Equities research analysts expect that Owens-Illinois Inc (NYSE:OI) will announce sales of $1.83 billion for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Owens-Illinois’ earnings, with estimates ranging from $1.79 billion to $1.88 billion. Owens-Illinois reported sales of $1.75 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 4.6%. The firm is expected to issue its next quarterly earnings results after the market closes on Monday, July 23rd.
On average, analysts expect that Owens-Illinois will report full year sales of $7.13 billion for the current fiscal year, with estimates ranging from $7.02 billion to $7.28 billion. For the next fiscal year, analysts expect that the business will post sales of $7.16 billion per share, with estimates ranging from $7.00 billion to $7.35 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Owens-Illinois.
Get Owens-Illinois alerts:Owens-Illinois (NYSE:OI) last announced its quarterly earnings data on Monday, April 23rd. The industrial products company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.01. Owens-Illinois had a net margin of 3.30% and a return on equity of 46.76%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the firm posted $0.58 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year.
A number of brokerages have commented on OI. 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 research report on Wednesday, June 27th. Zacks Investment Research downgraded shares of Owens-Illinois from a “hold” rating to a “sell” rating in a research report on Friday, June 22nd. ValuEngine downgraded shares of Owens-Illinois from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 16th. Wells Fargo & Co dropped their target price on shares of Owens-Illinois from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 25th. Finally, TheStreet raised shares of Owens-Illinois from a “c” rating to a “b-” rating in a research report on Monday, April 23rd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $25.08.
A number of institutional investors have recently modified their holdings of OI. Wells Fargo & Company MN grew its position in Owens-Illinois by 24.3% during the 4th quarter. Wells Fargo & Company MN now owns 354,289 shares of the industrial products company’s stock worth $7,854,000 after purchasing an additional 69,313 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Owens-Illinois by 12.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 270,105 shares of the industrial products company’s stock worth $5,988,000 after purchasing an additional 30,789 shares during the last quarter. Arizona State Retirement System grew its position in Owens-Illinois by 27.1% during the 4th quarter. Arizona State Retirement System now owns 117,318 shares of the industrial products company’s stock worth $2,601,000 after purchasing an additional 25,014 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in Owens-Illinois by 10.0% during the 4th quarter. UBS Asset Management Americas Inc. now owns 213,156 shares of the industrial products company’s stock worth $4,726,000 after purchasing an additional 19,421 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Owens-Illinois during the 4th quarter worth $306,000. 94.32% of the stock is currently owned by institutional investors.
Shares of NYSE:OI traded up $0.17 during trading hours on Monday, reaching $16.86. The stock had a trading volume of 1,784,852 shares, compared to its average volume of 1,502,557. Owens-Illinois has a 1 year low of $16.22 and a 1 year high of $25.90. The company has a current ratio of 1.33, a quick ratio of 0.82 and a debt-to-equity ratio of 5.04. The company has a market cap of $2.70 billion, a PE ratio of 6.36, a P/E/G ratio of 1.10 and a beta of 1.42.
About Owens-Illinois
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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