Owens-Illinois (NYSE:OI) issued its quarterly earnings results on Tuesday. The industrial products company reported $0.75 earnings per share for the quarter, meeting the consensus estimate of $0.75, MarketWatch Earnings reports. Owens-Illinois had a net margin of 2.01% and a return on equity of 45.52%. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. Owens-Illinois updated its FY18 guidance to $2.72-2.78 EPS.
Shares of OI stock traded down $1.10 during mid-day trading on Wednesday, hitting $15.67. The company had a trading volume of 312,310 shares, compared to its average volume of 1,456,573. Owens-Illinois has a 52-week low of $16.01 and a 52-week high of $24.66. The company has a debt-to-equity ratio of 5.98, a quick ratio of 0.76 and a current ratio of 1.21. The company has a market capitalization of $2.65 billion, a PE ratio of 5.92, a price-to-earnings-growth ratio of 0.90 and a beta of 1.40.
OI has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Owens-Illinois from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. Citigroup lowered their price target on shares of Owens-Illinois from $29.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, July 10th. Bank of America set a $22.00 price target on shares of Owens-Illinois and gave the company a “hold” rating in a report on Wednesday, July 25th. Finally, Robert W. Baird lowered their price target on shares of Owens-Illinois from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, July 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Owens-Illinois has an average rating of “Hold” and an average price target of $23.66.
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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