O-I Glass (NYSE:OI) Posts Quarterly Earnings Results

by · The Markets Daily

O-I Glass (NYSE:OI – Get Free Report) issued its earnings results on Tuesday. The industrial products company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.25), FiscalAI reports. O-I Glass had a negative net margin of 18.13% and a positive return on equity of 10.40%. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.64 billion.

O-I Glass Stock Up 0.1%

NYSE:OI traded up $0.01 during mid-day trading on Tuesday, hitting $6.45. 6,086,941 shares of the company’s stock were exchanged, compared to its average volume of 2,883,464. The company has a market cap of $990.65 million, a PE ratio of -0.86, a P/E/G ratio of 2.49 and a beta of 0.68. The company has a debt-to-equity ratio of 8.89, a current ratio of 1.26 and a quick ratio of 0.77. O-I Glass has a one year low of $5.30 and a one year high of $16.91. The business has a fifty day moving average price of $6.35 and a 200 day moving average price of $9.73.

Analyst Ratings Changes

Several research analysts have recently weighed in on OI shares. Wells Fargo & Company cut their price target on O-I Glass from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. UBS Group cut O-I Glass from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $11.00 to $6.00 in a research note on Monday, October 5th. BNP Paribas Exane downgraded shares of O-I Glass from an “outperform” rating to a “neutral” rating and set a $8.50 price objective on the stock. in a report on Thursday, July 30th. Citigroup raised shares of O-I Glass from a “neutral” rating to a “buy” rating and upped their price objective for the company from $8.00 to $9.00 in a report on Friday, August 21st. Finally, Zacks Research upgraded O-I Glass from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.06.

View Our Latest Analysis on OI

About O-I Glass

(Get Free Report)

O-I Glass, Inc is a global manufacturer of glass packaging products. The company produces glass bottles and jars primarily for the food, beverage, beer, wine, spirits, and pharmaceutical industries, serving brand owners and consumer-products companies.

Its products are designed to provide packaging, preservation, and presentation for a range of consumer goods. O-I also offers glass packaging in various shapes, sizes, and colors, including custom solutions developed for individual brands.

The company traces its history to the Owens Bottle Company, founded in 1903, and the Illinois Glass Company.

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