Owens-Illinois, Inc. (NYSE:OI) – Equities research analysts at KeyCorp lowered their FY2017 earnings per share estimates for Owens-Illinois in a report released on Monday. KeyCorp analyst A. Josephson now anticipates that the industrial products company will earn $2.64 per share for the year, down from their prior estimate of $2.65. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Owens-Illinois’ Q4 2017 earnings at $0.54 EPS.
Owens-Illinois (NYSE:OI) last issued its quarterly earnings data on Monday, October 23rd. The industrial products company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.04. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. Owens-Illinois had a net margin of 3.59% and a return on equity of 63.33%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 earnings per share.
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Several other equities research analysts have also recently commented on OI. Royal Bank Of Canada restated a “hold” rating and issued a $22.00 target price on shares of Owens-Illinois in a research note on Thursday, July 6th. ValuEngine upgraded Owens-Illinois from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. BidaskClub upgraded Owens-Illinois from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Jefferies Group LLC restated a “hold” rating and issued a $26.00 target price (up previously from $20.00) on shares of Owens-Illinois in a research note on Friday, July 14th. Finally, Barclays PLC boosted their target price on Owens-Illinois from $22.00 to $25.00 and gave the company an “equal weight” rating in a research note on Monday, August 7th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $26.45.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sigma Planning Corp raised its stake in Owens-Illinois by 0.5% in the 2nd quarter. Sigma Planning Corp now owns 21,460 shares of the industrial products company’s stock valued at $513,000 after acquiring an additional 100 shares during the period. Atria Investments LLC raised its stake in Owens-Illinois by 1.3% in the 2nd quarter. Atria Investments LLC now owns 11,342 shares of the industrial products company’s stock valued at $271,000 after acquiring an additional 142 shares during the period. Advisor Group Inc. raised its stake in Owens-Illinois by 0.9% in the 2nd quarter. Advisor Group Inc. now owns 16,417 shares of the industrial products company’s stock valued at $393,000 after acquiring an additional 150 shares during the period. Contravisory Investment Management Inc. raised its stake in Owens-Illinois by 1.5% in the 2nd quarter. Contravisory Investment Management Inc. now owns 13,982 shares of the industrial products company’s stock valued at $334,000 after acquiring an additional 203 shares during the period. Finally, First Allied Advisory Services Inc. raised its stake in Owens-Illinois by 2.4% in the 2nd quarter. First Allied Advisory Services Inc. now owns 11,600 shares of the industrial products company’s stock valued at $277,000 after acquiring an additional 270 shares during the period. Institutional investors and hedge funds own 94.93% of the company’s stock.
In related news, SVP Moyano Giancarlo Currarino sold 1,360 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $23.97, for a total value of $32,599.20. Following the sale, the senior vice president now owns 23,954 shares in the company, valued at approximately $574,177.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sergio B.O. Galindo sold 5,477 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $24.93, for a total value of $136,541.61. Following the completion of the sale, the insider now owns 34,890 shares in the company, valued at approximately $869,807.70. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
Owens-Illinois, Inc is a manufacturer of glass container products. The Company’s principal product lines are glass containers for the food and beverage industries. The Company’s segments include Europe, North America, Latin America and Asia Pacific. The Company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine.
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