A number of firms have modified their ratings and price targets on shares of Owens-Illinois (NYSE: OI) recently:
- 10/3/2016 – Owens-Illinois was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “For 2016, Owens-Illinois expects adjusted earnings per share to be in the range of $2.25–$2.35. The guidance range reflects uncertainty in macroeconomic conditions and currency rates, among other factors. Further, Brexit impact and a weak Brazilian economy also remain headwinds. However, the company is targeting 1% volume growth for 2016 and a 100 basis points expansion in segment margins. It will benefit from the Vitro's food and beverage business buyout, successful joint venture with Constellation, and asset optimization program in Europe.”
- 9/30/2016 – Owens-Illinois is now covered by analysts at Royal Bank Of Canada. They set a “sector perform” rating and a $18.00 price target on the stock.
- 9/29/2016 – Owens-Illinois is now covered by analysts at RBC Capital Markets. They set a “sector perform” rating and a $18.00 price target on the stock.
- 9/27/2016 – Owens-Illinois was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $20.00 price target on the stock. According to Zacks, “For 2016, Owens-Illinois is targeting 1% volume growth and a 100 basis points expansion in segment margins. The company maintained its adjusted earnings per share guidance for 2016 in the range of $2.25–$2.35. It will benefit from the Vitro's food and beverage business buyout. The acquired business will contribute annual revenues of $945 million to Owens-Illinois’ business. Further, successful joint venture with Constellation and asset optimization program in Europe will also drive its results. These are well reflected in the company’s positive record of earnings surprises in recent quarters.”
- 8/13/2016 – Owens-Illinois had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $40.00 price target on the stock.
Shares of Owens-Illinois Inc. (NYSE:OI) opened at 17.98 on Wednesday. The stock has a 50 day moving average price of $18.01 and a 200 day moving average price of $18.10. The company has a market capitalization of $2.91 billion, a PE ratio of 15.00 and a beta of 1.96. Owens-Illinois Inc. has a 52-week low of $11.58 and a 52-week high of $24.05.
Owens-Illinois (NYSE:OI) last announced its earnings results on Wednesday, July 27th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.02. Owens-Illinois had a positive return on equity of 67.16% and a negative net margin of 0.20%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the firm earned $0.60 EPS. Owens-Illinois’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, analysts predict that Owens-Illinois Inc. will post $2.32 earnings per share for the current fiscal year.
Owens-Illinois, Inc is engaged in the manufacturing of glass containers. The Company’s principal product lines are glass containers for the food and beverage industries. Its segments include Europe, North America, Latin America and Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine.
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