Shares of Owens-Illinois Inc (NYSE:OI) have earned a consensus rating of “Hold” from the fourteen brokerages that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $13.33.
A number of research firms have commented on OI. Citigroup reduced their price objective on Owens-Illinois from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. ValuEngine upgraded Owens-Illinois from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Goldman Sachs Group raised Owens-Illinois from a “sell” rating to a “neutral” rating and cut their price target for the company from $17.00 to $13.00 in a report on Monday, August 5th. TheStreet cut Owens-Illinois from a “c” rating to a “d” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada reduced their price target on shares of Owens-Illinois to $10.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 5th.
A number of institutional investors have recently bought and sold shares of OI. Marshall Wace North America L.P. bought a new stake in Owens-Illinois during the 1st quarter worth about $25,000. Oregon Public Employees Retirement Fund lifted its position in Owens-Illinois by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 63,860 shares of the industrial products company’s stock valued at $1,103,000 after purchasing an additional 878 shares during the period. First Quadrant L P CA acquired a new position in Owens-Illinois during the 2nd quarter valued at about $25,000. Arizona State Retirement System boosted its stake in shares of Owens-Illinois by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 112,663 shares of the industrial products company’s stock valued at $1,946,000 after purchasing an additional 2,353 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of Owens-Illinois in the 2nd quarter valued at about $56,000. Institutional investors and hedge funds own 91.38% of the company’s stock.
Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.01). Owens-Illinois had a positive return on equity of 42.84% and a negative net margin of 6.58%. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the company earned $0.75 earnings per share. The firm’s revenue was down 1.8% on a year-over-year basis. Analysts forecast that Owens-Illinois will post 2.21 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Wednesday, November 27th. Owens-Illinois’s dividend payout ratio is 7.35%.
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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