Owens-Illinois (NYSE:OI) Updates FY 2019 Earnings Guidance
Owens-Illinois (NYSE:OI) updated its FY 2019 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.40-2.55 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.45. Owens-Illinois also updated its Q3 2019 guidance to $0.52-0.55 EPS.
OI has been the subject of several research reports. Bank of America downgraded shares of Owens-Illinois from a buy rating to a neutral rating in a research note on Friday, August 2nd. KeyCorp decreased their price objective on shares of Owens-Illinois from $16.00 to $11.00 and set an underweight rating for the company in a research report on Friday, August 2nd. Goldman Sachs Group upgraded shares of Owens-Illinois from a sell rating to a neutral rating and decreased their price objective for the stock from $17.00 to $13.00 in a research report on Monday, August 5th. UBS Group dropped their price target on shares of Owens-Illinois from $14.00 to $12.00 and set a neutral rating on the stock in a research report on Wednesday. Finally, Credit Suisse Group dropped their price target on shares of Owens-Illinois from $24.00 to $19.00 and set an outperform rating on the stock in a research report on Monday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Owens-Illinois presently has an average rating of Hold and a consensus price target of $17.70.
Shares of OI opened at $10.44 on Friday. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 3.84, a PEG ratio of 1.37 and a beta of 1.56. The company has a debt-to-equity ratio of 5.72, a quick ratio of 1.00 and a current ratio of 1.53. Owens-Illinois has a fifty-two week low of $9.58 and a fifty-two week high of $20.78. The firm has a 50 day moving average price of $11.87 and a 200-day moving average price of $16.59.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.92%. Owens-Illinois’s payout ratio is 7.35%.
In other Owens-Illinois news, Director Carol A. Williams acquired 10,000 shares of the stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost 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 approximately $741,891.81. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.90% of the company’s stock.
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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