Zacks: Analysts Expect O-I Glass, Inc. (NYSE:OI) to Post $0.47 Earnings Per Share

Analysts forecast that O-I Glass, Inc. (NYSE:OI) will announce $0.47 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have made estimates for O-I Glass’ earnings. The lowest EPS estimate is $0.45 and the highest is $0.48. O-I Glass posted earnings of $0.01 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 4,600%. The company is expected to issue its next earnings report after the market closes on Tuesday, August 3rd.

On average, analysts expect that O-I Glass will report full-year earnings of $1.68 per share for the current fiscal year, with EPS estimates ranging from $1.65 to $1.70. For the next fiscal year, analysts expect that the company will post earnings of $1.87 per share, with EPS estimates ranging from $1.65 to $2.00. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for O-I Glass.

O-I Glass (NYSE:OI) last released its earnings results on Wednesday, April 28th. The industrial products company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.07. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.47 billion. O-I Glass had a net margin of 1.67% and a return on equity of 76.70%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 EPS.

A number of equities research analysts have issued reports on OI shares. KeyCorp raised their price target on shares of O-I Glass from $11.00 to $12.00 and gave the stock an “underweight” rating in a report on Monday, April 5th. Longbow Research started coverage on shares of O-I Glass in a report on Thursday, May 20th. They issued a “neutral” rating on the stock. Finally, Barclays raised shares of O-I Glass from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $11.00 to $17.00 in a report on Monday, May 3rd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $13.80.

Several large investors have recently bought and sold shares of the company. Marshall Wace North America L.P. purchased a new position in O-I Glass during the 1st quarter valued at about $25,000. Simon Quick Advisors LLC purchased a new position in O-I Glass during the 1st quarter valued at about $41,000. Lazard Asset Management LLC purchased a new position in O-I Glass during the 4th quarter valued at about $43,000. O Shaughnessy Asset Management LLC purchased a new position in O-I Glass during the 1st quarter valued at about $132,000. Finally, Total Clarity Wealth Management Inc. purchased a new position in O-I Glass during the 1st quarter valued at about $150,000. 90.17% of the stock is owned by hedge funds and other institutional investors.

O-I Glass stock traded down $0.40 during trading hours on Thursday, reaching $14.26. The stock had a trading volume of 535,959 shares, compared to its average volume of 1,483,326. The stock has a market cap of $2.25 billion, a PE ratio of 23.00, a PEG ratio of 0.44 and a beta of 1.77. O-I Glass has a 52 week low of $9.10 and a 52 week high of $19.46. The company has a current ratio of 1.46, a quick ratio of 0.97 and a debt-to-equity ratio of 19.73. The company’s fifty day simple moving average is $17.26.

O-I Glass Company Profile

O-I Glass, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in the Americas, Europe, and the Asia Pacific. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. It is also involved in the production of glass packaging for various food items, soft drinks, tea, juices, and pharmaceuticals.

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