O-I Glass (NYSE:OI – Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $1.00-1.25 for the period, compared to the consensus earnings per share estimate of $1.66. O-I Glass also updated its FY 2024 guidance to 1.000-1.250 EPS.
Wall Street Analyst Weigh In
OI has been the subject of a number of analyst reports. Truist Financial reaffirmed a buy rating and issued a $17.00 price target (down previously from $20.00) on shares of O-I Glass in a research note on Thursday, May 2nd. UBS Group decreased their price target on O-I Glass from $26.00 to $18.00 and set a buy rating on the stock in a research note on Wednesday, July 17th. Barclays dropped their price objective on O-I Glass from $18.00 to $15.00 and set an equal weight rating for the company in a research report on Monday, May 6th. Bank of America reiterated a neutral rating and issued a $16.00 target price (down previously from $21.00) on shares of O-I Glass in a research report on Friday, April 19th. Finally, Wells Fargo & Company lowered their price objective on shares of O-I Glass from $19.00 to $18.00 and set an overweight rating for the company in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $17.89.
O-I Glass Price Performance
O-I Glass (NYSE:OI – Get Free Report) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.03. O-I Glass had a negative net margin of 3.45% and a positive return on equity of 18.25%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the business earned $0.88 earnings per share. The business’s revenue was down 8.5% on a year-over-year basis. On average, equities research analysts anticipate that O-I Glass will post 1.71 earnings per share for the current year.
O-I Glass Company Profile
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.
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