Owens-Illinois, Inc. (OI) Issues Q3 Earnings Guidance

Owens-Illinois, Inc. (NYSE:OI) updated its third quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.70-0.75 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.74. Owens-Illinois also updated its FY17 guidance to $2.55-2.65 EPS.

A number of brokerages recently weighed in on OI. Royal Bank Of Canada reissued a hold rating and set a $25.00 price objective on shares of Owens-Illinois in a report on Wednesday, September 6th. BidaskClub cut Owens-Illinois from a hold rating to a sell rating in a report on Saturday, August 12th. Jefferies Group LLC reissued a hold rating and set a $27.00 price objective (up from $26.00) on shares of Owens-Illinois in a report on Wednesday, August 2nd. Barclays PLC raised their price objective on Owens-Illinois from $22.00 to $25.00 and gave the company an equal weight rating in a report on Monday, August 7th. Finally, UBS AG initiated coverage on Owens-Illinois in a report on Tuesday, September 5th. They set a neutral rating and a $26.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $25.50.

Shares of Owens-Illinois, Inc. (OI) traded down 0.28% during trading on Tuesday, reaching $24.71. The company’s stock had a trading volume of 1,274,105 shares. The company has a 50 day moving average of $24.09 and a 200-day moving average of $22.37. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 17.91 and a beta of 1.51. Owens-Illinois, Inc. has a 12-month low of $16.80 and a 12-month high of $25.08.

Owens-Illinois (NYSE:OI) last issued its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.75 earnings per share 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 period in the prior year, the business posted $0.65 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. Analysts forecast that Owens-Illinois, Inc. will post $2.62 EPS for the current year.

In other Owens-Illinois news, SVP Moyano Giancarlo Currarino sold 1,360 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $23.97, for a total transaction of $32,599.20. Following the transaction, the senior vice president now directly owns 23,954 shares in the company, valued at approximately $574,177.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sergio B.O. Galindo sold 5,477 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $24.93, for a total value of $136,541.61. Following the transaction, the insider now owns 34,890 shares in the company, valued at $869,807.70. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

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About Owens-Illinois

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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