Owens-Illinois (OI) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Owens-Illinois (NYSE:OI) posted its quarterly earnings data on Tuesday. The industrial products company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01, Bloomberg Earnings reports. Owens-Illinois had a return on equity of 56.17% and a net margin of 2.65%. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the company posted $0.50 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. Owens-Illinois updated its FY18 guidance to $2.75-2.85 EPS.

Shares of Owens-Illinois (OI) opened at $22.54 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 $3,535.27, a PE ratio of 8.18, a PEG ratio of 1.16 and a beta of 1.46. Owens-Illinois has a 12 month low of $19.12 and a 12 month high of $25.90.

Owens-Illinois announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 6th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Several research analysts have recently weighed in on OI shares. Royal Bank of Canada reissued a “hold” rating and issued a $26.00 price objective on shares of Owens-Illinois in a research report on Thursday, December 14th. Bank of America lifted their price objective on Owens-Illinois from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. KeyCorp reissued a “hold” rating on shares of Owens-Illinois in a research report on Monday, October 30th. TheStreet lowered Owens-Illinois from a “b” rating to a “c+” rating in a research report on Wednesday, October 25th. Finally, Zacks Investment Research lowered Owens-Illinois from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average 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.

Earnings History for Owens-Illinois (NYSE:OI)

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