O-I Glass (NYSE:OI) Releases FY24 Earnings Guidance

by · The Markets Daily

O-I Glass (NYSE:OI – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.70-0.80 for the period, compared to the consensus EPS estimate of $1.13. O-I Glass also updated its FY 2024 guidance to 0.700-0.800 EPS.

Wall Street Analyst Weigh In

A number of research firms have commented on OI. Barclays reduced their price target on O-I Glass from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Truist Financial reiterated a “buy” rating and set a $16.00 price objective (down from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird lowered their price objective on O-I Glass from $22.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Finally, Bank of America upgraded O-I Glass from a “neutral” rating to a “buy” rating and upped their target price for the company from $14.00 to $16.00 in a research report on Thursday, October 17th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.63.

Get Our Latest Research Report on O-I Glass

O-I Glass Stock Down 7.2 %

OI stock traded down $0.89 during trading on Wednesday, reaching $11.55. The stock had a trading volume of 3,589,017 shares, compared to its average volume of 1,690,262. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 2.85. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -7.35 and a beta of 1.17. O-I Glass has a one year low of $10.08 and a one year high of $17.58. The company’s 50 day moving average is $12.73 and its two-hundred day moving average is $12.48.

O-I Glass (NYSE:OI – Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.07). The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. O-I Glass had a negative net margin of 4.32% and a positive return on equity of 15.64%. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 EPS. Equities research analysts forecast that O-I Glass will post 1.11 EPS for the current year.

Insider Buying and Selling

In other O-I Glass news, Director John Humphrey bought 15,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were acquired at an average price of $11.30 per share, with a total value of $169,500.00. Following the acquisition, the director now directly owns 84,227 shares of the company’s stock, valued at $951,765.10. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.49% of the stock is currently owned by insiders.

O-I Glass Company Profile

(Get Free Report)

O-I Glass, Inc, through its subsidiaries, engages in the manufacture and sale of glass containers to food and beverage manufacturers primarily in the Americas, Europe, and internationally. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.

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