Owens-Illinois, Inc. (NYSE:OI) Releases FY17 Earnings Guidance

Owens-Illinois, Inc. (NYSE:OI) issued an update on its FY17 earnings guidance on Monday morning. The company provided EPS guidance of $2.55-2.65 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.51.

Shares of Owens-Illinois, Inc. (NYSE:OI) remained flat at $23.45 during trading on Friday. 883,660 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $24.14 and its 200 day moving average price is $21.70. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 16.99 and a beta of 1.50. Owens-Illinois, Inc. has a 1-year low of $16.80 and a 1-year high of $25.02.

Owens-Illinois (NYSE:OI) last posted its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Owens-Illinois had a return on equity of 72.15% and a net margin of 3.36%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the company earned $0.65 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts forecast that Owens-Illinois, Inc. will post $2.63 earnings per share for the current fiscal year.

Several research firms have recently commented on OI. Barclays PLC raised their price objective on Owens-Illinois from $20.00 to $22.00 and gave the stock an equal weight rating in a research note on Monday, May 1st. Zacks Investment Research downgraded Owens-Illinois from a buy rating to a hold rating in a research note on Friday, May 12th. ValuEngine downgraded Owens-Illinois from a strong-buy rating to a buy rating in a research note on Saturday, June 3rd. BMO Capital Markets reaffirmed a hold rating and issued a $20.00 price objective on shares of Owens-Illinois in a research note on Friday, April 21st. Finally, Citigroup Inc. decreased their price objective on Owens-Illinois from $28.00 to $24.00 and set an underweight rating on the stock in a research note on Friday, April 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $26.44.

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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.

Earnings History and Estimates for Owens-Illinois (NYSE:OI)

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