FY2023 Earnings Estimate for O-I Glass, Inc. Issued By Truist Securities (NYSE:OI)

O-I Glass, Inc. (NYSE:OI) – Truist Securities dropped their FY2023 earnings estimates for O-I Glass in a research report issued to clients and investors on Wednesday, January 12th. Truist Securities analyst M. Roxland now expects that the industrial products company will post earnings of $2.25 per share for the year, down from their prior estimate of $2.30. Truist Securities also issued estimates for O-I Glass’ FY2024 earnings at $2.45 EPS.

A number of other analysts have also commented on OI. KeyCorp decreased their price objective on O-I Glass from $13.00 to $12.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 27th. Loop Capital began coverage on O-I Glass in a research note on Tuesday, October 5th. They set a “hold” rating and a $16.00 price objective on the stock. Royal Bank of Canada decreased their price objective on O-I Glass from $16.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 28th. TheStreet lowered O-I Glass from a “b-” rating to a “c” rating in a research note on Monday, October 25th. Finally, Wells Fargo & Company raised O-I Glass from an “underweight” rating to an “equal weight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, O-I Glass presently has an average rating of “Hold” and a consensus price target of $16.00.

OI opened at $14.28 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 8.51. The firm has a market cap of $2.24 billion, a P/E ratio of 31.04, a PEG ratio of 0.39 and a beta of 1.73. O-I Glass has a 52 week low of $10.64 and a 52 week high of $19.46. The business’s fifty day simple moving average is $12.02 and its 200 day simple moving average is $13.81.

O-I Glass (NYSE:OI) last posted its quarterly earnings data on Sunday, October 24th. The industrial products company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. O-I Glass had a return on equity of 69.39% and a net margin of 1.23%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OI. Marshall Wace North America L.P. acquired a new position in shares of O-I Glass in the 1st quarter valued at about $25,000. Moors & Cabot Inc. acquired a new position in shares of O-I Glass in the 3rd quarter valued at about $38,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of O-I Glass in the 2nd quarter valued at about $55,000. Simon Quick Advisors LLC lifted its stake in shares of O-I Glass by 28.6% in the 3rd quarter. Simon Quick Advisors LLC now owns 4,500 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Eagle Bay Advisors LLC lifted its stake in shares of O-I Glass by 100.0% in the 3rd quarter. Eagle Bay Advisors LLC now owns 6,800 shares of the industrial products company’s stock valued at $98,000 after purchasing an additional 3,400 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

O-I Glass Company Profile

O-I Glass, Inc engages in manufacturing of glass products. It offers products to the food and beverage sectors. The firm operates through the following geographical segments: Americas, Europe, and Asia Pacific. The company was founded in 1929 and is headquartered in Perrysburg, OH.

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