Owens-Illinois, Inc. (NYSE:OI) Issues Quarterly Earnings Results

Owens-Illinois, Inc. (NYSE:OI) posted its earnings results on Monday, July 31st. The industrial products company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.08, Briefing.com reports. Owens-Illinois had a net margin of 3.36% and a return on equity of 72.15%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the firm earned $0.65 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Owens-Illinois updated its FY17 guidance to $2.55-2.65 EPS.

Shares of Owens-Illinois (NYSE OI) opened at 23.90 on Friday. The stock has a market cap of $3.89 billion, a P/E ratio of 17.32 and a beta of 1.50. Owens-Illinois has a one year low of $16.80 and a one year high of $25.02. The firm has a 50 day moving average of $24.21 and a 200 day moving average of $21.87.

Several equities analysts have commented on OI shares. Zacks Investment Research raised shares of Owens-Illinois from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Monday, May 15th. BidaskClub raised shares of Owens-Illinois from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Deutsche Bank AG reaffirmed a “hold” rating and set a $24.00 price objective (up from $20.00) on shares of Owens-Illinois in a research report on Saturday, April 29th. Jefferies Group LLC reaffirmed a “hold” rating and set a $27.00 price objective (up from $26.00) on shares of Owens-Illinois in a research report on Wednesday, August 2nd. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $20.00 price objective on shares of Owens-Illinois in a research report on Friday, April 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $24.75.

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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.

Earnings History for Owens-Illinois (NYSE:OI)

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