Analysts Anticipate O-I Glass, Inc. (NYSE:OI) Will Post Earnings of $0.59 Per Share

Analysts predict that O-I Glass, Inc. (NYSE:OIGet Rating) will report earnings of $0.59 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for O-I Glass’ earnings. The highest EPS estimate is $0.60 and the lowest is $0.57. O-I Glass reported earnings per share of $0.54 in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.3%. The company is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that O-I Glass will report full-year earnings of $2.04 per share for the current financial year, with EPS estimates ranging from $2.02 to $2.05. For the next financial year, analysts anticipate that the firm will report earnings of $2.12 per share, with EPS estimates ranging from $2.00 to $2.20. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow O-I Glass.

O-I Glass (NYSE:OIGet Rating) last issued its quarterly earnings data on Monday, April 25th. The industrial products company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.54 billion. O-I Glass had a net margin of 5.10% and a return on equity of 43.72%. The company’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 earnings per share.

OI has been the subject of several research analyst reports. StockNews.com upgraded shares of O-I Glass from a “hold” rating to a “buy” rating in a research report on Friday, May 6th. Barclays upped their price objective on shares of O-I Glass from $14.00 to $15.00 in a research note on Monday, May 2nd. TheStreet raised shares of O-I Glass from a “c-” rating to a “b-” rating in a research note on Monday, April 25th. Credit Suisse Group started coverage on shares of O-I Glass in a research note on Friday, January 28th. They set an “outperform” rating and a $18.00 price objective for the company. Finally, Bank of America cut shares of O-I Glass from a “buy” rating to a “neutral” rating and set a $14.00 price objective for the company. in a research note on Thursday, April 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $15.70.

Shares of OI traded down $0.35 during mid-day trading on Tuesday, hitting $14.18. 771,274 shares of the company were exchanged, compared to its average volume of 1,069,052. O-I Glass has a 1-year low of $10.64 and a 1-year high of $19.46. The company has a debt-to-equity ratio of 4.19, a quick ratio of 0.94 and a current ratio of 1.42. The company has a 50 day moving average of $13.32 and a 200-day moving average of $12.80. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 6.82, a price-to-earnings-growth ratio of 1.00 and a beta of 1.46.

Several institutional investors have recently bought and sold shares of the company. Marshall Wace North America L.P. acquired a new stake in O-I Glass during the 1st quarter worth approximately $25,000. Prospera Financial Services Inc acquired a new stake in O-I Glass during the 1st quarter worth approximately $33,000. Lazard Asset Management LLC acquired a new stake in O-I Glass during the 1st quarter worth approximately $34,000. First Quadrant LLC CA acquired a new stake in O-I Glass during the 1st quarter worth approximately $40,000. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in O-I Glass by 24.3% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,200 shares of the industrial products company’s stock worth $60,000 after buying an additional 822 shares in the last quarter. 91.04% of the stock is owned by institutional investors and hedge funds.

About O-I Glass (Get Rating)

O-I Glass, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in the Americas, Europe, and the Asia Pacific. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. It is also involved in the production of glass packaging for various food items, soft drinks, tea, juices, and pharmaceuticals.

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Earnings History and Estimates for O-I Glass (NYSE:OI)

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