O-I Glass, Inc. (NYSE:OI - Free Report) - Analysts at Zacks Research dropped their FY2024 earnings per share (EPS) estimates for O-I Glass in a research note issued to investors on Wednesday, December 18th. Zacks Research analyst M. Das now expects that the industrial products company will earn $0.75 per share for the year, down from their prior forecast of $0.77. The consensus estimate for O-I Glass' current full-year earnings is $0.76 per share. Zacks Research also issued estimates for O-I Glass' Q1 2025 earnings at $0.17 EPS, FY2025 earnings at $1.41 EPS, Q2 2026 earnings at $0.40 EPS and FY2026 earnings at $1.90 EPS.
Several other equities analysts have also commented on OI. Royal Bank of Canada lowered their price objective on shares of O-I Glass from $18.00 to $16.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. StockNews.com upgraded O-I Glass from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Barclays reduced their price objective on O-I Glass from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 31st. Citigroup raised their price objective on O-I Glass from $14.00 to $15.00 and gave the company a "neutral" rating in a research note on Wednesday, October 2nd. Finally, Bank of America raised O-I Glass from a "neutral" rating to a "buy" rating and boosted their target price for the company from $14.00 to $16.00 in a research report on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.25.
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O-I Glass Price Performance
OI stock traded up $0.09 during mid-day trading on Friday, hitting $10.04. The company had a trading volume of 3,574,062 shares, compared to its average volume of 1,660,470. The company has a 50-day moving average price of $12.21 and a 200 day moving average price of $12.07. O-I Glass has a 12-month low of $9.85 and a 12-month high of $17.58. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -3.64 and a beta of 1.20. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18.
O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.08). O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The business had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.76 billion. During the same period in the prior year, the firm posted $0.80 earnings per share. The firm's revenue for the quarter was down 3.7% on a year-over-year basis.
Institutional Trading of O-I Glass
A number of institutional investors have recently made changes to their positions in OI. Dimensional Fund Advisors LP lifted its holdings in shares of O-I Glass by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company's stock worth $78,952,000 after purchasing an additional 573,300 shares during the period. Geode Capital Management LLC raised its position in O-I Glass by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company's stock worth $46,827,000 after buying an additional 37,238 shares during the last quarter. Levin Capital Strategies L.P. lifted its stake in O-I Glass by 25.0% during the 2nd quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company's stock valued at $39,082,000 after acquiring an additional 703,308 shares during the period. Private Management Group Inc. boosted its holdings in shares of O-I Glass by 20.8% in the 3rd quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company's stock valued at $39,698,000 after acquiring an additional 520,452 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of O-I Glass in the third quarter worth $32,350,000. Institutional investors and hedge funds own 97.24% of the company's stock.
O-I Glass Company Profile
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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.
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