Owens-Illinois (NYSE:OI) Releases FY 2019 Earnings Guidance

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Owens-Illinois (NYSE:OI) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.40-2.55 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.45. Owens-Illinois also updated its Q3 2019 guidance to $0.52-0.55 EPS.

A number of research analysts recently commented on the company. KeyCorp cut their target price on Owens-Illinois from $16.00 to $11.00 and set an underweight rating for the company in a research note on Friday, August 2nd. Citigroup decreased their price objective on Owens-Illinois from $19.00 to $14.00 and set a neutral rating on the stock in a report on Friday, August 2nd. Goldman Sachs Group upgraded Owens-Illinois from a sell rating to a neutral rating and lowered their price objective for the company from $17.00 to $13.00 in a research note on Monday, August 5th. Bank of America cut Owens-Illinois from a buy rating to a neutral rating in a report on Friday, August 2nd. Finally, ValuEngine downgraded Owens-Illinois from a sell rating to a strong sell rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Owens-Illinois has an average rating of Hold and an average target price of $18.33.

Shares of OI stock opened at $10.95 on Wednesday. The company has a market capitalization of $1.69 billion, a P/E ratio of 4.03, a P/E/G ratio of 1.36 and a beta of 1.56. Owens-Illinois has a 12-month low of $9.58 and a 12-month high of $20.78. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 5.72. The firm has a 50-day moving average price of $12.01 and a 200 day moving average price of $16.64.

Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.07). The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.76 billion. Owens-Illinois had a net margin of 3.76% and a return on equity of 39.73%. Owens-Illinois’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the company earned $0.77 earnings per share. As a group, research analysts expect that Owens-Illinois will post 2.45 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, August 29th. Owens-Illinois’s dividend payout ratio (DPR) is presently 7.35%.

In other Owens-Illinois news, Director Carol A. Williams bought 10,000 shares of the stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $12.21 per share, with a total value of $122,100.00. Following the acquisition, the director now owns 60,761 shares of the company’s stock, valued at $741,891.81. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by company insiders.

Owens-Illinois Company Profile

Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Americas, Europe, and Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. The company is also involved in the production of glass packaging for various food items, soft drinks, teas, juices, and pharmaceuticals.

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