Owens-Illinois (NYSE:OI) Releases FY 2019 Earnings Guidance

Owens-Illinois (NYSE:OI) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.40-2.55 for the period, compared to the Thomson Reuters consensus estimate of $2.45. Owens-Illinois also updated its Q3 2019 guidance to $0.52-0.55 EPS.

Shares of Owens-Illinois stock opened at $10.89 on Tuesday. The business has a fifty day simple moving average of $12.13 and a 200 day simple moving average of $16.69. The stock has a market cap of $1.58 billion, a PE ratio of 4.00, a price-to-earnings-growth ratio of 1.26 and a beta of 1.57. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 5.72. Owens-Illinois has a 12 month low of $9.58 and a 12 month high of $20.78.

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

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

Several research analysts recently weighed in on OI shares. Wells Fargo & Co raised shares of Owens-Illinois from a market perform rating to an outperform rating and lifted their price objective for the stock from $20.00 to $24.00 in a research note on Wednesday, May 15th. KeyCorp cut their target price on shares of Owens-Illinois from $16.00 to $11.00 and set an underweight rating on the stock in a report on Friday, August 2nd. ValuEngine lowered shares of Owens-Illinois from a sell rating to a strong sell rating in a report on Thursday, August 1st. Citigroup reduced 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. Finally, Goldman Sachs Group raised shares of Owens-Illinois from a sell rating to a neutral rating and decreased their price target for the company from $17.00 to $13.00 in a report on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $18.33.

In other news, Director Carol A. Williams purchased 10,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $12.21 per share, with a total value of $122,100.00. Following the purchase, the director now directly owns 60,761 shares of the company’s stock, valued at approximately $741,891.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.90% of the company’s stock.

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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