Brokerages Anticipate Owens-Illinois Inc (NYSE:OI) Will Announce Earnings of $0.47 Per Share

Brokerages expect that Owens-Illinois Inc (NYSE:OI) will report earnings per share (EPS) of $0.47 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Owens-Illinois’ earnings, with the lowest EPS estimate coming in at $0.46 and the highest estimate coming in at $0.49. Owens-Illinois reported earnings per share of $0.61 in the same quarter last year, which would suggest a negative year-over-year growth rate of 23%. The business is expected to report its next quarterly earnings results 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 fiscal year, with EPS estimates ranging from $2.20 to $2.23. For the next year, analysts anticipate that the business will post earnings of $2.15 per share, with EPS estimates ranging from $2.00 to $2.35. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Owens-Illinois.

Owens-Illinois (NYSE:OI) last released its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.74 billion. Owens-Illinois had a negative net margin of 6.58% and a positive return on equity of 42.84%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the business earned $0.75 earnings per share.

OI has been the topic of several research reports. ValuEngine raised shares of Owens-Illinois from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Credit Suisse Group cut their target price on shares of Owens-Illinois from $24.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. UBS Group decreased their target price on shares of Owens-Illinois from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. TheStreet downgraded shares of Owens-Illinois from a “c” rating to a “d” rating in a report on Friday, November 1st. Finally, BMO Capital Markets set a $17.00 price target on Owens-Illinois and gave the company a “hold” rating in a research note on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $14.82.

Shares of OI stock traded up $0.52 on Friday, reaching $10.15. The company had a trading volume of 1,198,903 shares, compared to its average volume of 1,790,599. The business’s 50-day moving average is $9.52 and its 200 day moving average is $12.73. Owens-Illinois has a one year low of $8.26 and a one year high of $20.78. The company has a quick ratio of 0.69, a current ratio of 1.15 and a debt-to-equity ratio of 12.64. The stock has a market capitalization of $1.54 billion, a PE ratio of 3.73, a price-to-earnings-growth ratio of 1.36 and a beta of 1.55.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Wednesday, November 27th. Owens-Illinois’s payout ratio is currently 7.35%.

Several large investors have recently modified their holdings of the company. Marshall Wace North America L.P. bought a new stake in shares of Owens-Illinois in the 1st quarter valued at about $25,000. Oregon Public Employees Retirement Fund boosted its holdings in Owens-Illinois by 1.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 63,860 shares of the industrial products company’s stock valued at $1,103,000 after acquiring an additional 878 shares during the last quarter. Canandaigua National Bank & Trust Co. increased its position in Owens-Illinois by 18.9% during the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 35,600 shares of the industrial products company’s stock valued at $615,000 after purchasing an additional 5,658 shares during the period. First Quadrant L P CA acquired a new stake in Owens-Illinois during the 2nd quarter valued at approximately $25,000. Finally, Arizona State Retirement System raised its holdings in Owens-Illinois by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 112,663 shares of the industrial products company’s stock worth $1,946,000 after purchasing an additional 2,353 shares during the last quarter. Institutional investors own 91.38% of the company’s stock.

About Owens-Illinois

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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