Owens-Illinois Inc (OI) Expected to Announce Quarterly Sales of $1.77 Billion
Wall Street brokerages expect Owens-Illinois Inc (NYSE:OI) to post sales of $1.77 billion for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Owens-Illinois’ earnings. The lowest sales estimate is $1.74 billion and the highest is $1.82 billion. Owens-Illinois posted sales of $1.79 billion in the same quarter last year, which would indicate a negative year over year growth rate of 1.1%. The firm is expected to report its next earnings results on Monday, October 22nd.
On average, analysts expect that Owens-Illinois will report full year sales of $6.99 billion for the current financial year, with estimates ranging from $6.91 billion to $7.06 billion. For the next financial year, analysts forecast that the firm will report sales of $6.99 billion per share, with estimates ranging from $6.82 billion to $7.14 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Owens-Illinois.
Owens-Illinois (NYSE:OI) last posted its quarterly earnings results on Monday, July 23rd. The industrial products company reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.03. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Owens-Illinois had a return on equity of 45.52% and a net margin of 2.01%. During the same period last year, the firm earned $0.75 earnings per share.
NYSE:OI opened at $17.80 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.76 and a debt-to-equity ratio of 5.98. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 6.72, a price-to-earnings-growth ratio of 1.00 and a beta of 1.42. Owens-Illinois has a 52 week low of $16.22 and a 52 week high of $25.90.
Several institutional investors have recently modified their holdings of the company. IFP Advisors Inc grew its position in shares of Owens-Illinois by 18.1% during the first quarter. IFP Advisors Inc now owns 22,600 shares of the industrial products company’s stock valued at $490,000 after purchasing an additional 3,457 shares in the last quarter. Mutual of America Capital Management LLC grew its position in shares of Owens-Illinois by 2.7% during the second quarter. Mutual of America Capital Management LLC now owns 138,969 shares of the industrial products company’s stock valued at $2,336,000 after purchasing an additional 3,718 shares in the last quarter. Systematic Financial Management LP grew its position in shares of Owens-Illinois by 6.4% during the first quarter. Systematic Financial Management LP now owns 63,290 shares of the industrial products company’s stock valued at $1,371,000 after purchasing an additional 3,825 shares in the last quarter. Sei Investments Co. grew its position in shares of Owens-Illinois by 56.3% during the first quarter. Sei Investments Co. now owns 11,665 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 4,200 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. grew its position in shares of Owens-Illinois by 10.2% during the first quarter. Canandaigua National Bank & Trust Co. now owns 46,996 shares of the industrial products company’s stock valued at $1,018,000 after purchasing an additional 4,352 shares in the last quarter. Hedge funds and other institutional investors own 93.35% of the company’s stock.
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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