$1.46 Billion in Sales Expected for O-I Glass, Inc. (NYSE:OI) This Quarter


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Brokerages forecast that O-I Glass, Inc. (NYSE:OI) will announce $1.46 billion in sales for the current quarter, Zacks reports. Four analysts have made estimates for O-I Glass’ earnings. The lowest sales estimate is $1.40 billion and the highest is $1.54 billion. O-I Glass posted sales of $1.56 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 6.4%. The company is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, April 28th.

According to Zacks, analysts expect that O-I Glass will report full-year sales of $6.11 billion for the current financial year, with estimates ranging from $5.91 billion to $6.27 billion. For the next fiscal year, analysts expect that the company will post sales of $6.23 billion, with estimates ranging from $5.91 billion to $6.51 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for O-I Glass.

O-I Glass (NYSE:OI) last posted its quarterly earnings data on Monday, February 8th. The industrial products company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.06. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.48 billion. O-I Glass had a return on equity of 88.28% and a net margin of 4.97%. O-I Glass’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 earnings per share.

Several research analysts recently commented on the company. Citigroup increased their price target on O-I Glass from $12.50 to $14.00 in a research report on Thursday, February 11th. Deutsche Bank Aktiengesellschaft cut O-I Glass from a “buy” rating to a “hold” rating and reduced their price target for the company from $15.00 to $14.00 in a research report on Wednesday, January 20th. Finally, KeyCorp increased their price target on O-I Glass from $11.00 to $12.00 and gave the company an “underweight” rating in a research report on Monday. Four analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. O-I Glass presently has a consensus rating of “Hold” and an average target price of $11.10.

NYSE OI traded down $0.28 during trading hours on Friday, hitting $14.22. 989,204 shares of the company traded hands, compared to its average volume of 1,854,618. The business’s 50-day moving average is $12.95 and its 200-day moving average is $12.08. O-I Glass has a twelve month low of $5.76 and a twelve month high of $15.24. The company has a debt-to-equity ratio of 19.48, a quick ratio of 0.94 and a current ratio of 1.40. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 7.35 and a beta of 1.78.

Several institutional investors and hedge funds have recently added to or reduced their stakes in OI. Marshall Wace North America L.P. bought a new position in shares of O-I Glass during the first quarter worth approximately $25,000. Meeder Asset Management Inc. increased its stake in shares of O-I Glass by 83.1% during the fourth quarter. Meeder Asset Management Inc. now owns 3,441 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 1,562 shares during the period. Lazard Asset Management LLC bought a new position in shares of O-I Glass during the fourth quarter worth approximately $43,000. US Bancorp DE increased its stake in shares of O-I Glass by 44.9% during the third quarter. US Bancorp DE now owns 8,542 shares of the industrial products company’s stock worth $90,000 after purchasing an additional 2,647 shares during the period. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of O-I Glass during the fourth quarter worth approximately $124,000. 89.85% of the stock is owned by institutional investors.

About O-I Glass

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

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