” rating in a research report on Wednesday, July 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $23.99.

Several institutional investors have recently made changes to their positions in OI. Mutual of America Capital Management LLC lifted its position in shares of Owens-Illinois by 2.7% in the second quarter. Mutual of America Capital Management LLC now owns 138,969 shares of the industrial products company’s stock worth $2,336,000 after buying an additional 3,718 shares in the last quarter. Sei Investments Co. lifted its position in shares of Owens-Illinois by 56.3% in the first quarter. Sei Investments Co. now owns 11,665 shares of the industrial products company’s stock worth $253,000 after buying an additional 4,200 shares in the last quarter. LPL Financial LLC lifted its position in shares of Owens-Illinois by 11.2% in the first quarter. LPL Financial LLC now owns 44,651 shares of the industrial products company’s stock worth $966,000 after buying an additional 4,481 shares in the last quarter. Voya Investment Management LLC increased its stake in Owens-Illinois by 8.2% during the second quarter. Voya Investment Management LLC now owns 59,970 shares of the industrial products company’s stock worth $1,008,000 after acquiring an additional 4,548 shares during the last quarter. Finally, Spark Investment Management LLC increased its stake in Owens-Illinois by 26.7% during the second quarter. Spark Investment Management LLC now owns 21,800 shares of the industrial products company’s stock worth $366,000 after acquiring an additional 4,600 shares during the last quarter. Institutional investors and hedge funds own 93.05% of the company’s stock.

NYSE:OI traded down $0.33 during mid-day trading on Thursday, hitting $17.69. 63,752 shares of the company traded hands, compared to its average volume of 1,404,565. Owens-Illinois has a one year low of $16.22 and a one year high of $25.90. The company has a debt-to-equity ratio of 5.98, a quick ratio of 0.76 and a current ratio of 1.21. The firm has a market capitalization of $2.99 billion, a PE ratio of 6.65, a P/E/G ratio of 1.04 and a beta of 1.40.

Owens-Illinois Company Profile

Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Europe, North America, Latin America, and the Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.

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