Brokerages Expect Owens-Illinois (OI) Will Announce Earnings of $0.58 Per Share

Equities research analysts expect Owens-Illinois (NYSE:OI) to announce earnings of $0.58 per share for the current quarter, Zacks Investment Research 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 $0.56. Owens-Illinois also reported earnings of $0.58 per share during the same quarter last year. The company is scheduled to announce its next earnings report after the market closes on Monday, April 23rd.

On average, 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 year, analysts anticipate that the business will post earnings of $2.99 per share, with EPS estimates ranging from $2.88 to $3.10. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Owens-Illinois.

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

A number of equities research analysts have recently issued reports on the stock. ValuEngine lowered shares of Owens-Illinois from a “buy” rating to a “hold” rating in a research note on Wednesday, March 28th. Wells Fargo cut their target price on shares of Owens-Illinois from $24.00 to $23.00 and set a “market perform” rating on the stock in a research note on Friday, February 9th. Vertical Research upgraded shares of Owens-Illinois to a “buy” rating and set a $27.00 target price on the stock in a research note on Wednesday, February 7th. Zacks Investment Research lowered shares of Owens-Illinois from a “hold” rating to a “sell” rating in a research note on Monday, January 29th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $26.00 target price on shares of Owens-Illinois in a research note on Thursday, December 14th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $26.00.

In related news, SVP Moyano Giancarlo Currarino sold 11,910 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $22.57, for a total transaction of $268,808.70. Following the sale, the senior vice president now owns 28,070 shares in the company, valued at $633,539.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OI. Sei Investments Co. raised its stake in Owens-Illinois by 61.2% during the third quarter. Sei Investments Co. now owns 7,376 shares of the industrial products company’s stock worth $186,000 after acquiring an additional 2,799 shares during the period. New York State Common Retirement Fund raised its stake in Owens-Illinois by 1.3% during the third quarter. New York State Common Retirement Fund now owns 359,270 shares of the industrial products company’s stock worth $9,039,000 after acquiring an additional 4,500 shares during the period. Macquarie Group Ltd. raised its stake in Owens-Illinois by 39.1% during the third quarter. Macquarie Group Ltd. now owns 62,600 shares of the industrial products company’s stock worth $1,575,000 after acquiring an additional 17,600 shares during the period. Legal & General Group Plc grew its position in Owens-Illinois by 3.4% in the 3rd quarter. Legal & General Group Plc now owns 250,840 shares of the industrial products company’s stock worth $6,309,000 after purchasing an additional 8,210 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in 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. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Shares of Owens-Illinois stock opened at $21.00 on Wednesday. The stock has a market capitalization of $3,425.26, a PE ratio of 7.92, a P/E/G ratio of 1.32 and a beta of 1.40. The company has a current ratio of 1.06, a quick ratio of 0.61 and a debt-to-equity ratio of 5.52. Owens-Illinois has a 1 year low of $19.86 and a 1 year high of $25.90.

Owens-Illinois announced that its board has authorized a stock repurchase program on Tuesday, February 6th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the industrial products company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

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Owens-Illinois Company Profile

Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Europe, North America, Latin America, and the Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.

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