O-I Glass (NYSE:OI) Releases Earnings Results, Misses Expectations By $0.15 EPS

O-I Glass (NYSE:OI) posted its quarterly earnings results on Tuesday. The industrial products company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.15), Zacks reports. O-I Glass had a positive return on equity of 13.65% and a negative net margin of 2.91%.The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.68 billion.

O-I Glass Stock Performance

O-I Glass stock traded down $0.15 during mid-day trading on Tuesday, reaching $9.05. The company’s stock had a trading volume of 5,099,288 shares, compared to its average volume of 2,602,668. The firm’s fifty day moving average price is $9.06 and its two-hundred day moving average price is $11.23. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.73 and a current ratio of 1.26. O-I Glass has a 12-month low of $7.75 and a 12-month high of $16.91. The company has a market capitalization of $1.39 billion, a P/E ratio of -7.42, a PEG ratio of 1.10 and a beta of 0.62.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OI. UBS Group decreased their target price on O-I Glass from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Royal Bank Of Canada dropped their price target on O-I Glass from $14.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Weiss Ratings upgraded O-I Glass from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 15th. Citigroup decreased their price objective on O-I Glass from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Finally, Wells Fargo & Company lowered their price objective on O-I Glass from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, O-I Glass has an average rating of “Hold” and a consensus price target of $13.57.

Insider Buying and Selling

In related news, SVP Randolph L. Burns bought 11,000 shares of the business’s stock in a transaction on Friday, May 8th. The stock was acquired at an average price of $9.32 per share, for a total transaction of $102,520.00. Following the purchase, the senior vice president directly owned 133,932 shares in the company, valued at $1,248,246.24. This trade represents a 8.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Darrow A. Abrahams purchased 2,774 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $9.04 per share, for a total transaction of $25,076.96. Following the completion of the transaction, the senior vice president owned 235,928 shares of the company’s stock, valued at approximately $2,132,789.12. This trade represents a 1.19% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 17,083 shares of company stock valued at $157,312. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of O-I Glass

Several institutional investors and hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC increased its holdings in shares of O-I Glass by 6.0% in the fourth quarter. Corient Private Wealth LLC now owns 18,694 shares of the industrial products company’s stock worth $277,000 after purchasing an additional 1,062 shares during the period. Virtu Financial LLC bought a new stake in O-I Glass during the fourth quarter valued at $228,000. Invesco Ltd. boosted its stake in O-I Glass by 18.7% during the fourth quarter. Invesco Ltd. now owns 1,269,236 shares of the industrial products company’s stock valued at $18,734,000 after buying an additional 199,938 shares during the period. XTX Topco Ltd grew its position in O-I Glass by 22.5% during the fourth quarter. XTX Topco Ltd now owns 24,095 shares of the industrial products company’s stock worth $356,000 after buying an additional 4,425 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in O-I Glass during the fourth quarter worth about $1,917,000. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

O-I Glass Company Profile

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.