Zacks: Brokerages Anticipate Owens-Illinois Inc (NYSE:OI) Will Post Quarterly Sales of $1.78 Billion
Equities analysts predict that Owens-Illinois Inc (NYSE:OI) will post sales of $1.78 billion for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Owens-Illinois’ earnings, with the highest sales estimate coming in at $1.81 billion and the lowest estimate coming in at $1.76 billion. Owens-Illinois reported sales of $1.73 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 2.9%. The company is expected to report its next earnings results on Tuesday, October 29th.
According to Zacks, analysts expect that Owens-Illinois will report full-year sales of $6.87 billion for the current year, with estimates ranging from $6.82 billion to $6.91 billion. For the next fiscal year, analysts forecast that the company will post sales of $6.99 billion, with estimates ranging from $6.82 billion to $7.15 billion. Zacks’ 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 Wednesday, July 31st. The industrial products company reported $0.69 earnings per share (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 return on equity of 39.73% and a net margin of 3.76%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share.
In other news, Director Carol A. Williams purchased 10,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $12.21 per share, for a total transaction of $122,100.00. Following the purchase, the director now directly owns 60,761 shares in the company, valued at approximately $741,891.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.90% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. AlphaOne Investment Services LLC raised its position in Owens-Illinois by 445.2% in the second quarter. AlphaOne Investment Services LLC now owns 16,442 shares of the industrial products company’s stock valued at $284,000 after purchasing an additional 13,426 shares during the period. Banco de Sabadell S.A bought a new stake in shares of Owens-Illinois during the second quarter valued at approximately $704,000. Grantham Mayo Van Otterloo & Co. LLC bought a new stake in shares of Owens-Illinois during the second quarter valued at approximately $2,572,000. Meadow Creek Investment Management LLC raised its holdings in shares of Owens-Illinois by 47.0% during the second quarter. Meadow Creek Investment Management LLC now owns 48,334 shares of the industrial products company’s stock valued at $835,000 after buying an additional 15,444 shares during the last quarter. Finally, Glen Harbor Capital Management LLC raised its holdings in Owens-Illinois by 47.0% during the second quarter. Glen Harbor Capital Management LLC now owns 61,516 shares of the industrial products company’s stock worth $1,063,000 after purchasing an additional 19,656 shares in the last quarter. 91.17% of the stock is currently owned by institutional investors and hedge funds.
Shares of Owens-Illinois stock traded up $0.21 during trading hours on Thursday, hitting $11.54. 1,886,636 shares of the company’s stock traded hands, compared to its average volume of 1,285,448. The stock has a market cap of $1.81 billion, a P/E ratio of 4.24, a PEG ratio of 1.45 and a beta of 1.41. Owens-Illinois has a twelve month low of $11.23 and a twelve month high of $20.78. The stock has a 50 day moving average of $15.83. 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.20 annualized dividend and a yield of 1.73%. Owens-Illinois’s payout ratio is 7.35%.
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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