Brokerages expect that Owens-Illinois Inc (NYSE:OI) will report $1.76 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Owens-Illinois’ earnings, with the lowest sales estimate coming in at $1.71 billion and the highest estimate coming in at $1.82 billion. Owens-Illinois reported sales of $1.79 billion during the same quarter last year, which would indicate a negative year over year growth rate of 1.7%. The business is expected to announce its next earnings report after the market closes on Tuesday, October 30th.

According to Zacks, analysts expect that Owens-Illinois will report full-year sales of $6.96 billion for the current year, with estimates ranging from $6.89 billion to $7.06 billion. For the next financial year, analysts anticipate that the firm will report sales of $6.95 billion, with estimates ranging from $6.82 billion to $7.14 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Owens-Illinois.

Owens-Illinois (NYSE:OI) last posted its earnings results on Monday, July 23rd. The industrial products company reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.03. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.81 billion. Owens-Illinois had a net margin of 2.01% and a return on equity of 45.52%. During the same period last year, the business posted $0.75 earnings per share.

A number of equities research analysts recently commented on OI shares. Zacks Investment Research lowered shares of Owens-Illinois from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. Bank of America set a $22.00 price objective on shares of Owens-Illinois and gave the stock a “hold” rating in a report on Wednesday, July 25th. Robert W. Baird dropped their price objective on shares of Owens-Illinois from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, July 25th. Citigroup dropped their price objective on shares of Owens-Illinois from $29.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, July 10th. Finally, Barclays dropped their price objective on shares of Owens-Illinois from $25.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Owens-Illinois presently has a consensus rating of “Hold” and an average price target of $23.99.

Hedge funds have recently modified their holdings of the business. TLP Group LLC increased its stake in Owens-Illinois by 188,750.0% in the 1st quarter. TLP Group LLC now owns 7,554 shares of the industrial products company’s stock valued at $164,000 after buying an additional 7,550 shares during the last quarter. Point72 Hong Kong Ltd increased its stake in Owens-Illinois by 99,050.0% in the 2nd quarter. Point72 Hong Kong Ltd now owns 7,932 shares of the industrial products company’s stock valued at $133,000 after buying an additional 7,924 shares during the last quarter. Hartford Investment Management Co. acquired a new stake in Owens-Illinois in the 2nd quarter valued at $168,000. Fox Run Management L.L.C. acquired a new stake in Owens-Illinois in the 2nd quarter valued at $172,000. Finally, We Are One Seven LLC acquired a new stake in Owens-Illinois in the 3rd quarter valued at $211,000. Hedge funds and other institutional investors own 93.05% of the company’s stock.

OI opened at $17.64 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 firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 6.59, a PEG ratio of 1.04 and a beta of 1.40. Owens-Illinois has a twelve month low of $16.22 and a twelve month high of $25.90.

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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