Q4 Earnings Forecast for O-I Glass Issued By Zacks Research

O-I Glass, Inc. (NYSE:OI) – Stock analysts at Zacks Research upped their Q4 2027 EPS estimates for O-I Glass in a research note issued on Thursday, August 27th. Zacks Research analyst Team now forecasts that the industrial products company will post earnings of $0.31 per share for the quarter, up from their prior estimate of $0.21. Zacks Research currently has a “Hold” rating on the stock. The consensus estimate for O-I Glass’ current full-year earnings is $0.39 per share.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.15). O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%.The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the company posted $0.53 earnings per share. The firm’s quarterly revenue was down 2.2% on a year-over-year basis.

Several other analysts have also recently weighed in on OI. Citigroup upgraded O-I Glass from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $8.00 to $9.00 in a report on Friday, August 21st. Weiss Ratings raised shares of O-I Glass from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 14th. Robert W. Baird set a $13.00 price target on shares of O-I Glass in a research report on Thursday, July 30th. Bank of America reaffirmed an “underperform” rating and set a $11.00 price target on shares of O-I Glass in a research note on Tuesday, July 14th. Finally, BNP Paribas Exane downgraded O-I Glass from an “outperform” rating to a “neutral” rating and set a $8.50 price objective for the company. in a report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.31.

O-I Glass Price Performance

Shares of OI opened at $7.30 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 8.89. The stock has a market cap of $1.12 billion, a PE ratio of -0.97, a PEG ratio of 2.63 and a beta of 0.66. O-I Glass has a 12-month low of $6.29 and a 12-month high of $16.91. The business has a 50-day simple moving average of $8.29 and a two-hundred day simple moving average of $9.74.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OI. Farther Finance Advisors LLC boosted its stake in shares of O-I Glass by 87.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 830 shares during the last quarter. Headlands Technologies LLC bought a new position in O-I Glass during the second quarter worth $29,000. Quarry LP bought a new position in O-I Glass during the fourth quarter worth $32,000. Caitong International Asset Management Co. Ltd lifted its holdings in O-I Glass by 36,533.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock valued at $32,000 after buying an additional 2,192 shares during the period. Finally, State of Wyoming acquired a new position in O-I Glass in the second quarter valued at $35,000. Institutional investors own 97.24% of the company’s stock.

About O-I Glass

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.