Owens-Illinois, Inc. (NYSE:OI) – Jefferies Group raised their FY2017 EPS estimates for Owens-Illinois in a report issued on Wednesday. Jefferies Group analyst P. Ng now expects that the industrial products company will post earnings per share of $2.62 for the year, up from their prior estimate of $2.51. Jefferies Group has a “Hold” rating and a $27.00 price target on the stock. Jefferies Group also issued estimates for Owens-Illinois’ Q4 2017 earnings at $0.55 EPS and FY2018 earnings at $2.80 EPS.
Owens-Illinois (NYSE:OI) last posted its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.77 billion. Owens-Illinois had a net margin of 3.36% and a return on equity of 82.33%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business posted $0.65 EPS.
Several other equities analysts have also weighed in on the stock. BidaskClub lowered shares of Owens-Illinois from a “buy” rating to a “hold” rating in a research report on Monday. Royal Bank Of Canada reissued a “hold” rating and issued a $24.00 price objective on shares of Owens-Illinois in a research report on Friday, July 14th. ValuEngine raised shares of Owens-Illinois from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Finally, Zacks Investment Research lowered shares of Owens-Illinois from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $26.11.
Shares of Owens-Illinois (OI) opened at 24.70 on Thursday. Owens-Illinois has a 52-week low of $16.80 and a 52-week high of $25.02. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 21.22 and a beta of 1.50. The firm has a 50-day moving average of $23.87 and a 200 day moving average of $21.48.
A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Owens-Illinois by 16,329.5% in the first quarter. BlackRock Inc. now owns 14,655,477 shares of the industrial products company’s stock worth $298,679,000 after buying an additional 14,566,275 shares in the last quarter. Norges Bank acquired a new position in Owens-Illinois during the fourth quarter worth approximately $26,472,000. Vanguard Group Inc. raised its position in Owens-Illinois by 7.5% in the first quarter. Vanguard Group Inc. now owns 16,401,514 shares of the industrial products company’s stock worth $334,263,000 after buying an additional 1,139,389 shares in the last quarter. FMR LLC raised its position in Owens-Illinois by 918.1% in the first quarter. FMR LLC now owns 1,053,180 shares of the industrial products company’s stock worth $21,464,000 after buying an additional 949,734 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in Owens-Illinois by 33.6% in the first quarter. Prudential Financial Inc. now owns 3,776,681 shares of the industrial products company’s stock worth $76,969,000 after buying an additional 949,286 shares in the last quarter. 95.50% of the stock is currently owned by institutional investors and hedge funds.
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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