$1.73 Billion in Sales Expected for Owens-Illinois Inc (OI) This Quarter
Brokerages expect Owens-Illinois Inc (NYSE:OI) to announce $1.73 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Owens-Illinois’ earnings, with the lowest sales estimate coming in at $1.69 billion and the highest estimate coming in at $1.75 billion. Owens-Illinois reported sales of $1.64 billion in the same quarter last year, which indicates a positive year over year growth rate of 5.5%. The company is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, February 6th.
According to Zacks, analysts expect that Owens-Illinois will report full-year sales of $1.73 billion for the current fiscal year, with estimates ranging from $6.80 billion to $6.90 billion. For the next financial year, analysts anticipate that the company will post sales of $7.02 billion per share, with estimates ranging from $6.87 billion to $7.13 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Owens-Illinois.
Owens-Illinois (NYSE:OI) last issued its quarterly earnings data on Monday, October 23rd. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.04. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. Owens-Illinois had a return on equity of 63.33% and a net margin of 3.59%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 earnings per share.
In other Owens-Illinois news, insider Timothy M. Connors sold 3,500 shares of Owens-Illinois stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $23.86, for a total value of $83,510.00. Following the sale, the insider now owns 19,624 shares of the company’s stock, valued at approximately $468,228.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in OI. Principal Financial Group Inc. boosted its holdings in Owens-Illinois by 145.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,714,934 shares of the industrial products company’s stock valued at $43,148,000 after purchasing an additional 1,017,414 shares in the last quarter. Waverton Investment Management Ltd boosted its holdings in Owens-Illinois by 9,971.9% in the 4th quarter. Waverton Investment Management Ltd now owns 1,014,841 shares of the industrial products company’s stock valued at $22,499,000 after purchasing an additional 1,004,765 shares in the last quarter. Boston Partners purchased a new stake in Owens-Illinois in the 3rd quarter valued at approximately $22,201,000. Thrivent Financial For Lutherans boosted its holdings in Owens-Illinois by 30.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 2,929,740 shares of the industrial products company’s stock valued at $70,080,000 after purchasing an additional 688,720 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Owens-Illinois by 15.1% in the 3rd quarter. Prudential Financial Inc. now owns 3,916,784 shares of the industrial products company’s stock valued at $98,546,000 after purchasing an additional 513,679 shares in the last quarter. 93.58% of the stock is currently owned by institutional investors.
Owens-Illinois (OI) traded up $0.17 during midday trading on Friday, hitting $22.44. The company had a trading volume of 1,445,340 shares, compared to its average volume of 1,404,333. The company has a debt-to-equity ratio of 5.73, a quick ratio of 0.74 and a current ratio of 1.23. Owens-Illinois has a 52-week low of $18.39 and a 52-week high of $25.90. The stock has a market capitalization of $3,630.00, a price-to-earnings ratio of 15.06, a P/E/G ratio of 1.16 and a beta of 1.53.
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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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