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Home > News > Company News > O-I Glass, Inc. (NYSE:OI) Expected to Announce Earnings of $0.33 Per Share

O-I Glass, Inc. (NYSE:OI) Expected to Announce Earnings of $0.33 Per Share

Post Time:Dec 28,2021Classify:Company NewsView:978

Equities research analysts expect that O-I Glass, Inc. (NYSE:OI) will post earnings per share of $0.33 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for O-I Glass’ earnings, with the lowest EPS estimate coming in at $0.31 and the highest estimate coming in at $0.35. O-I Glass reported earnings of $0.40 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 17.5%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, February 8th.


On average, analysts expect that O-I Glass will report full year earnings of $1.80 per share for the current financial year, with EPS estimates ranging from $1.79 to $1.83. For the next year, analysts anticipate that the firm will report earnings of $1.91 per share, with EPS estimates ranging from $1.85 to $2.00. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow O-I Glass.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Sunday, October 24th. The industrial products company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.06. O-I Glass had a return on equity of 69.39% and a net margin of 1.23%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same period in the previous year, the company posted $0.41 earnings per share. The firm’s revenue was down .4% on a year-over-year basis.


OI has been the topic of several research reports. Loop Capital initiated coverage on O-I Glass in a research report on Tuesday, October 5th. They set a “hold” rating and a $16.00 price target on the stock. Wells Fargo & Company reissued a “sell” rating and issued a $13.00 target price on shares of O-I Glass in a report on Friday, December 17th. KeyCorp decreased their price target on O-I Glass from $13.00 to $12.00 and set an “underweight” rating for the company in a research note on Wednesday, October 27th. Truist Securities began coverage on O-I Glass in a research report on Tuesday, September 14th. They set a “buy” rating and a $20.00 price objective for the company. Finally, Citigroup upped their price objective on O-I Glass from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, October 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.40.


Several hedge funds and other institutional investors have recently added to or reduced their stakes in OI. Marshall Wace North America L.P. bought a new position in O-I Glass during the first quarter valued at approximately $25,000. Swiss National Bank raised its position in O-I Glass by 1.7% during the second quarter. Swiss National Bank now owns 347,024 shares of the industrial products company’s stock valued at $5,667,000 after purchasing an additional 5,900 shares during the period. Sei Investments Co. raised its position in O-I Glass by 23.2% during the second quarter. Sei Investments Co. now owns 13,876 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 2,609 shares during the period. Burney Co. raised its position in O-I Glass by 17.2% during the second quarter. Burney Co. now owns 373,475 shares of the industrial products company’s stock valued at $6,099,000 after purchasing an additional 54,804 shares during the period. Finally, Mutual of America Capital Management LLC raised its position in O-I Glass by 6.8% during the second quarter. Mutual of America Capital Management LLC now owns 22,450 shares of the industrial products company’s stock valued at $367,000 after purchasing an additional 1,424 shares during the period. 90.61% of the stock is owned by hedge funds and other institutional investors.


NYSE OI opened at $11.54 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 8.51. O-I Glass has a twelve month low of $10.64 and a twelve month high of $19.46. The firm has a market capitalization of $1.81 billion, a PE ratio of 25.09, a P/E/G ratio of 0.35 and a beta of 1.72. The stock’s 50 day moving average is $12.29 and its 200 day moving average is $14.25.


O-I Glass Company Profile


O-I Glass, Inc engages in manufacturing of glass products. It offers products to the food and beverage sectors. The firm operates through the following geographical segments: Americas, Europe, and Asia Pacific. The company was founded in 1929 and is headquartered in Perrysburg, OH.


Source: https://etfdailynews.com/Author: shangyi

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