Owens-Illinois Inc (NYSE:OI) Receives $21.76 Consensus Price Target from Analysts

Shares of Owens-Illinois Inc (NYSE:OI) have been assigned an average rating of “Hold” from the twelve analysts that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, four have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $21.76.

OI has been the topic of a number of research analyst reports. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Bank of America downgraded shares of Genesee & Wyoming from a “neutral” rating to an “underperform” rating and set a $88.65 price target for the company. in a report on Tuesday, April 30th. Wells Fargo & Co reissued a “buy” rating and issued a $115.00 price target on shares of Tractor Supply in a report on Wednesday, May 15th. Finally, UFS raised shares of Owens-Illinois from a “neutral” rating to a “buy” rating in a report on Tuesday, April 30th.

NYSE:OI traded down $0.02 during midday trading on Friday, reaching $16.90. The stock had a trading volume of 705,900 shares, compared to its average volume of 1,151,041. Owens-Illinois has a 1-year low of $15.67 and a 1-year high of $20.78. The business has a fifty day moving average price of $16.93. The company has a debt-to-equity ratio of 5.76, a current ratio of 1.39 and a quick ratio of 0.83. The firm has a market capitalization of $2.63 billion, a PE ratio of 6.21, a P/E/G ratio of 0.85 and a beta of 1.43.

Owens-Illinois (NYSE:OI) last posted its earnings results on Wednesday, May 1st. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). Owens-Illinois had a net margin of 3.53% and a return on equity of 43.45%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the business posted $0.59 earnings per share. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. As a group, equities research analysts expect that Owens-Illinois will post 2.89 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Thursday, May 30th. Owens-Illinois’s dividend payout ratio (DPR) is presently 7.35%.

Several large investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Owens-Illinois in the 4th quarter valued at about $246,000. PNC Financial Services Group Inc. lifted its holdings in shares of Owens-Illinois by 22.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 90,500 shares of the industrial products company’s stock valued at $1,560,000 after buying an additional 16,394 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Owens-Illinois by 8.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,905,131 shares of the industrial products company’s stock valued at $32,844,000 after buying an additional 152,020 shares during the period. Texas Permanent School Fund lifted its holdings in shares of Owens-Illinois by 3.6% in the 4th quarter. Texas Permanent School Fund now owns 103,851 shares of the industrial products company’s stock valued at $1,790,000 after buying an additional 3,652 shares during the period. Finally, Eagle Asset Management Inc. lifted its holdings in shares of Owens-Illinois by 16.1% in the 4th quarter. Eagle Asset Management Inc. now owns 16,577 shares of the industrial products company’s stock valued at $285,000 after buying an additional 2,293 shares during the period. 93.15% of the stock is owned by institutional investors.

Owens-Illinois Company Profile

Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Americas, Europe, and Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. The company is also involved in the production of glass packaging for various food items, soft drinks, teas, juices, and pharmaceuticals.

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Analyst Recommendations for Owens-Illinois (NYSE:OI)

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