Owens-Illinois Inc (NYSE:OI) has earned an average rating of “Hold” from the twelve ratings firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $22.28.
OI has been the subject of a number of recent analyst reports. TheStreet raised Owens-Illinois from a “c+” rating to a “b” rating in a report on Friday, January 25th. Bank of America raised Owens-Illinois from a “neutral” rating to a “buy” rating and set a $22.00 price target for the company in a report on Friday, November 9th. Zacks Investment Research raised Owens-Illinois from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Wednesday, January 2nd. Wells Fargo & Co dropped their price target on Owens-Illinois from $20.00 to $18.00 and set a “market perform” rating for the company in a report on Thursday, November 1st. Finally, Barclays cut Owens-Illinois from a “buy” rating to a “neutral” rating and dropped their price target for the company from $25.00 to $20.00 in a report on Monday, January 7th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in OI. Janney Montgomery Scott LLC boosted its position in shares of Owens-Illinois by 3.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 22,083 shares of the industrial products company’s stock worth $381,000 after purchasing an additional 791 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Owens-Illinois by 0.7% in the 4th quarter. Arizona State Retirement System now owns 113,904 shares of the industrial products company’s stock worth $1,964,000 after purchasing an additional 831 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Owens-Illinois by 0.6% in the 3rd quarter. Legal & General Group Plc now owns 232,920 shares of the industrial products company’s stock worth $4,376,000 after purchasing an additional 1,286 shares during the last quarter. Alpha Omega Wealth Management LLC bought a new position in shares of Owens-Illinois in the 4th quarter worth $29,000. Finally, Destination Wealth Management bought a new position in shares of Owens-Illinois in the 4th quarter worth $41,000. 91.29% of the stock is owned by institutional investors.
Shares of OI traded down $0.14 during mid-day trading on Wednesday, reaching $19.75. The company had a trading volume of 54,458 shares, compared to its average volume of 1,200,325. Owens-Illinois has a twelve month low of $15.67 and a twelve month high of $23.45. The company has a current ratio of 1.32, a quick ratio of 0.84 and a debt-to-equity ratio of 5.14. The stock has a market cap of $3.05 billion, a PE ratio of 7.46, a PEG ratio of 1.04 and a beta of 1.38.
Owens-Illinois (NYSE:OI) last issued its earnings results on Tuesday, February 5th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.01). Owens-Illinois had a return on equity of 43.27% and a net margin of 1.94%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the company posted $0.55 earnings per share. The company’s quarterly revenue was down 5.9% on a year-over-year basis. On average, sell-side analysts forecast that Owens-Illinois will post 2.73 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 12th. Stockholders of record on Tuesday, January 22nd will be paid a $0.05 dividend. The ex-dividend date is Friday, January 18th. This represents a $0.20 annualized dividend and a dividend yield of 1.01%. Owens-Illinois’s dividend payout ratio (DPR) is currently 7.55%.
Owens-Illinois Company Profile
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.
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