Owens-Illinois, Inc. (OI) Updates 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 analysts have issued reports on the company. Royal Bank Of Canada reaffirmed a hold rating and set a $25.00 price target on shares of Owens-Illinois in a report on Wednesday, September 6th. UBS AG assumed coverage on Owens-Illinois in a report on Tuesday, September 5th. They set a neutral rating and a $26.00 price target for the company. Robert W. Baird reaffirmed a hold rating and set a $25.00 price target on shares of Owens-Illinois in a report on Friday, September 1st. BMO Capital Markets reaffirmed a hold rating and set a $25.00 price target on shares of Owens-Illinois in a report on Sunday, August 27th. Finally, BidaskClub downgraded Owens-Illinois from a hold rating to a sell rating in a report on Saturday, August 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Owens-Illinois currently has an average rating of Hold and a consensus price target of $25.50.
Shares of Owens-Illinois, Inc. (NYSE OI) opened at 24.78 on Thursday. The stock has a market capitalization of $4.04 billion, a P/E ratio of 17.96 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. The stock has a 50 day moving average price of $24.12 and a 200 day moving average price of $22.42.
Owens-Illinois (NYSE:OI) last issued its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Owens-Illinois had a net margin of 3.36% and a return on equity of 72.15%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the company posted $0.65 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts anticipate that Owens-Illinois, Inc. will post $2.62 earnings per share for the current fiscal year.
In other news, insider Sergio B.O. Galindo sold 5,477 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $24.93, for a total transaction of $136,541.61. Following the transaction, the insider now owns 34,890 shares of the company’s stock, valued at $869,807.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Moyano Giancarlo Currarino sold 1,360 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
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.
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