Brokers Set Expectations for O-I Glass FY2024 Earnings

O-I Glass, Inc. (NYSE:OI) – Investment analysts at Zacks Research decreased their FY2024 earnings per share estimates for shares of O-I Glass in a research report issued on Wednesday, December 18th. Zacks Research analyst M. Das now forecasts that the industrial products company will post earnings per share of $0.75 for the year, down from their previous 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.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the firm earned $0.80 earnings per share. The company’s revenue was down 3.7% on a year-over-year basis.

A number of other analysts also recently commented on OI. Citigroup increased their price target on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Barclays decreased their target price on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Royal Bank of Canada reduced their price target 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. Finally, Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $14.00 to $16.00 in a research report on Thursday, October 17th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, O-I Glass currently has an average rating of “Moderate Buy” and a consensus price target of $16.25.

O-I Glass Trading Up 0.9 %

Shares of O-I Glass stock opened at $10.04 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18. The stock has a fifty day simple moving average of $12.21 and a 200 day simple moving average 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 P/E ratio of -3.64 and a beta of 1.20.

Hedge Funds Weigh In On O-I Glass

A number of hedge funds and other institutional investors have recently modified their holdings of OI. Highland Peak Capital LLC purchased a new position in O-I Glass in the 3rd quarter worth $27,132,000. Maverick Capital Ltd. purchased a new position in shares of O-I Glass in the third quarter worth about $1,264,000. Segall Bryant & Hamill LLC bought a new stake in shares of O-I Glass in the 3rd quarter valued at about $32,350,000. Allspring Global Investments Holdings LLC lifted its stake in shares of O-I Glass by 33.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 172,565 shares of the industrial products company’s stock valued at $2,264,000 after acquiring an additional 43,724 shares during the last quarter. Finally, Private Management Group Inc. boosted its holdings in O-I Glass by 21.3% during the 2nd quarter. Private Management Group Inc. now owns 2,505,279 shares of the industrial products company’s stock valued at $27,884,000 after acquiring an additional 439,838 shares during the period. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

About O-I Glass

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.