Analysts expect that Owens-Illinois Inc (NYSE:OI) will post sales of $1.62 billion for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Owens-Illinois’ earnings, with estimates ranging from $1.60 billion to $1.64 billion. Owens-Illinois reported sales of $1.64 billion in the same quarter last year, which would suggest a negative year over year growth rate of 1.2%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, February 4th.
According to Zacks, analysts expect that Owens-Illinois will report full year sales of $6.68 billion for the current financial year, with estimates ranging from $6.66 billion to $6.70 billion. For the next fiscal year, analysts expect that the firm will report sales of $6.64 billion, with estimates ranging from $6.57 billion to $6.76 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Owens-Illinois.
Owens-Illinois (NYSE:OI) last issued its earnings results on Monday, October 28th. The industrial products company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). Owens-Illinois had a positive return on equity of 42.84% and a negative net margin of 6.58%. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The company’s quarterly revenue was down 1.8% compared to the same quarter last year.
Several analysts have issued reports on the stock. KeyCorp reaffirmed a “sell” rating and issued a $8.00 price target on shares of Owens-Illinois in a report on Tuesday, October 29th. Robert W. Baird raised shares of Owens-Illinois from a “neutral” rating to an “outperform” rating and upped their price target for the company from $10.00 to $17.00 in a report on Tuesday, January 7th. Zacks Investment Research downgraded shares of Owens-Illinois from a “hold” rating to a “sell” rating and set a $13.00 price target on the stock. in a report on Monday, January 6th. Goldman Sachs Group raised shares of Owens-Illinois from a “neutral” rating to a “buy” rating and upped their price target for the company from $10.50 to $13.00 in a report on Tuesday, December 10th. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of Owens-Illinois in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $14.00.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Private Capital Group LLC increased its position in Owens-Illinois by 75.5% during the second quarter. Private Capital Group LLC now owns 2,662 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 1,145 shares during the last quarter. Sigma Planning Corp increased its position in Owens-Illinois by 10.5% during the third quarter. Sigma Planning Corp now owns 13,032 shares of the industrial products company’s stock worth $134,000 after purchasing an additional 1,233 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in Owens-Illinois during the first quarter worth approximately $25,000. Dupont Capital Management Corp increased its position in Owens-Illinois by 10.2% during the third quarter. Dupont Capital Management Corp now owns 15,119 shares of the industrial products company’s stock worth $155,000 after purchasing an additional 1,403 shares during the last quarter. Finally, World Asset Management Inc increased its position in Owens-Illinois by 12.9% during the third quarter. World Asset Management Inc now owns 12,570 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 1,437 shares during the last quarter. 91.33% of the stock is currently owned by institutional investors and hedge funds.
Shares of OI opened at $14.03 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.69 and a debt-to-equity ratio of 12.64. The firm’s 50-day moving average is $11.48 and its two-hundred day moving average is $11.67. Owens-Illinois has a twelve month low of $8.26 and a twelve month high of $20.78. The firm has a market capitalization of $2.12 billion, a P/E ratio of 5.16, a PEG ratio of 1.95 and a beta of 1.62.
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Wednesday, November 27th. Owens-Illinois’s payout ratio is 7.35%.
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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