Analysts Anticipate Owens-Illinois Inc (NYSE:OI) to Post $0.67 Earnings Per Share

Equities research analysts forecast that Owens-Illinois Inc (NYSE:OI) will announce earnings per share (EPS) of $0.67 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Owens-Illinois’ earnings. The lowest EPS estimate is $0.60 and the highest is $0.85. Owens-Illinois posted earnings of $0.75 per share in the same quarter last year, which would suggest a negative year over year growth rate of 10.7%. The firm is expected to report its next earnings report on Tuesday, October 29th.

According to Zacks, analysts expect that Owens-Illinois will report full-year earnings of $2.51 per share for the current year, with EPS estimates ranging from $2.40 to $2.85. For the next financial year, analysts forecast that the firm will report earnings of $2.71 per share, with EPS estimates ranging from $2.35 to $3.15. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Owens-Illinois.

Owens-Illinois (NYSE:OI) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.07). Owens-Illinois had a net margin of 3.76% and a return on equity of 39.73%. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the company posted $0.77 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis.

OI has been the subject of several recent analyst reports. UFS raised shares of Owens-Illinois from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 30th. Citigroup lowered their target price on shares of Owens-Illinois from $19.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday. Bank of America downgraded shares of Owens-Illinois from a “buy” rating to a “neutral” rating in a research note on Friday. Goldman Sachs Group raised shares of Owens-Illinois from a “sell” rating to a “neutral” rating and lowered their target price for the company from $17.00 to $13.00 in a research note on Monday. Finally, ValuEngine downgraded shares of Owens-Illinois from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $18.89.

NYSE:OI traded down $0.20 during trading hours on Tuesday, hitting $11.75. The stock had a trading volume of 2,739,854 shares, compared to its average volume of 1,260,113. Owens-Illinois has a one year low of $11.55 and a one year high of $20.78. The company has a debt-to-equity ratio of 5.72, a quick ratio of 1.00 and a current ratio of 1.53. The stock has a market cap of $1.92 billion, a P/E ratio of 4.32, a price-to-earnings-growth ratio of 0.73 and a beta of 1.41. The firm has a 50 day moving average price of $16.58.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Thursday, August 29th. Owens-Illinois’s dividend payout ratio is 7.35%.

In related news, Director Carol A. Williams acquired 10,000 shares of the stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $12.21 per share, with a total value of $122,100.00. Following the completion of the transaction, the director now directly owns 60,761 shares of the company’s stock, valued at $741,891.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in OI. First Quadrant L P CA bought a new position in Owens-Illinois in the second quarter valued at $25,000. Marshall Wace North America L.P. acquired a new stake in Owens-Illinois in the first quarter valued at $25,000. North Star Investment Management Corp. lifted its stake in Owens-Illinois by 105.7% in the first quarter. North Star Investment Management Corp. now owns 2,160 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 1,110 shares during the last quarter. Zions Bancorporation N.A. acquired a new stake in Owens-Illinois in the first quarter valued at $46,000. Finally, Legacy Advisors LLC acquired a new stake in Owens-Illinois in the first quarter valued at $48,000. 92.27% of the stock is owned by institutional investors and hedge funds.

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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