Analysts Offer Predictions for O-I Glass FY2024 Earnings

O-I Glass, Inc. (NYSE:OI - Free Report) - Equities researchers at Zacks Research dropped their FY2024 EPS estimates for O-I Glass in a note issued to investors on Tuesday, November 12th. Zacks Research analyst M. Das now expects that the industrial products company will post earnings of $0.77 per share for the year, down from their prior forecast of $1.17. The consensus estimate for O-I Glass' current full-year earnings is $0.75 per share. Zacks Research also issued estimates for O-I Glass' Q4 2024 earnings at ($0.08) EPS, Q2 2025 earnings at $0.34 EPS, Q4 2025 earnings at $0.37 EPS and FY2025 earnings at $1.45 EPS.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.08). O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The firm had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.76 billion. During the same quarter in the prior year, the business earned $0.80 EPS. The company's revenue for the quarter was down 3.7% on a year-over-year basis.

Several other equities research analysts have also recently commented on the stock. Royal Bank of Canada dropped their price target on shares of O-I Glass from $18.00 to $16.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Truist Financial restated a "buy" rating and set a $16.00 price objective (down previously from $17.00) on shares of O-I Glass in a report on Thursday, August 1st. Robert W. Baird cut their price objective on O-I Glass from $22.00 to $18.00 and set an "outperform" rating on the stock in a report on Thursday, August 1st. Barclays dropped their target price on O-I Glass from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. Finally, Citigroup upped their target price on O-I Glass from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $16.25.

O-I Glass Price Performance

OI stock traded down $0.17 during trading on Friday, hitting $12.97. The company had a trading volume of 1,277,280 shares, compared to its average volume of 1,691,872. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -4.70 and a beta of 1.20. The business has a 50 day moving average of $12.68 and a 200 day moving average of $12.27. O-I Glass has a fifty-two week low of $10.08 and a fifty-two week high of $17.58. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new position in shares of O-I Glass in the third quarter valued at $27,000. Headlands Technologies LLC acquired a new position in O-I Glass during the first quarter worth $39,000. GAMMA Investing LLC raised its stake in O-I Glass by 371.0% during the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company's stock worth $32,000 after acquiring an additional 1,892 shares in the last quarter. Newbridge Financial Services Group Inc. raised its stake in O-I Glass by 1,337.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company's stock worth $32,000 after acquiring an additional 2,675 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in O-I Glass by 40.2% during the first quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company's stock worth $76,000 after acquiring an additional 1,318 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

O-I Glass Company Profile

O-I Glass, Inc, through its subsidiaries, engages in the manufacture and sale of glass containers to food and beverage manufacturers primarily in the Americas, Europe, and internationally. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.