Brokerages expect Owens-Illinois Inc (NYSE:OI) to post earnings per share of $0.58 for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Owens-Illinois’ earnings, with the highest EPS estimate coming in at $0.59 and the lowest estimate coming in at $0.55. Owens-Illinois also reported earnings of $0.58 per share during the same quarter last year. The firm is expected to announce its next earnings results on Monday, April 23rd.

According to Zacks, analysts expect that Owens-Illinois will report full-year earnings of $2.81 per share for the current year, with EPS estimates ranging from $2.80 to $2.84. For the next fiscal year, analysts anticipate that the company will report earnings of $2.99 per share, with EPS estimates ranging from $2.88 to $3.10. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that cover Owens-Illinois.

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Owens-Illinois (NYSE:OI) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.01. Owens-Illinois had a net margin of 2.65% and a return on equity of 53.60%. The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the business earned $0.50 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis.

OI has been the topic of several recent analyst reports. Royal Bank of Canada restated a “hold” rating and issued a $26.00 target price on shares of Owens-Illinois in a report on Thursday, December 14th. Zacks Investment Research lowered Owens-Illinois from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Vertical Research raised Owens-Illinois to a “buy” rating and set a $27.00 price target for the company in a research note on Wednesday, February 7th. Wells Fargo dropped their price target on Owens-Illinois from $24.00 to $23.00 and set a “market perform” rating for the company in a research note on Friday, February 9th. Finally, ValuEngine raised Owens-Illinois from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.00.

Shares of OI stock traded up $0.06 during trading on Friday, hitting $21.65. 159,813 shares of the stock traded hands, compared to its average volume of 1,445,457. The company has a debt-to-equity ratio of 5.52, a current ratio of 1.06 and a quick ratio of 0.61. Owens-Illinois has a 1 year low of $19.59 and a 1 year high of $25.90. The company has a market capitalization of $3,627.51, a PE ratio of 19.63, a price-to-earnings-growth ratio of 1.40 and a beta of 1.46.

Owens-Illinois declared that its Board of Directors has approved a stock repurchase plan on Tuesday, February 6th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

In other Owens-Illinois news, SVP Moyano Giancarlo Currarino sold 11,910 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $22.57, for a total transaction of $268,808.70. Following the completion of the transaction, the senior vice president now owns 28,070 shares of the company’s stock, valued at $633,539.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. LSV Asset Management raised its position in shares of Owens-Illinois by 38.9% in the 4th quarter. LSV Asset Management now owns 4,343,542 shares of the industrial products company’s stock worth $96,296,000 after purchasing an additional 1,216,999 shares during the last quarter. Bank of Montreal Can raised its position in shares of Owens-Illinois by 10,107.7% in the 4th quarter. Bank of Montreal Can now owns 1,015,977 shares of the industrial products company’s stock worth $22,524,000 after purchasing an additional 1,006,024 shares during the last quarter. Waverton Investment Management Ltd raised its position in shares of Owens-Illinois by 9,971.9% in the 4th quarter. Waverton Investment Management Ltd now owns 1,014,841 shares of the industrial products company’s stock worth $22,499,000 after purchasing an additional 1,004,765 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Owens-Illinois by 15.1% in the 3rd quarter. Prudential Financial Inc. now owns 3,916,784 shares of the industrial products company’s stock worth $98,546,000 after purchasing an additional 513,679 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Owens-Illinois by 147.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 681,303 shares of the industrial products company’s stock worth $17,183,000 after purchasing an additional 406,454 shares during the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

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About Owens-Illinois

Owens-Illinois, Inc is a manufacturer of glass container products. The Company’s principal product lines are glass containers for the food and beverage industries. The Company’s segments include Europe, North America, Latin America and Asia Pacific. The Company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine.

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