Owens-Illinois (NYSE:OI) updated its FY 2019 earnings guidance on Tuesday. The company provided EPS guidance of $2.40-2.55 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.45. Owens-Illinois also updated its Q3 2019 guidance to $0.52-0.55 EPS.
Several equities research analysts have weighed in on the company. ValuEngine lowered Owens-Illinois from a sell rating to a strong sell rating in a research report on Thursday, August 1st. Citigroup dropped their target price on Owens-Illinois from $19.00 to $14.00 and set a neutral rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Co raised Owens-Illinois from a market perform rating to an outperform rating and increased their target price for the stock from $20.00 to $24.00 in a research report on Wednesday, May 15th. Goldman Sachs Group raised Owens-Illinois from a sell rating to a neutral rating and dropped their target price for the stock from $17.00 to $13.00 in a research report on Monday, August 5th. Finally, Credit Suisse Group dropped their target price on Owens-Illinois from $24.00 to $19.00 and set an outperform rating on the stock in a research report on Monday. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Owens-Illinois has an average rating of Hold and an average target price of $17.70.
NYSE:OI opened at $10.96 on Thursday. Owens-Illinois has a 1 year low of $9.58 and a 1 year high of $20.78. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 4.03, a PEG ratio of 1.36 and a beta of 1.56. The business has a fifty day moving average of $11.87 and a 200-day moving average of $16.59. The company has a debt-to-equity ratio of 5.72, a quick ratio of 1.00 and a current ratio of 1.53.
Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.07). Owens-Illinois had a return on equity of 39.73% and a net margin of 3.76%. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the company posted $0.77 EPS. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities research analysts predict that Owens-Illinois will post 2.45 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a $0.05 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.20 annualized dividend and a dividend yield of 1.82%. Owens-Illinois’s payout ratio is 7.35%.
In other Owens-Illinois news, Director Carol A. Williams purchased 10,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $12.21 per share, with a total value of $122,100.00. Following the completion of the purchase, the director now owns 60,761 shares in the company, valued at approximately $741,891.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.90% of the company’s stock.
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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