Zacks: Analysts Expect Owens-Illinois Inc (NYSE:OI) Will Announce Earnings of $0.63 Per Share

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Equities analysts expect Owens-Illinois Inc (NYSE:OI) to post earnings per share (EPS) of $0.63 for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Owens-Illinois’ earnings. The lowest EPS estimate is $0.60 and the highest is $0.64. Owens-Illinois posted earnings of $0.75 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 16%. The company is scheduled to report its next quarterly earnings results on Tuesday, October 29th.

On average, analysts expect that Owens-Illinois will report full-year earnings of $2.45 per share for the current fiscal year, with EPS estimates ranging from $2.40 to $2.47. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.62 per share, with EPS estimates ranging from $2.35 to $2.70. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Owens-Illinois.

Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.07). The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Owens-Illinois had a net margin of 3.76% and a return on equity of 39.73%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 earnings per share.

Several analysts have commented on OI shares. Goldman Sachs Group raised shares of Owens-Illinois from a “sell” rating to a “neutral” rating and decreased their price target for the company from $17.00 to $13.00 in a research report on Monday, August 5th. Citigroup decreased their price objective on shares of Owens-Illinois from $19.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. ValuEngine lowered shares of Owens-Illinois from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. UFS raised shares of Owens-Illinois from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 30th. Finally, Wells Fargo & Co raised shares of Owens-Illinois from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $20.00 to $24.00 in a research report on Wednesday, May 15th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $18.89.

Shares of OI stock traded up $0.21 during mid-day trading on Tuesday, hitting $11.54. 1,886,636 shares of the stock traded hands, compared to its average volume of 1,285,448. The stock has a market capitalization of $1.81 billion, a PE ratio of 4.24, a P/E/G ratio of 1.45 and a beta of 1.41. The stock’s fifty day moving average price is $15.83. Owens-Illinois has a 52-week low of $11.23 and a 52-week high of $20.78. The company has a debt-to-equity ratio of 5.72, a quick ratio of 1.00 and a current ratio of 1.53.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Thursday, August 29th. Owens-Illinois’s payout ratio is currently 7.35%.

In other Owens-Illinois news, Director Carol A. Williams purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $12.21 per share, for a total transaction of $122,100.00. Following the acquisition, the director now owns 60,761 shares in the company, valued at $741,891.81. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Moors & Cabot Inc. grew its position in shares of Owens-Illinois by 6.6% during the first quarter. Moors & Cabot Inc. now owns 12,150 shares of the industrial products company’s stock worth $230,000 after buying an additional 750 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in shares of Owens-Illinois by 5.1% in the 1st quarter. Eagle Asset Management Inc. now owns 17,423 shares of the industrial products company’s stock valued at $330,000 after purchasing an additional 846 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of Owens-Illinois by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 63,860 shares of the industrial products company’s stock valued at $1,103,000 after purchasing an additional 878 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Owens-Illinois by 15.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 6,560 shares of the industrial products company’s stock valued at $113,000 after purchasing an additional 879 shares during the period. Finally, Alpha Omega Wealth Management LLC lifted its stake in shares of Owens-Illinois by 59.3% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 2,637 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 982 shares during the period. 91.17% of the stock is currently owned by institutional investors and hedge funds.

About Owens-Illinois

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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