Zacks: Brokerages Anticipate Owens-Illinois Inc (OI) Will Post Earnings of $0.62 Per Share

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Equities analysts expect Owens-Illinois Inc (NYSE:OI) to announce $0.62 earnings per share for the current quarter, according to Zacks. Five analysts have made estimates for Owens-Illinois’ earnings, with the highest EPS estimate coming in at $0.64 and the lowest estimate coming in at $0.61. Owens-Illinois reported earnings per share of $0.55 in the same quarter last year, which indicates a positive year over year growth rate of 12.7%. The business is scheduled to announce its next quarterly earnings results on Tuesday, February 5th.

According to Zacks, analysts expect that Owens-Illinois will report full-year earnings of $2.73 per share for the current financial year, with EPS estimates ranging from $2.72 to $2.75. For the next fiscal year, analysts expect that the company will report earnings of $2.93 per share, with EPS estimates ranging from $2.72 to $3.00. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Owens-Illinois.

Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. Owens-Illinois had a return on equity of 43.27% and a net margin of 1.94%. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the business posted $0.77 earnings per share. The company’s quarterly revenue was down 5.6% on a year-over-year basis.

OI has been the subject of several research analyst reports. Zacks Investment Research lowered Owens-Illinois from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Wells Fargo & Co reduced their price objective on Owens-Illinois from $20.00 to $18.00 and set a “market perform” rating on the stock in a research note on Thursday, November 1st. Bank of America set a $22.00 price objective on Owens-Illinois and gave the company a “hold” rating in a research note on Wednesday, July 25th. Finally, Robert W. Baird reduced their price objective on Owens-Illinois from $25.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $23.21.

A number of institutional investors have recently bought and sold shares of the business. SRS Capital Advisors Inc. purchased a new position in shares of Owens-Illinois during the third quarter worth about $109,000. Point72 Hong Kong Ltd grew its holdings in shares of Owens-Illinois by 99,050.0% during the second quarter. Point72 Hong Kong Ltd now owns 7,932 shares of the industrial products company’s stock worth $133,000 after buying an additional 7,924 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Owens-Illinois during the third quarter worth about $152,000. US Bancorp DE grew its holdings in shares of Owens-Illinois by 77.6% during the third quarter. US Bancorp DE now owns 8,146 shares of the industrial products company’s stock worth $153,000 after buying an additional 3,558 shares during the last quarter. Finally, Hartford Investment Management Co. purchased a new position in shares of Owens-Illinois during the second quarter worth about $168,000. Institutional investors own 93.15% of the company’s stock.

Shares of OI traded down $0.23 during midday trading on Friday, hitting $16.74. 25,321 shares of the stock were exchanged, compared to its average volume of 1,703,045. Owens-Illinois has a 52-week low of $15.67 and a 52-week high of $24.66. The firm has a market cap of $2.70 billion, a P/E ratio of 6.32, a P/E/G ratio of 1.03 and a beta of 1.47. The company has a quick ratio of 0.84, a current ratio of 1.32 and a debt-to-equity ratio of 5.14.

About Owens-Illinois

Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Europe, North America, Latin America, and the Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.

Further Reading: Understanding Price to Earnings Ratio (PE)

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