Owens-Illinois (NYSE:OI) Issues Q3 2019 Earnings Guidance

Owens-Illinois (NYSE:OI) issued an update on its third quarter 2019 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.52-0.55 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.62. Owens-Illinois also updated its FY 2019 guidance to $2.40-2.55 EPS.

Several brokerages have recently issued reports on OI. Bank of America cut shares of Owens-Illinois from a buy rating to a neutral rating in a research note on Friday, August 2nd. KeyCorp cut their target price on shares of Owens-Illinois from $16.00 to $11.00 and set an underweight rating for the company in a research note on Friday, August 2nd. Credit Suisse Group restated an outperform rating and set a $19.00 target price (down from $24.00) on shares of Owens-Illinois in a report on Monday. ValuEngine lowered shares of Owens-Illinois from a sell rating to a strong sell rating in a research report on Thursday, August 1st. Finally, Citigroup decreased their price target on shares of Owens-Illinois from $19.00 to $14.00 and set a neutral rating on the stock in a research report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $18.33.

Shares of OI opened at $10.89 on Tuesday. The business’s 50-day moving average price is $12.13 and its 200 day moving average price is $16.69. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 5.72. The stock has a market capitalization of $1.58 billion, a P/E ratio of 4.00, a P/E/G ratio of 1.26 and a beta of 1.57. Owens-Illinois has a 1-year low of $9.58 and a 1-year high of $20.78.

Owens-Illinois (NYSE:OI) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.07). Owens-Illinois had a net margin of 3.76% and a return on equity of 39.73%. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the company posted $0.77 earnings per share. Owens-Illinois’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, research analysts predict that Owens-Illinois will post 2.45 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Thursday, August 29th. Owens-Illinois’s dividend payout ratio (DPR) is currently 7.35%.

In other news, Director Carol A. Williams purchased 10,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $12.21 per share, for a total transaction of $122,100.00. Following the completion of the acquisition, the director now directly owns 60,761 shares of the company’s stock, valued at $741,891.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is owned by insiders.

Owens-Illinois Company Profile

Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Americas, Europe, and Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. The company is also involved in the production of glass packaging for various food items, soft drinks, teas, juices, and pharmaceuticals.

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