Owens-Illinois Inc (OI) Expected to Post Earnings of $0.54 Per Share

Wall Street analysts expect that Owens-Illinois Inc (NYSE:OI) will report $0.54 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Owens-Illinois’ earnings. The highest EPS estimate is $0.55 and the lowest is $0.53. Owens-Illinois reported earnings per share of $0.50 in the same quarter last year, which suggests a positive year-over-year growth rate of 8%. The company is scheduled to announce its next earnings results on Wednesday, February 7th.

On average, analysts expect that Owens-Illinois will report full year earnings of $2.64 per share for the current fiscal year, with EPS estimates ranging from $2.63 to $2.65. For the next year, analysts forecast that the firm will report earnings of $2.80 per share, with EPS estimates ranging from $2.68 to $2.90. Zacks’ EPS calculations are an average based on a survey of research analysts that that provide coverage for Owens-Illinois.

Owens-Illinois (NYSE:OI) last issued its quarterly earnings results on Monday, October 23rd. The industrial products company reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.04. Owens-Illinois had a return on equity of 63.33% and a net margin of 3.59%. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the firm earned $0.68 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis.

OI has been the topic of several recent research reports. ValuEngine raised Owens-Illinois from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 13th. Zacks Investment Research downgraded Owens-Illinois from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Robert W. Baird raised their price objective on Owens-Illinois from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. UBS Group reaffirmed a “neutral” rating and issued a $27.00 price objective (up previously from $26.00) on shares of Owens-Illinois in a research note on Tuesday, October 24th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Owens-Illinois in a research note on Friday, November 10th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $26.36.

Owens-Illinois (NYSE:OI) opened at $22.50 on Wednesday. Owens-Illinois has a 1-year low of $18.35 and a 1-year high of $25.90. The company has a debt-to-equity ratio of 5.73, a current ratio of 1.23 and a quick ratio of 0.74. The firm has a market capitalization of $3,670.00, a PE ratio of 15.10, a price-to-earnings-growth ratio of 1.16 and a beta of 1.53.

In related news, insider Timothy M. Connors sold 3,500 shares of Owens-Illinois stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $23.86, for a total transaction of $83,510.00. Following the sale, the insider now owns 19,624 shares of the company’s stock, valued at approximately $468,228.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. raised its stake in Owens-Illinois by 15.1% during the 3rd quarter. Prudential Financial Inc. now owns 3,916,784 shares of the industrial products company’s stock valued at $98,546,000 after purchasing an additional 513,679 shares during the period. Public Employees Retirement System of Ohio raised its stake in Owens-Illinois by 105.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 146,543 shares of the industrial products company’s stock valued at $3,687,000 after purchasing an additional 75,249 shares during the period. GSA Capital Partners LLP bought a new stake in Owens-Illinois during the 3rd quarter valued at approximately $427,000. Sterling Capital Management LLC raised its stake in Owens-Illinois by 281.4% during the 3rd quarter. Sterling Capital Management LLC now owns 128,312 shares of the industrial products company’s stock valued at $3,228,000 after purchasing an additional 94,670 shares during the period. Finally, Neuberger Berman Group LLC bought a new stake in Owens-Illinois during the 3rd quarter valued at approximately $211,000. 93.58% of the stock is currently owned by institutional investors.

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Owens-Illinois Company Profile

Owens-Illinois, Inc is a manufacturer of glass container products. The Company’s principal product lines are glass containers for the food and beverage industries. The Company’s segments include Europe, North America, Latin America and Asia Pacific. The Company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine.

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