FY2024 EPS Estimates for O-I Glass Lowered by Zacks Research

O-I Glass, Inc. (NYSE:OI) – Analysts at Zacks Research cut their FY2024 EPS estimates for O-I Glass in a note issued to investors on Wednesday, December 18th. Zacks Research analyst M. Das now anticipates that the industrial products company will earn $0.75 per share for the year, down from their prior estimate 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 released 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 business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 EPS.

Several other research analysts have also commented on OI. Citigroup upped their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Barclays lowered 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 report on Thursday, October 31st. Royal Bank of Canada cut their price objective on O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and increased their target price 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.25.

O-I Glass Price Performance

Shares of O-I Glass stock opened at $10.04 on Friday. The company has a market cap of $1.55 billion, a PE ratio of -3.64 and a beta of 1.20. The business has a 50 day moving average of $12.21 and a 200 day moving average of $12.07. O-I Glass has a 52 week low of $9.85 and a 52 week high of $17.58. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18.

Institutional Investors Weigh In On O-I Glass

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

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.