O-I Glass (NYSE:OI) Issues FY22 Earnings Guidance

O-I Glass (NYSE:OI – Get Rating) updated its FY22 earnings guidance on Monday. The company provided EPS guidance of $1.85-$2.10 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.89. O-I Glass also updated its FY 2022 guidance to $1.850-$2.100 EPS.

Several brokerages have issued reports on OI. Bank of America lowered O-I Glass from a buy rating to a neutral rating and set a $14.00 price objective on the stock. in a report on Thursday, April 14th. Citigroup dropped their price objective on O-I Glass from $16.00 to $14.00 in a report on Friday, April 8th. Credit Suisse Group began coverage on O-I Glass in a report on Friday, January 28th. They set an outperform rating and a $18.00 price objective on the stock. StockNews.com initiated coverage on O-I Glass in a report on Thursday, March 31st. They set a buy rating on the stock. Finally, Wells Fargo & Company upgraded shares of O-I Glass from an underweight rating to an equal weight rating in a research note on Wednesday, January 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, O-I Glass currently has a consensus rating of Hold and a consensus price target of $15.90.

NYSE:OI traded down $0.13 during mid-day trading on Monday, reaching $13.25. The stock had a trading volume of 805,643 shares, compared to its average volume of 1,020,735. The company has a debt-to-equity ratio of 5.75, a quick ratio of 0.92 and a current ratio of 1.36. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 1.30 and a beta of 1.60. O-I Glass has a twelve month low of $10.64 and a twelve month high of $19.46. The business has a 50 day simple moving average of $12.83 and a 200 day simple moving average of $12.81.

O-I Glass (NYSE:OI – Get Rating) last announced its quarterly earnings data on Monday, April 25th. The industrial products company reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.17. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.54 billion. O-I Glass had a net margin of 2.34% and a return on equity of 54.60%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 earnings per share. As a group, sell-side analysts expect that O-I Glass will post 1.91 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in O-I Glass by 3.9% in the fourth quarter. BlackRock Inc. now owns 24,456,848 shares of the industrial products company’s stock valued at $294,216,000 after buying an additional 927,124 shares in the last quarter. State Street Corp increased its holdings in O-I Glass by 4.6% in the fourth quarter. State Street Corp now owns 5,619,529 shares of the industrial products company’s stock valued at $67,603,000 after buying an additional 248,472 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in O-I Glass by 59.1% in the fourth quarter. Nuveen Asset Management LLC now owns 834,129 shares of the industrial products company’s stock valued at $9,468,000 after buying an additional 309,811 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in O-I Glass by 247.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 612,611 shares of the industrial products company’s stock valued at $7,370,000 after buying an additional 436,513 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in O-I Glass by 3.0% in the fourth quarter. Legal & General Group Plc now owns 465,671 shares of the industrial products company’s stock valued at $5,602,000 after buying an additional 13,567 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

O-I Glass Company Profile (Get Rating)

O-I Glass, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in the Americas, Europe, and the Asia Pacific. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. It is also involved in the production of glass packaging for various food items, soft drinks, tea, juices, and pharmaceuticals.

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