Owens-Illinois (NYSE:OI) updated its second quarter earnings guidance on Monday. The company provided EPS guidance of ~$0.75 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.75. Owens-Illinois also updated its FY18 guidance to $2.75-$2.85 EPS.

A number of research firms have commented on OI. Zacks Investment Research lowered Owens-Illinois from a hold rating to a sell rating in a research report on Monday, January 29th. Vertical Research upgraded Owens-Illinois to a buy rating and set a $27.00 target price on the stock in a research report on Wednesday, February 7th. ValuEngine upgraded Owens-Illinois from a hold rating to a buy rating in a research report on Wednesday, March 7th. Finally, Wells Fargo cut their target price on Owens-Illinois from $24.00 to $23.00 and set a market perform rating on the stock in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $25.91.

Shares of Owens-Illinois stock traded up $0.04 on Monday, hitting $21.67. The company had a trading volume of 1,182,207 shares, compared to its average volume of 1,358,884. The company has a market cap of $3,528.02, a PE ratio of 8.18, a price-to-earnings-growth ratio of 1.36 and a beta of 1.40. Owens-Illinois has a 1 year low of $20.41 and a 1 year high of $25.90. The company has a quick ratio of 0.61, a current ratio of 1.06 and a debt-to-equity ratio of 5.52.

Owens-Illinois (NYSE:OI) last issued its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. The firm had revenue of $1.70 billion during 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 company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 earnings per share. research analysts anticipate that Owens-Illinois will post 2.81 EPS for the current year.

Owens-Illinois announced that its Board of Directors has approved a stock repurchase 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 purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other news, SVP Moyano Giancarlo Currarino sold 11,910 shares of the stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $22.57, for a total value of $268,808.70. Following the completion of the sale, the senior vice president now directly owns 28,070 shares of the company’s stock, valued at $633,539.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

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Owens-Illinois Company Profile

Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Europe, North America, Latin America, and the Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.

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