Q4 Earnings Estimate for O-I Glass Issued By Zacks Research

O-I Glass, Inc. (NYSE:OI) – Analysts at Zacks Research upped their Q4 2027 earnings estimates for O-I Glass in a report released on Thursday, August 27th. Zacks Research analyst Team now expects that the industrial products company will earn $0.31 per share for the quarter, up from their prior forecast of $0.21. Zacks Research currently has a “Hold” rating on the stock. The consensus estimate for O-I Glass’ current full-year earnings is $0.39 per share.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.15). The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.68 billion. O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%.The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 earnings per share.

A number of other research firms also recently weighed in on OI. UBS Group dropped their price target on shares of O-I Glass from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Royal Bank Of Canada downgraded O-I Glass from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $10.00 to $8.00 in a research note on Thursday, August 13th. Robert W. Baird set a $13.00 price target on O-I Glass in a research note on Thursday, July 30th. Citigroup upgraded O-I Glass from a “neutral” rating to a “buy” rating and lifted their price target for the company from $8.00 to $9.00 in a report on Friday, August 21st. Finally, Wells Fargo & Company lowered their price target on O-I Glass from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, O-I Glass currently has an average rating of “Hold” and a consensus price target of $10.31.

O-I Glass Stock Down 2.9%

OI stock opened at $7.06 on Monday. The company has a 50 day moving average of $8.25 and a two-hundred day moving average of $9.68. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -0.94, a PEG ratio of 2.58 and a beta of 0.66. O-I Glass has a 12-month low of $6.29 and a 12-month high of $16.91. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 8.89.

Institutional Investors Weigh In On O-I Glass

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new position in O-I Glass during the second quarter worth $225,727,000. Alliancebernstein L.P. lifted its position in shares of O-I Glass by 194.6% in the second quarter. Alliancebernstein L.P. now owns 7,939,841 shares of the industrial products company’s stock worth $117,033,000 after buying an additional 5,244,440 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of O-I Glass during the 2nd quarter worth about $33,436,000. Cooper Creek Partners Management LLC boosted its stake in shares of O-I Glass by 73.8% during the 1st quarter. Cooper Creek Partners Management LLC now owns 7,006,293 shares of the industrial products company’s stock worth $73,636,000 after acquiring an additional 2,975,181 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in shares of O-I Glass during the 4th quarter valued at about $40,090,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

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.