Owens-Illinois (NYSE:OI) released its earnings results on Monday. The industrial products company reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.01), RTT News reports. Owens-Illinois had a net margin of 3.76% and a return on equity of 39.73%. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the prior year, the company earned $0.75 EPS. The firm’s revenue was down 1.8% compared to the same quarter last year. Owens-Illinois updated its Q4 guidance to $0.45-0.50 EPS and its FY19 guidance to $2.20-2.25 EPS.
Shares of NYSE:OI traded up $0.17 on Monday, reaching $10.87. 2,573,949 shares of the company traded hands, compared to its average volume of 1,487,724. The business’s 50-day simple moving average is $10.01 and its 200 day simple moving average is $14.38. Owens-Illinois has a 52 week low of $8.91 and a 52 week high of $20.78. The stock has a market capitalization of $1.69 billion, a P/E ratio of 4.00, a price-to-earnings-growth ratio of 1.39 and a beta of 1.52. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 5.72.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.84%. Owens-Illinois’s dividend payout ratio (DPR) is currently 7.35%.
In other news, Director Carol A. Williams bought 10,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $12.21 per share, for a total transaction of $122,100.00. Following the completion of the acquisition, the director now owns 60,761 shares in the company, valued at approximately $741,891.81. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is currently owned by company insiders.
A number of research analysts have recently issued reports on the company. UBS Group reduced their price objective on Owens-Illinois from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Bank of America cut Owens-Illinois from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. KeyCorp reduced their price objective on Owens-Illinois from $16.00 to $11.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Wells Fargo & Co reduced their price objective on Owens-Illinois from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Finally, Credit Suisse Group reduced their price objective on Owens-Illinois from $24.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.10.
Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Americas, Europe, and Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. The company is also involved in the production of glass packaging for various food items, soft drinks, teas, juices, and pharmaceuticals.
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