Brokerages expect that Owens-Illinois Inc (NYSE:OI) will post $1.71 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Owens-Illinois’ earnings. The highest sales estimate is $1.74 billion and the lowest is $1.67 billion. Owens-Illinois posted sales of $1.62 billion during the same quarter last year, which suggests a positive year over year growth rate of 5.6%. The company is expected to issue its next earnings results on Monday, April 23rd.
According to Zacks, analysts expect that Owens-Illinois will report full-year sales of $1.71 billion for the current fiscal year, with estimates ranging from $7.01 billion to $7.19 billion. For the next year, analysts anticipate that the firm will report sales of $7.16 billion per share, with estimates ranging from $7.01 billion to $7.35 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Owens-Illinois.
Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. Owens-Illinois had a return on equity of 53.60% and a net margin of 2.65%. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the business posted $0.50 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis.
Several research analysts have recently commented on OI shares. 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 report on Wednesday, October 25th. Robert W. Baird lifted their target price on Owens-Illinois from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Zacks Investment Research upgraded Owens-Illinois from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. KeyCorp reiterated a “hold” rating on shares of Owens-Illinois in a report on Friday, November 10th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $26.00 target price on shares of Owens-Illinois in a report on Thursday, December 14th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $26.00.
Large investors have recently made changes to their positions in the company. Advisors Preferred LLC boosted its stake in shares of Owens-Illinois by 366.7% during the 4th quarter. Advisors Preferred LLC now owns 5,498 shares of the industrial products company’s stock worth $122,000 after acquiring an additional 4,320 shares in the last quarter. Sei Investments Co. raised its position in shares of Owens-Illinois by 61.2% during the 3rd quarter. Sei Investments Co. now owns 7,376 shares of the industrial products company’s stock worth $186,000 after purchasing an additional 2,799 shares during the last quarter. Biltmore Wealth Management LLC acquired a new position in shares of Owens-Illinois during the 3rd quarter worth approximately $201,000. Neuberger Berman Group LLC acquired a new position in shares of Owens-Illinois during the 3rd quarter worth approximately $211,000. Finally, Tower Research Capital LLC TRC acquired a new position in shares of Owens-Illinois during the 4th quarter worth approximately $188,000. 95.64% of the stock is currently owned by institutional investors and hedge funds.
Owens-Illinois (NYSE:OI) traded up $0.15 on Thursday, hitting $21.85. The stock had a trading volume of 958,430 shares, compared to its average volume of 1,620,000. Owens-Illinois has a 1-year low of $19.12 and a 1-year high of $25.90. The stock has a market capitalization of $3,560.00, a price-to-earnings ratio of 21.01, a P/E/G ratio of 1.17 and a beta of 1.46. The company has a debt-to-equity ratio of 5.52, a quick ratio of 0.61 and a current ratio of 1.06.
Owens-Illinois announced that its Board of Directors has authorized a share buyback plan on Tuesday, February 6th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
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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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