O-I Glass (NYSE:OI – Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $1.50-2.00 for the period, compared to the consensus earnings per share estimate of $2.38. O-I Glass also updated its FY 2024 guidance to 1.500-2.000 EPS.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on OI shares. Bank of America restated a neutral rating and set a $16.00 target price (down from $21.00) on shares of O-I Glass in a research report on Friday, April 19th. TheStreet cut O-I Glass from a b- rating to a c- rating in a report on Tuesday, February 6th. Citigroup cut O-I Glass from a buy rating to a neutral rating and lifted their price objective for the stock from $17.00 to $18.00 in a report on Wednesday, January 3rd. Barclays upped their target price on O-I Glass from $16.00 to $18.00 and gave the company an equal weight rating in a report on Tuesday, February 13th. Finally, StockNews.com lowered shares of O-I Glass from a buy rating to a hold rating in a research report on Thursday, February 15th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $21.75.
Read Our Latest Research Report on OI
O-I Glass Stock Performance
O-I Glass (NYSE:OI – Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.09. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the company earned $0.38 earnings per share. O-I Glass’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, equities research analysts anticipate that O-I Glass will post 2.33 EPS for the current fiscal year.
O-I Glass Company Profile
O-I Glass, Inc, through its subsidiaries, engages in the manufacture and sale of glass containers to food and beverage manufacturers primarily in the Americas, Europe, and internationally. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.
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