Zacks Research Decreases Earnings Estimates for O-I Glass

O-I Glass, Inc. (NYSE:OI) – Zacks Research reduced their FY2024 earnings per share estimates for shares of O-I Glass in a note issued to investors on Tuesday, November 12th. Zacks Research analyst M. Das now anticipates that the industrial products company will earn $0.77 per share for the year, down from their prior estimate 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.

A number of other research analysts also recently commented on the stock. Barclays dropped their price objective on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Citigroup upped their price target on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Robert W. Baird decreased their price target on shares of O-I Glass from $22.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Truist Financial reaffirmed a “buy” rating and issued a $16.00 target price (down from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $16.25.

O-I Glass Stock Up 3.0 %

O-I Glass stock opened at $13.15 on Friday. The stock has a fifty day moving average price of $12.65 and a 200 day moving average price of $12.29. O-I Glass has a 52 week low of $10.08 and a 52 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.

O-I Glass (NYSE:OI) last issued 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). The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.76 billion. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 earnings per share.

Hedge Funds Weigh In On O-I Glass

Several hedge funds and other institutional investors have recently bought and sold shares of OI. Segall Bryant & Hamill LLC acquired a new position in O-I Glass in the 3rd quarter worth $32,350,000. Highland Peak Capital LLC purchased a new stake in shares of O-I Glass during the third quarter worth about $27,132,000. Levin Capital Strategies L.P. lifted its stake in shares of O-I Glass by 66.0% in the first quarter. Levin Capital Strategies L.P. now owns 2,808,105 shares of the industrial products company’s stock worth $46,586,000 after acquiring an additional 1,116,340 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in O-I Glass by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company’s stock valued at $78,952,000 after purchasing an additional 573,300 shares during the last quarter. Finally, Private Management Group Inc. grew its stake in O-I Glass by 20.8% during 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 purchasing an additional 520,452 shares in the last quarter. 97.24% of the stock is 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.