O-I Glass, Inc. (NYSE:OI) Expected to Post Earnings of $0.28 Per Share


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Equities analysts predict that O-I Glass, Inc. (NYSE:OI) will announce earnings of $0.28 per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for O-I Glass’ earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.29. O-I Glass posted earnings of $0.41 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 31.7%. The firm is expected to issue 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 earnings of $1.58 per share for the current fiscal year, with EPS estimates ranging from $1.55 to $1.60. For the next year, analysts anticipate that the business will post earnings of $1.83 per share, with EPS estimates ranging from $1.55 to $2.00. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for O-I Glass.

O-I Glass (NYSE:OI) last announced its earnings results on Monday, February 8th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 4.97% and a return on equity of 88.28%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.50 earnings per share.

Several equities research analysts have issued reports on the stock. KeyCorp boosted their price objective on shares of O-I Glass from $11.00 to $12.00 and gave the stock an “underweight” rating in a research note on Monday, April 5th. Deutsche Bank Aktiengesellschaft downgraded shares of O-I Glass from a “buy” rating to a “hold” rating and decreased their target price for the company from $15.00 to $14.00 in a research note on Wednesday, January 20th. Finally, Citigroup upped their target price on shares of O-I Glass from $12.50 to $14.00 in a research note on Thursday, February 11th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. O-I Glass presently has a consensus rating of “Hold” and a consensus target price of $12.00.

Several large investors have recently modified their holdings of OI. Marshall Wace North America L.P. acquired a new stake in shares of O-I Glass during the first quarter worth $25,000. Guggenheim Capital LLC raised its holdings in shares of O-I Glass by 17.0% during the third quarter. Guggenheim Capital LLC now owns 20,889 shares of the industrial products company’s stock worth $221,000 after purchasing an additional 3,033 shares during the period. Morgan Stanley raised its holdings in shares of O-I Glass by 17.7% during the third quarter. Morgan Stanley now owns 265,094 shares of the industrial products company’s stock worth $2,806,000 after purchasing an additional 39,901 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of O-I Glass during the third quarter worth $169,000. Finally, Sei Investments Co. raised its holdings in shares of O-I Glass by 10.3% during the third quarter. Sei Investments Co. now owns 140,159 shares of the industrial products company’s stock worth $1,479,000 after purchasing an additional 13,100 shares during the period. 89.85% of the stock is currently owned by institutional investors.

OI opened at $14.71 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.40 and a debt-to-equity ratio of 19.48. O-I Glass has a 52-week low of $5.76 and a 52-week high of $15.24. The company has a 50 day moving average of $13.56 and a two-hundred day moving average of $12.37. The company has a market cap of $2.32 billion, a P/E ratio of 7.58 and a beta of 1.78.

O-I Glass Company Profile

O-I Glass, Inc engages in manufacturing of glass products. It offers products to the food and beverage sectors. The firm operates through the following geographical segments: Americas, Europe, and Asia Pacific. The company was founded in 1929 and is headquartered in Perrysburg, OH.

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