O-I Glass, Inc. to Post Q1 2024 Earnings of $0.34 Per Share, Zacks Research Forecasts (NYSE:OI)

O-I Glass, Inc. (NYSE:OI) – Research analysts at Zacks Research cut their Q1 2024 earnings per share estimates for O-I Glass in a research report issued to clients and investors on Tuesday, April 16th. Zacks Research analyst M. Das now expects that the industrial products company will earn $0.34 per share for the quarter, down from their prior forecast of $0.35. The consensus estimate for O-I Glass’ current full-year earnings is $2.38 per share. Zacks Research also issued estimates for O-I Glass’ Q2 2024 earnings at $0.75 EPS, Q3 2024 earnings at $0.84 EPS, Q4 2024 earnings at $0.47 EPS, FY2024 earnings at $2.40 EPS, Q1 2025 earnings at $0.51 EPS, Q2 2025 earnings at $0.77 EPS, Q3 2025 earnings at $0.69 EPS, Q4 2025 earnings at $0.69 EPS and FY2025 earnings at $2.66 EPS.

O-I Glass (NYSE:OI) last issued its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the firm posted $0.38 EPS. The firm’s quarterly revenue was down 3.1% on a year-over-year basis.

OI has been the topic of a number of other reports. StockNews.com lowered O-I Glass from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. TheStreet lowered O-I Glass from a “b-” rating to a “c-” rating in a research report on Tuesday, February 6th. Citigroup cut O-I Glass from a “buy” rating to a “neutral” rating and raised their target price for the company from $17.00 to $18.00 in a research note on Wednesday, January 3rd. UBS Group started coverage on O-I Glass in a research note on Tuesday, January 16th. They issued a “buy” rating and a $26.00 target price for the company. Finally, Truist Financial restated a “buy” rating and issued a $20.00 target price on shares of O-I Glass in a research note on Monday, March 25th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.00.

O-I Glass Price Performance

Shares of O-I Glass stock opened at $15.09 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 2.69. The firm has a market capitalization of $2.35 billion, a PE ratio of -20.12, a price-to-earnings-growth ratio of 1.05 and a beta of 1.35. The business’s 50-day moving average price is $16.19 and its 200-day moving average price is $15.66. O-I Glass has a 12 month low of $13.56 and a 12 month high of $23.57.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Covestor Ltd raised its stake in O-I Glass by 259.7% in the 3rd quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 1,205 shares during the last quarter. Belpointe Asset Management LLC grew its position in O-I Glass by 109.4% during the 1st quarter. Belpointe Asset Management LLC now owns 1,518 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 793 shares during the period. Lazard Asset Management LLC acquired a new stake in O-I Glass during the 1st quarter worth about $34,000. TFO Wealth Partners LLC grew its position in O-I Glass by 24,311.1% during the 4th quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 2,188 shares during the period. Finally, Quarry LP grew its position in O-I Glass by 499.3% during the 1st quarter. Quarry LP now owns 1,744 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 1,453 shares during the period. Institutional investors own 97.24% of the company’s stock.

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.