Owens-Illinois (NYSE:OI) posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01, Bloomberg Earnings reports. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.72 billion. Owens-Illinois had a return on equity of 53.60% and a net margin of 2.65%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 earnings per share. Owens-Illinois updated its FY18 guidance to $2.75-2.85 EPS.
Owens-Illinois (NYSE OI) opened at $20.98 on Wednesday. The firm has a market capitalization of $3,452.15, a PE ratio of 19.07, a PEG ratio of 1.13 and a beta of 1.46. Owens-Illinois has a 52 week low of $19.12 and a 52 week high of $25.90. The company has a quick ratio of 0.61, a current ratio of 1.06 and a debt-to-equity ratio of 5.52.
Owens-Illinois declared that its board has authorized a stock repurchase plan on Tuesday, February 6th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
A number of analysts recently commented on OI shares. Vertical Research raised Owens-Illinois to a “buy” rating and set a $27.00 price objective on the stock in a research note on Wednesday, February 7th. Bank of America raised their price target on Owens-Illinois from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. TheStreet lowered Owens-Illinois from a “b” rating to a “c+” rating in a research note on Wednesday, October 25th. Royal Bank of Canada reissued a “hold” rating and issued a $26.00 price target on shares of Owens-Illinois in a research note on Thursday, December 14th. Finally, KeyCorp reissued a “hold” rating on shares of Owens-Illinois in a research note on Friday, November 10th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Owens-Illinois has an average rating of “Hold” and an average price target of $26.15.
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Owens-Illinois Company Profile
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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