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.”
A number of other research analysts have also weighed in on the stock. Royal Bank Of Canada assumed coverage on shares of Owens-Illinois in a research report on Friday, September 30th. They set a sector perform rating and a $18.00 target price for the company. RBC Capital Markets assumed coverage on shares of Owens-Illinois in a research report on Thursday, September 29th. They set a sector perform rating and a $18.00 target price for the company. Morgan Stanley reissued an equal weight rating and set a $40.00 target price on shares of Owens-Illinois in a research report on Saturday, August 13th. Jefferies Group boosted their target price on shares of Owens-Illinois from $18.00 to $20.00 and gave the stock a hold rating in a research report on Thursday, July 14th. Finally, Citigroup Inc. reissued a buy rating and set a $22.00 target price on shares of Owens-Illinois in a research report on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $20.87.
Owens-Illinois (NYSE:OI) opened at 18.26 on Monday. The firm has a 50-day moving average price of $17.98 and a 200-day moving average price of $18.10. The firm has a market capitalization of $2.96 billion, a P/E ratio of 15.23 and a beta of 1.96. Owens-Illinois has a 52 week low of $11.58 and a 52 week high of $24.05.
Owens-Illinois (NYSE:OI) last released its earnings results on Wednesday, July 27th. The company reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.02. The firm earned $1.76 billion during the quarter, compared to analyst estimates of $1.73 billion. Owens-Illinois had a negative net margin of 0.20% and a positive return on equity of 67.16%. The business’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 EPS. Equities analysts forecast that Owens-Illinois will post $2.32 EPS for the current year.
A number of hedge funds have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Owens-Illinois during the fourth quarter valued at $32,989,000. Aperio Group LLC boosted its stake in Owens-Illinois by 6.0% in the first quarter. Aperio Group LLC now owns 58,592 shares of the company’s stock valued at $935,000 after buying an additional 3,330 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Owens-Illinois by 22.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 106,621 shares of the company’s stock valued at $1,702,000 after buying an additional 19,790 shares during the period. Ngam Advisors L.P. boosted its stake in Owens-Illinois by 35.7% in the first quarter. Ngam Advisors L.P. now owns 31,581 shares of the company’s stock valued at $504,000 after buying an additional 8,312 shares during the period. Finally, Teachers Advisors Inc. boosted its stake in Owens-Illinois by 132.6% in the first quarter. Teachers Advisors Inc. now owns 553,211 shares of the company’s stock valued at $8,829,000 after buying an additional 315,334 shares during the period. 93.89% of the stock is currently owned by hedge funds and other institutional investors.
Owens-Illinois Company Profile
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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