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

Owens-Illinois, Inc. (NYSE:OI) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.55-2.65 for the period, compared to the Thomson Reuters consensus estimate of $2.63. Owens-Illinois also updated its Q3 guidance to $0.70-0.75 EPS.

A number of equities research analysts have commented on the stock. UBS AG assumed coverage on shares of Owens-Illinois in a research note on Tuesday, September 5th. They set a neutral rating and a $26.00 target price on the stock. Zacks Investment Research cut shares of Owens-Illinois from a buy rating to a hold rating in a research note on Friday, May 26th. ValuEngine cut shares of Owens-Illinois from a strong-buy rating to a buy rating in a research note on Saturday, June 3rd. Robert W. Baird restated a hold rating and set a $25.00 target price on shares of Owens-Illinois in a research note on Friday, September 1st. Finally, BidaskClub upgraded shares of Owens-Illinois from a hold rating to a buy rating in a research note on Thursday, June 29th. Two research 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. Owens-Illinois has an average rating of Hold and an average price target of $25.50.

Owens-Illinois, Inc. (NYSE OI) opened at 24.71 on Wednesday. The company has a 50 day moving average of $24.11 and a 200-day moving average of $22.38. The stock has a market capitalization 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 posted its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.75 EPS for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the company earned $0.65 EPS. The firm’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts forecast that Owens-Illinois, Inc. will post $2.62 earnings per share 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 value of $32,599.20. Following the completion of the sale, the senior vice president now directly owns 23,954 shares of the company’s stock, valued at approximately $574,177.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the sale, the insider now directly owns 34,890 shares of the company’s stock, valued at $869,807.70. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

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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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