Owens-Illinois (OI) Updates FY18 Earnings Guidance

Owens-Illinois (NYSE:OI) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.75-2.85 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.84.

Shares of Owens-Illinois (NYSE OI) traded up $0.64 on Tuesday, reaching $21.69. The company’s stock had a trading volume of 2,488,929 shares, compared to its average volume of 1,500,033. Owens-Illinois has a 12 month low of $19.12 and a 12 month high of $25.90. The company has a current ratio of 1.23, a quick ratio of 0.74 and a debt-to-equity ratio of 5.73. The firm has a market cap of $3,662.41, a PE ratio of 14.76, a P/E/G ratio of 1.20 and a beta of 1.46.

Owens-Illinois (NYSE:OI) last issued its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01. Owens-Illinois had a return on equity of 63.33% and a net margin of 3.59%. The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. equities research analysts predict that Owens-Illinois will post 2.63 EPS for the current fiscal year.

A number of analysts have commented on OI shares. Bank of America lifted their price target on Owens-Illinois from $29.00 to $30.00 and gave the stock a buy rating in a research report on Wednesday, October 25th. TheStreet cut Owens-Illinois from a b rating to a c+ rating in a report on Wednesday, October 25th. Royal Bank of Canada reissued a hold rating and issued a $26.00 price objective on shares of Owens-Illinois in a report on Thursday, December 14th. KeyCorp reissued a hold rating on shares of Owens-Illinois in a report on Friday, November 10th. Finally, Robert W. Baird reissued a hold rating and issued a $25.00 price objective on shares of Owens-Illinois in a report on Thursday, October 12th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $26.36.

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Owens-Illinois Company Profile

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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