KeyCorp Weighs in on Owens-Illinois, Inc.’s FY2017 Earnings (OI)

Owens-Illinois, Inc. (NYSE:OI) – Stock analysts at KeyCorp lowered their FY2017 EPS estimates for Owens-Illinois in a research report issued on Monday. KeyCorp analyst A. Josephson now expects that the industrial products company will earn $2.64 per share for the year, down from their previous estimate of $2.65. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Owens-Illinois’ Q4 2017 earnings at $0.54 EPS.

A number of other research firms have also recently weighed in on OI. Royal Bank Of Canada reiterated a “hold” rating and set a $25.00 price objective on shares of Owens-Illinois in a research report on Wednesday, September 6th. Bank of America Corporation boosted their price objective on shares of Owens-Illinois from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. BidaskClub cut shares of Owens-Illinois from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Jefferies Group LLC reiterated a “hold” rating and set a $26.00 price objective (up previously from $20.00) on shares of Owens-Illinois in a research report on Friday, July 14th. Finally, TheStreet cut shares of Owens-Illinois from a “b” rating to a “c+” rating in a research report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Owens-Illinois has an average rating of “Hold” and a consensus price target of $26.45.

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Owens-Illinois (NYSE OI) opened at $23.89 on Thursday. The company has a debt-to-equity ratio of 5.73, a current ratio of 1.23 and a quick ratio of 0.74. The company has a market capitalization of $3.88 billion, a P/E ratio of 9.16, a PEG ratio of 1.24 and a beta of 1.53.

Owens-Illinois (NYSE:OI) last posted its quarterly earnings data on Monday, October 23rd. The industrial products company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. Owens-Illinois had a return on equity of 63.33% and a net margin of 3.59%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share.

A number of large investors have recently added to or reduced their stakes in OI. DekaBank Deutsche Girozentrale lifted its stake in Owens-Illinois by 104.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,635 shares of the industrial products company’s stock worth $110,000 after acquiring an additional 2,366 shares during the period. Acadian Asset Management LLC purchased a new stake in Owens-Illinois in the second quarter worth about $113,000. Acrospire Investment Management LLC lifted its stake in Owens-Illinois by 163.8% in the second quarter. Acrospire Investment Management LLC now owns 6,714 shares of the industrial products company’s stock worth $161,000 after acquiring an additional 4,169 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in Owens-Illinois by 113.2% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,100 shares of the industrial products company’s stock worth $165,000 after acquiring an additional 4,300 shares during the period. Finally, Flinton Capital Management LLC lifted its stake in Owens-Illinois by 74.4% in the second quarter. Flinton Capital Management LLC now owns 7,200 shares of the industrial products company’s stock worth $172,000 after acquiring an additional 3,072 shares during the period. 94.93% of the stock is owned by institutional investors.

In related news, insider Sergio B.O. Galindo sold 5,477 shares of the company’s stock in a transaction dated 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 directly owns 34,890 shares of the company’s stock, valued at $869,807.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Moyano Giancarlo Currarino sold 1,360 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $23.97, for a total transaction of $32,599.20. Following the completion of the sale, the senior vice president now directly owns 23,954 shares of the company’s stock, valued at $574,177.38. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

About Owens-Illinois

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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