Trade Report: Today, Owens-Illinois Inc. (OI) Releases FY16 Earnings Guidance

Today, Owens-Illinois Inc. (OI) Releases FY16 Earnings Guidance

Owens-Illinois Inc. (NYSE:OI) updated its FY16 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.27-2.32 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.30.

OI has been the subject of several research analyst reports. Deutsche Bank AG reissued a hold rating and issued a $20.00 price objective (up from $18.73) on shares of Owens-Illinois in a report on Tuesday, November 22nd. Zacks Investment Research raised Owens-Illinois from a sell rating to a hold rating in a report on Monday, August 1st. Morgan Stanley reissued an equal weight rating and issued a $40.00 price objective on shares of Owens-Illinois in a report on Saturday, August 13th. Jefferies Group reissued a hold rating and issued a $19.00 price objective on shares of Owens-Illinois in a report on Thursday, October 20th. Finally, Royal Bank Of Canada initiated coverage on Owens-Illinois in a report on Friday, September 30th. They issued a sector perform rating and a $18.00 price objective for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $20.21.

Owens-Illinois Inc. (NYSE:OI) opened at 18.11 on Tuesday. The stock’s 50 day moving average price is $18.25 and its 200 day moving average price is $18.32. The firm has a market capitalization of $2.94 billion, a P/E ratio of 10.35 and a beta of 1.65. Owens-Illinois Inc. has a 12 month low of $11.58 and a 12 month high of $20.33.

Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Tuesday, October 25th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.01. Owens-Illinois had a net margin of 1.17% and a return on equity of 86.33%. The company earned $1.71 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the company earned $0.57 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, analysts forecast that Owens-Illinois Inc. will post $2.30 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in shares of Owens-Illinois by 12.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 336,320 shares of the company’s stock worth $6,185,000 after buying an additional 37,290 shares in the last quarter. Credit Suisse AG raised its position in shares of Owens-Illinois by 51.0% in the third quarter. Credit Suisse AG now owns 551,719 shares of the company’s stock worth $10,148,000 after buying an additional 186,381 shares in the last quarter. Candriam Luxembourg S.C.A. bought a new position in shares of Owens-Illinois during the third quarter worth approximately $1,927,000. D. E. Shaw & Co. Inc. raised its position in shares of Owens-Illinois by 915.3% in the third quarter. D. E. Shaw & Co. Inc. now owns 75,028 shares of the company’s stock worth $1,380,000 after buying an additional 67,638 shares in the last quarter. Finally, Gotham Asset Management LLC raised its position in shares of Owens-Illinois by 1.1% in the third quarter. Gotham Asset Management LLC now owns 17,047 shares of the company’s stock worth $313,000 after buying an additional 191 shares in the last quarter. 95.33% of the stock is owned by institutional investors and hedge funds.

Owens-Illinois Company Profile

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