Analysts expect Owens-Illinois Inc (NYSE:OI) to post earnings of $0.76 per share for the current quarter, Zacks reports. Five analysts have issued estimates for Owens-Illinois’ earnings, with the highest EPS estimate coming in at $0.78 and the lowest estimate coming in at $0.71. Owens-Illinois posted earnings of $0.77 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.3%. The company is expected to announce its next earnings report after the market closes on Wednesday, July 31st.

On average, analysts expect that Owens-Illinois will report full year earnings of $2.88 per share for the current fiscal year, with EPS estimates ranging from $2.83 to $2.96. For the next year, analysts forecast that the business will post earnings of $3.15 per share, with EPS estimates ranging from $2.84 to $3.31. 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 issued its earnings results on Wednesday, May 1st. The industrial products company reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.02). The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Owens-Illinois had a net margin of 3.53% and a return on equity of 43.45%. The firm’s revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS.

OI has been the topic of several analyst reports. Wells Fargo & Co reaffirmed a “buy” rating and issued a $115.00 target price on shares of Tractor Supply in a report on Wednesday, May 15th. UFS raised shares of Owens-Illinois from a “neutral” rating to a “buy” rating in a report on Tuesday, April 30th. ValuEngine raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. Finally, Bank of America downgraded shares of Genesee & Wyoming from a “neutral” rating to an “underperform” rating and set a $88.65 target price on the stock. in a report on Tuesday, April 30th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Owens-Illinois has an average rating of “Hold” and an average price target of $21.41.

Shares of NYSE:OI traded up $0.16 during midday trading on Monday, hitting $17.08. The stock had a trading volume of 688,140 shares, compared to its average volume of 1,013,793. The stock has a market cap of $2.63 billion, a P/E ratio of 6.28, a PEG ratio of 0.85 and a beta of 1.43. The company’s 50 day moving average price is $16.96. The company has a quick ratio of 0.83, a current ratio of 1.39 and a debt-to-equity ratio of 5.76. Owens-Illinois has a 1 year low of $15.67 and a 1 year high of $20.78.

Hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. purchased a new stake in Owens-Illinois during the first quarter worth about $25,000. North Star Investment Management Corp. boosted its holdings in Owens-Illinois by 105.7% during the first quarter. North Star Investment Management Corp. now owns 2,160 shares of the industrial products company’s stock worth $41,000 after buying an additional 1,110 shares in the last quarter. Zions Bancorporation N.A. purchased a new stake in Owens-Illinois during the first quarter worth about $46,000. Legacy Advisors LLC purchased a new stake in Owens-Illinois during the first quarter worth about $48,000. Finally, Alpha Omega Wealth Management LLC boosted its holdings in Owens-Illinois by 59.3% during the first quarter. Alpha Omega Wealth Management LLC now owns 2,637 shares of the industrial products company’s stock worth $50,000 after buying an additional 982 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Owens-Illinois Company Profile

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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