O-I Glass (NYSE:OI) Issues FY 2024 Earnings Guidance

O-I Glass (NYSE:OIGet Rating) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.20-$2.40 for the period. The company issued revenue guidance of -. O-I Glass also updated its FY 2022 guidance to $2.10-$2.25 EPS.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on O-I Glass from $16.00 to $13.00 in a research note on Tuesday, July 19th. Royal Bank of Canada lifted their target price on O-I Glass from $14.00 to $16.00 in a research report on Wednesday, June 8th. Credit Suisse Group lifted their target price on O-I Glass from $18.00 to $21.00 and gave the company an outperform rating in a research note on Thursday, June 9th. Bank of America raised O-I Glass from a neutral rating to a buy rating and upped their price target for the company from $15.00 to $19.00 in a report on Friday, May 27th. Finally, Barclays cut shares of O-I Glass from an equal weight rating to an underweight rating and lowered their price objective for the stock from $15.00 to $13.00 in a research report on Monday, July 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $15.22.

O-I Glass Stock Down 3.8 %

NYSE OI traded down $0.48 on Friday, hitting $12.15. 12,120 shares of the company were exchanged, compared to its average volume of 938,085. O-I Glass has a 12 month low of $10.64 and a 12 month high of $17.94. The company has a market cap of $1.89 billion, a PE ratio of 4.30, a PEG ratio of 1.28 and a beta of 1.44. The stock has a fifty day moving average of $13.71 and a 200-day moving average of $13.84. The company has a current ratio of 1.47, a quick ratio of 1.03 and a debt-to-equity ratio of 3.52.

O-I Glass (NYSE:OIGet Rating) last posted its earnings results on Tuesday, August 2nd. The industrial products company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.08. O-I Glass had a net margin of 7.02% and a return on equity of 37.89%. During the same period in the prior year, the business earned $0.54 earnings per share. As a group, analysts forecast that O-I Glass will post 2.15 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Baird Financial Group Inc. lifted its stake in shares of O-I Glass by 10.8% in the 1st quarter. Baird Financial Group Inc. now owns 19,393 shares of the industrial products company’s stock worth $256,000 after purchasing an additional 1,887 shares during the period. Yousif Capital Management LLC lifted its position in O-I Glass by 1.6% in the first quarter. Yousif Capital Management LLC now owns 152,609 shares of the industrial products company’s stock worth $2,011,000 after buying an additional 2,330 shares during the last quarter. Hsbc Holdings PLC lifted its position in O-I Glass by 4.8% in the first quarter. Hsbc Holdings PLC now owns 53,039 shares of the industrial products company’s stock worth $707,000 after buying an additional 2,442 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of O-I Glass during the first quarter worth $34,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of O-I Glass by 4.5% during the first quarter. PNC Financial Services Group Inc. now owns 74,856 shares of the industrial products company’s stock worth $986,000 after purchasing an additional 3,197 shares during the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

O-I Glass Company Profile

(Get Rating)

O-I Glass, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in the Americas, Europe, and the Asia Pacific. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. It is also involved in the production of glass packaging for various food items, soft drinks, tea, juices, and pharmaceuticals.

Read More

Earnings History and Estimates for O-I Glass (NYSE:OI)

Receive News & Ratings for O-I Glass Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for O-I Glass and related companies with MarketBeat.com's FREE daily email newsletter.