O-I Glass (NYSE:OI – Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 1.000-1.250 for the period, compared to the consensus estimate of 1.690. The company issued revenue guidance of -. O-I Glass also updated its FY24 guidance to $1.00-1.25 EPS.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on OI shares. Wells Fargo & Company lowered their price target on O-I Glass from $19.00 to $18.00 and set an overweight rating for the company in a report on Wednesday, July 17th. Truist Financial reaffirmed a buy rating and set a $16.00 target price (down from $17.00) on shares of O-I Glass in a report on Thursday. Robert W. Baird dropped their target price on O-I Glass from $22.00 to $18.00 and set an outperform rating on the stock in a research report on Thursday. StockNews.com upgraded shares of O-I Glass from a sell rating to a hold rating in a research report on Thursday. Finally, Barclays lowered their price target on shares of O-I Glass from $15.00 to $14.00 and set an equal weight rating on the stock in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $17.22.
Check Out Our Latest Stock Report on OI
O-I Glass Trading Down 2.1 %
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 for the quarter, topping the consensus estimate of $0.42 by $0.02. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. O-I Glass had a positive return on equity of 15.10% and a negative net margin of 4.32%. The company’s revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 earnings per share. As a group, analysts anticipate that O-I Glass will post 1.6 earnings per share for the current fiscal year.
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.
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