Analysts Anticipate Owens-Illinois Inc (NYSE:OI) Will Announce Earnings of $0.47 Per Share

Analysts expect Owens-Illinois Inc (NYSE:OI) to announce $0.47 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Owens-Illinois’ earnings, with estimates ranging from $0.46 to $0.49. Owens-Illinois reported earnings of $0.61 per share during the same quarter last year, which would indicate a negative year over year growth rate of 23%. The firm is expected to issue its next earnings results on Tuesday, February 4th.

On average, analysts expect that Owens-Illinois will report full-year earnings of $2.21 per share for the current year, with EPS estimates ranging from $2.20 to $2.23. For the next fiscal year, analysts forecast that the company will post earnings of $2.15 per share, with EPS estimates ranging from $2.00 to $2.35. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that follow Owens-Illinois.

Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.74 billion. Owens-Illinois had a negative net margin of 6.58% and a positive return on equity of 42.84%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 earnings per share.

A number of equities research analysts recently commented on OI shares. KeyCorp reiterated a “sell” rating and set a $8.00 price target on shares of Owens-Illinois in a report on Tuesday, October 29th. Bank of America downgraded Owens-Illinois from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Royal Bank of Canada dropped their target price on Owens-Illinois to $10.00 and set a “market perform” rating for the company in a report on Tuesday. ValuEngine upgraded Owens-Illinois from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Citigroup reduced their price target on Owens-Illinois from $11.00 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $14.68.

NYSE:OI traded up $0.21 during mid-day trading on Wednesday, hitting $9.18. 1,961,262 shares of the stock traded hands, compared to its average volume of 1,581,668. The company has a quick ratio of 0.69, a current ratio of 1.15 and a debt-to-equity ratio of 12.64. Owens-Illinois has a 12-month low of $8.26 and a 12-month high of $20.78. The company has a market cap of $1.40 billion, a PE ratio of 3.38, a price-to-earnings-growth ratio of 1.28 and a beta of 1.49. The business’s 50-day moving average price is $9.62 and its 200 day moving average price is $13.81.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 dividend on an annualized basis and a yield of 2.18%. Owens-Illinois’s dividend payout ratio (DPR) is presently 7.35%.

Institutional investors have recently modified their holdings of the business. Eqis Capital Management Inc. grew its holdings in shares of Owens-Illinois by 11.0% in the 3rd quarter. Eqis Capital Management Inc. now owns 100,688 shares of the industrial products company’s stock valued at $1,034,000 after acquiring an additional 10,007 shares in the last quarter. Eagle Asset Management Inc. lifted its position in Owens-Illinois by 15.9% during the third quarter. Eagle Asset Management Inc. now owns 22,248 shares of the industrial products company’s stock worth $228,000 after purchasing an additional 3,046 shares during the period. SG Americas Securities LLC boosted its position in shares of Owens-Illinois by 103.4% during the 3rd quarter. SG Americas Securities LLC now owns 62,933 shares of the industrial products company’s stock worth $646,000 after acquiring an additional 31,989 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Owens-Illinois by 43.2% during the 3rd quarter. First Trust Advisors LP now owns 181,778 shares of the industrial products company’s stock worth $1,867,000 after buying an additional 54,875 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Owens-Illinois by 51.3% in the 3rd quarter. Parallel Advisors LLC now owns 14,904 shares of the industrial products company’s stock valued at $153,000 after acquiring an additional 5,053 shares during the last quarter. Institutional investors own 90.50% of the company’s stock.

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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