O-I Glass (OI) Scheduled to Post Quarterly Earnings on Tuesday

O-I Glass (NYSE:OI) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of $0.36 per share for the quarter. O-I Glass has set its FY24 guidance at $2.25 to $2.65 EPS and its FY 2024 guidance at 2.250-2.650 EPS.Investors that wish to register for the company’s conference call can do so using this link.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.09. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the company earned $0.38 EPS. O-I Glass’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, analysts expect O-I Glass to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

O-I Glass Trading Up 1.5 %

O-I Glass stock opened at $15.07 on Friday. O-I Glass has a 52 week low of $13.56 and a 52 week high of $23.57. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.77 and a current ratio of 1.23. The stock has a market capitalization of $2.35 billion, a P/E ratio of -20.09, a PEG ratio of 1.04 and a beta of 1.35. The stock has a 50-day simple moving average of $16.00 and a 200 day simple moving average of $15.61.

Analyst Upgrades and Downgrades

OI has been the subject of several recent research reports. Truist Financial reiterated a “buy” rating and issued a $20.00 price target on shares of O-I Glass in a research note on Monday, March 25th. Citigroup downgraded O-I Glass from a “buy” rating to a “neutral” rating and increased their price objective for the company from $17.00 to $18.00 in a report on Wednesday, January 3rd. TheStreet cut shares of O-I Glass from a “b-” rating to a “c-” rating in a research report on Tuesday, February 6th. UBS Group initiated coverage on shares of O-I Glass in a research report on Tuesday, January 16th. They set a “buy” rating and a $26.00 price objective on the stock. Finally, Bank of America reaffirmed a “neutral” rating and issued a $16.00 price target (down previously from $21.00) on shares of O-I Glass in a research report on Friday, April 19th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $21.75.

About O-I Glass

O-I Glass, Inc, through its subsidiaries, engages in the manufacture and sale of glass containers to food and beverage manufacturers primarily in the Americas, Europe, and internationally. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.