Owens-Illinois Inc (NYSE:OI) – KeyCorp issued their Q1 2018 EPS estimates for Owens-Illinois in a research report issued on Wednesday. KeyCorp analyst A. Josephson anticipates that the industrial products company will post earnings of $0.58 per share for the quarter. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Owens-Illinois’ Q2 2018 earnings at $0.76 EPS, Q3 2018 earnings at $0.83 EPS, Q4 2018 earnings at $0.63 EPS, FY2018 earnings at $2.80 EPS and FY2019 earnings at $2.88 EPS.

Owens-Illinois (NYSE:OI) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.01. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.72 billion. Owens-Illinois had a return on equity of 53.60% and a net margin of 2.65%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company earned $0.50 EPS.

Several other analysts also recently issued reports on the company. Zacks Investment Research raised Owens-Illinois from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $26.00 price objective on shares of Owens-Illinois in a research note on Thursday, December 14th. TheStreet downgraded Owens-Illinois from a “b” rating to a “c+” rating in a research note on Wednesday, October 25th. UBS Group reaffirmed a “neutral” rating and issued a $27.00 price objective (up previously from $26.00) on shares of Owens-Illinois in a research note on Tuesday, October 24th. Finally, Bank of America lifted their price objective on Owens-Illinois from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $26.15.

Shares of Owens-Illinois (OI) opened at $21.07 on Friday. The stock has a market capitalization of $3,430.00, a P/E ratio of 18.98, a P/E/G ratio of 1.21 and a beta of 1.46. Owens-Illinois has a 12 month low of $19.12 and a 12 month high of $25.90. The company has a debt-to-equity ratio of 5.52, a quick ratio of 0.74 and a current ratio of 1.06.

Owens-Illinois declared that its Board of Directors has approved a share buyback program on Tuesday, February 6th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Several institutional investors have recently made changes to their positions in OI. Alliancebernstein L.P. boosted its holdings in shares of Owens-Illinois by 9.6% in the 2nd quarter. Alliancebernstein L.P. now owns 109,724 shares of the industrial products company’s stock worth $2,625,000 after purchasing an additional 9,650 shares during the period. Northern Trust Corp boosted its holdings in shares of Owens-Illinois by 0.3% in the 2nd quarter. Northern Trust Corp now owns 1,506,408 shares of the industrial products company’s stock worth $36,034,000 after purchasing an additional 4,383 shares during the period. FMR LLC boosted its holdings in shares of Owens-Illinois by 37.4% in the 2nd quarter. FMR LLC now owns 1,446,740 shares of the industrial products company’s stock worth $34,606,000 after purchasing an additional 393,560 shares during the period. Suntrust Banks Inc. boosted its holdings in shares of Owens-Illinois by 8.4% in the 2nd quarter. Suntrust Banks Inc. now owns 16,604 shares of the industrial products company’s stock worth $395,000 after purchasing an additional 1,290 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Owens-Illinois by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,437,844 shares of the industrial products company’s stock worth $34,393,000 after purchasing an additional 70,084 shares during the period. Hedge funds and other institutional investors own 94.88% of the company’s stock.

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About Owens-Illinois

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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