Owens-Illinois Inc. (OI) Releases FY16 Earnings Guidance
Owens-Illinois Inc. (NYSE:OI) updated its FY16 earnings guidance on Tuesday. The company provided EPS guidance of $2.27-2.32 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.30.
A number of equities analysts have issued reports on the company. Deutsche Bank AG restated a hold rating and set a $20.00 target price (up previously from $18.73) on shares of Owens-Illinois in a report on Tuesday, November 22nd. Zacks Investment Research cut Owens-Illinois from a buy rating to a hold rating in a report on Friday, October 28th. Jefferies Group restated a hold rating and set a $19.00 target price on shares of Owens-Illinois in a report on Thursday, October 20th. Royal Bank Of Canada assumed coverage on Owens-Illinois in a report on Friday, September 30th. They set a sector perform rating and a $18.00 target price on the stock. Finally, RBC Capital Markets assumed coverage on Owens-Illinois in a report on Thursday, September 29th. They set a sector perform rating and a $18.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $20.21.
Shares of Owens-Illinois Inc. (NYSE:OI) opened at 18.11 on Tuesday. The company has a 50-day moving average price of $18.25 and a 200-day moving average price of $18.32. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 10.35 and a beta of 1.65. Owens-Illinois Inc. has a 12 month low of $11.58 and a 12 month high of $20.33.
Owens-Illinois (NYSE:OI) last issued its earnings results on Tuesday, October 25th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. Owens-Illinois had a return on equity of 86.33% and a net margin of 1.17%. The business earned $1.71 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the firm earned $0.57 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Analysts forecast that Owens-Illinois Inc. will post $2.30 earnings per share for the current fiscal year.
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Institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in shares of Owens-Illinois by 12.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 336,320 shares of the company’s stock worth $6,185,000 after buying an additional 37,290 shares during the last quarter. Credit Suisse AG boosted its position in shares of Owens-Illinois by 51.0% in the third quarter. Credit Suisse AG now owns 551,719 shares of the company’s stock worth $10,148,000 after buying an additional 186,381 shares during the last quarter. Candriam Luxembourg S.C.A. purchased a new position in shares of Owens-Illinois during the third quarter worth about $1,927,000. D. E. Shaw & Co. Inc. boosted its position in shares of Owens-Illinois by 915.3% in the third quarter. D. E. Shaw & Co. Inc. now owns 75,028 shares of the company’s stock worth $1,380,000 after buying an additional 67,638 shares during the last quarter. Finally, Gotham Asset Management LLC boosted its position in shares of Owens-Illinois by 1.1% in the third quarter. Gotham Asset Management LLC now owns 17,047 shares of the company’s stock worth $313,000 after buying an additional 191 shares during the last quarter. 95.33% of the stock is owned by institutional investors and hedge funds.
Owens-Illinois Company Profile
Owens-Illinois, Inc is engaged in the manufacturing of glass containers. The Company’s principal product lines are glass containers for the food and beverage industries. Its segments include Europe, North America, Latin America and Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine.
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