O-I Glass (OI) to Release Earnings on Tuesday

O-I Glass (NYSE:OI) will be announcing its earnings results after the market closes on Tuesday, October 29th. Analysts expect the company to announce earnings of $0.04 per share for the quarter. O-I Glass has set its FY24 guidance at $1.00-1.25 EPS and its FY 2024 guidance at 1.000-1.250 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the business earned $0.88 earnings per share. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. On average, analysts expect O-I Glass to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

O-I Glass Stock Down 4.9 %

Shares of NYSE OI opened at $12.53 on Tuesday. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -7.88, a price-to-earnings-growth ratio of 1.90 and a beta of 1.17. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 2.85. The firm has a 50-day moving average price of $12.70 and a 200 day moving average price of $12.63. O-I Glass has a 52 week low of $10.08 and a 52 week high of $17.58.

Wall Street Analyst Weigh In

A number of analysts recently commented on OI shares. Robert W. Baird dropped their price objective on O-I Glass from $22.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Bank of America upgraded O-I Glass from a “neutral” rating to a “buy” rating and upped their price target for the stock from $14.00 to $16.00 in a research note on Thursday, October 17th. Wells Fargo & Company cut their price objective on O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Royal Bank of Canada decreased their target price on shares of O-I Glass from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Finally, StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, O-I Glass has a consensus rating of “Moderate Buy” and an average target price of $16.63.

Insider Buying and Selling at O-I Glass

In other O-I Glass news, Director John Humphrey acquired 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average price of $11.30 per share, with a total value of $169,500.00. Following the transaction, the director now owns 84,227 shares of the company’s stock, valued at approximately $951,765.10. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.49% of the company’s stock.

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.