Wall Street brokerages expect Owens-Illinois Inc (NYSE:OI) to announce $0.47 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Owens-Illinois’ earnings, with the highest EPS estimate coming in at $0.49 and the lowest estimate coming in at $0.45. Owens-Illinois reported earnings of $0.61 per share during the same quarter last year, which would indicate a negative year over year growth rate of 23%. The firm is expected to announce its next quarterly earnings report after the market closes on Tuesday, February 4th.
According to Zacks, analysts expect that Owens-Illinois will report full-year earnings of $2.21 per share for the current year, with EPS estimates ranging from $2.19 to $2.23. For the next year, analysts expect that the firm will report earnings of $2.12 per share, with EPS estimates ranging from $2.00 to $2.21. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Owens-Illinois.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.01). Owens-Illinois had a positive return on equity of 42.84% and a negative net margin of 6.58%. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the business earned $0.75 earnings per share. Owens-Illinois’s revenue was down 1.8% compared to the same quarter last year.
Several analysts have recently weighed in on the stock. Royal Bank of Canada lowered their target price on shares of Owens-Illinois to $10.00 and set a “market perform” rating on the stock in a report on Tuesday, November 5th. Wells Fargo & Co reissued a “hold” rating on shares of Owens-Illinois in a report on Monday, December 9th. Zacks Investment Research downgraded shares of Owens-Illinois from a “hold” rating to a “sell” rating and set a $13.00 price objective on the stock. in a report on Monday, January 6th. Robert W. Baird raised shares of Owens-Illinois from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $10.00 to $17.00 in a report on Tuesday, January 7th. Finally, TheStreet downgraded shares of Owens-Illinois from a “c” rating to a “d” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $14.00.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC grew its stake in Owens-Illinois by 2,544.2% during the third quarter. Millennium Management LLC now owns 5,614,748 shares of the industrial products company’s stock worth $57,663,000 after buying an additional 5,402,405 shares during the period. Voloridge Investment Management LLC purchased a new stake in Owens-Illinois during the third quarter worth approximately $1,117,000. Zebra Capital Management LLC purchased a new stake in Owens-Illinois during the third quarter worth approximately $179,000. California State Teachers Retirement System grew its stake in Owens-Illinois by 0.9% during the third quarter. California State Teachers Retirement System now owns 257,318 shares of the industrial products company’s stock worth $2,643,000 after buying an additional 2,347 shares during the period. Finally, Stifel Financial Corp grew its stake in Owens-Illinois by 25.5% during the third quarter. Stifel Financial Corp now owns 232,790 shares of the industrial products company’s stock worth $2,366,000 after buying an additional 47,252 shares during the period. Institutional investors own 91.33% of the company’s stock.
Shares of Owens-Illinois stock opened at $14.02 on Monday. Owens-Illinois has a 1 year low of $8.26 and a 1 year high of $20.78. The company has a debt-to-equity ratio of 12.64, a quick ratio of 0.69 and a current ratio of 1.15. The company has a market capitalization of $2.18 billion, a P/E ratio of 5.97, a PEG ratio of 2.01 and a beta of 1.62. The company’s fifty day moving average is $11.57 and its two-hundred day moving average is $11.65.
Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Americas, Europe, and Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. The company is also involved in the production of glass packaging for various food items, soft drinks, teas, juices, and pharmaceuticals.
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