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

O-I Glass (NYSE:OI) is scheduled to be releasing its earnings data 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 listen to the company’s earnings conference call can do so using this link.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the company earned $0.88 EPS. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. 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 Trading Down 1.1 %

OI stock opened at $12.15 on Monday. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.26 and a quick ratio of 0.75. O-I Glass has a 1-year low of $10.08 and a 1-year high of $17.58. The business has a 50 day simple moving average of $12.71 and a two-hundred day simple moving average of $12.52. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -7.64, a PEG ratio of 1.78 and a beta of 1.17.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. UBS Group cut their target price on shares of O-I Glass from $26.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Citigroup boosted their target price on O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company reduced their price objective on O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Royal Bank of Canada lowered their target price on O-I Glass from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Finally, StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, O-I Glass presently has a consensus rating of “Moderate Buy” and an average price target of $16.63.

Insider Buying and Selling

In other news, Director John Humphrey purchased 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $11.30 per share, with a total value of $169,500.00. Following the purchase, the director now owns 84,227 shares in the company, valued at approximately $951,765.10. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.49% of the stock is owned by corporate insiders.

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.