Owens-Illinois (OI) Updates FY17 Earnings Guidance
Owens-Illinois (NYSE:OI) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.60-2.65 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.64.
Owens-Illinois (OI) opened at $24.22 on Friday. Owens-Illinois has a 52 week low of $17.31 and a 52 week high of $25.90. The stock has a market capitalization of $3,950.00, a price-to-earnings ratio of 8.94, a PEG ratio of 1.21 and a beta of 1.53. The company has a quick ratio of 0.74, a current ratio of 1.23 and a debt-to-equity ratio of 5.73.
Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Monday, October 23rd. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.04. Owens-Illinois had a return on equity of 63.33% and a net margin of 3.59%. The company had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the business posted $0.68 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. research analysts expect that Owens-Illinois will post 2.64 EPS for the current year.
Several research analysts recently weighed in on the company. Royal Bank Of Canada reaffirmed a hold rating and set a $25.00 target price on shares of Owens-Illinois in a research note on Wednesday, September 6th. Bank of America raised their target price on Owens-Illinois from $29.00 to $30.00 and gave the company a buy rating in a research note on Wednesday, October 25th. BidaskClub cut Owens-Illinois from a hold rating to a sell rating in a research note on Saturday, August 12th. KeyCorp reaffirmed a hold rating on shares of Owens-Illinois in a research note on Monday, October 30th. Finally, TheStreet cut Owens-Illinois from a b rating to a c+ rating in a research note on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Hold and a consensus target price of $26.45.
In other news, insider Timothy M. Connors sold 3,500 shares of Owens-Illinois stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $23.86, for a total value of $83,510.00. Following the completion of the sale, the insider now directly owns 19,624 shares of the company’s stock, valued at approximately $468,228.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Moyano Giancarlo Currarino sold 1,360 shares of Owens-Illinois stock in a transaction on Friday, September 8th. The shares were sold at an average price of $23.97, for a total value of $32,599.20. Following the completion of the sale, the senior vice president now directly owns 23,954 shares of the company’s stock, valued at $574,177.38. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
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Owens-Illinois Company Profile
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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