Zacks Research Has Pessimistic View of O-I Glass Q1 Earnings

O-I Glass, Inc. (NYSE:OI) – Equities research analysts at Zacks Research cut their Q1 2027 EPS estimates for shares of O-I Glass in a research report issued to clients and investors on Tuesday, August 11th. Zacks Research analyst Team now expects that the industrial products company will post earnings of $0.30 per share for the quarter, down from their previous estimate of $0.34. Zacks Research has a “Hold” rating on the stock. The consensus estimate for O-I Glass’ current full-year earnings is $0.70 per share.

Other analysts have also issued research reports about the stock. Wells Fargo & Company decreased their target price on shares of O-I Glass from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Royal Bank Of Canada cut their price target on O-I Glass from $14.00 to $11.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Bank of America reissued an “underperform” rating and set a $11.00 price target on shares of O-I Glass in a research note on Tuesday, July 14th. Weiss Ratings cut O-I Glass from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 30th. Finally, BNP Paribas Exane downgraded O-I Glass from an “outperform” rating to a “neutral” rating and set a $8.50 price objective for the company. in a research report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $10.56.

O-I Glass Stock Performance

NYSE:OI opened at $7.14 on Wednesday. The firm has a 50 day simple moving average of $8.77 and a 200-day simple moving average of $10.61. The company has a debt-to-equity ratio of 8.89, a current ratio of 1.26 and a quick ratio of 0.77. The firm has a market cap of $1.10 billion, a PE ratio of -0.95, a P/E/G ratio of 1.37 and a beta of 0.66. O-I Glass has a 1-year low of $6.82 and a 1-year high of $16.91.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.15). O-I Glass had a negative net margin of 18.13% and a positive return on equity of 10.40%. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the company posted $0.53 earnings per share. O-I Glass’s revenue for the quarter was down 2.2% on a year-over-year basis.

Hedge Funds Weigh In On O-I Glass

Large investors have recently modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in shares of O-I Glass by 87.6% during the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 830 shares during the period. Headlands Technologies LLC purchased a new position in O-I Glass in the second quarter valued at approximately $29,000. Quarry LP acquired a new position in O-I Glass during the fourth quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd lifted its position in O-I Glass by 36,533.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock valued at $32,000 after buying an additional 2,192 shares in the last quarter. Finally, State of Wyoming purchased a new stake in O-I Glass during the second quarter worth approximately $35,000. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Eduardo Restrepo purchased 3,309 shares of the stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $8.98 per share, with a total value of $29,714.82. Following the completion of the transaction, the senior vice president owned 94,199 shares in the company, valued at approximately $845,907.02. The trade was a 3.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

O-I Glass Company Profile

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.