O-I Glass (NYSE:OI) Releases Q2 Earnings Guidance

O-I Glass (NYSE:OIGet Rating) updated its second quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.55-$0.60 for the period, compared to the Thomson Reuters consensus estimate of $0.57. O-I Glass also updated its FY 2022 guidance to $1.850-$2.100 EPS.

O-I Glass stock traded down $0.13 during trading on Monday, hitting $13.25. 805,643 shares of the company were exchanged, compared to its average volume of 1,020,735. The business’s 50 day moving average is $12.83 and its 200 day moving average is $12.81. O-I Glass has a 52 week low of $10.64 and a 52 week high of $19.46. The company has a market capitalization of $2.07 billion, a P/E ratio of 14.56, a PEG ratio of 1.30 and a beta of 1.60. The company has a current ratio of 1.36, a quick ratio of 0.92 and a debt-to-equity ratio of 5.75.

O-I Glass (NYSE:OIGet Rating) last announced its quarterly earnings results on Monday, April 25th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.17. O-I Glass had a return on equity of 54.60% and a net margin of 2.34%. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the company posted $0.35 earnings per share. O-I Glass’s revenue was up 13.3% compared to the same quarter last year. Equities analysts expect that O-I Glass will post 1.91 EPS for the current year.

A number of research analysts have issued reports on the company. Bank of America downgraded O-I Glass from a buy rating to a neutral rating and set a $14.00 price objective for the company. in a research note on Thursday, April 14th. Credit Suisse Group began coverage on O-I Glass in a research note on Friday, January 28th. They set an outperform rating and a $18.00 price target for the company. Citigroup cut their price target on O-I Glass from $16.00 to $14.00 in a research note on Friday, April 8th. Wells Fargo & Company upgraded O-I Glass from an underweight rating to an equal weight rating in a research note on Wednesday, January 12th. Finally, StockNews.com began coverage on O-I Glass in a research note on Thursday, March 31st. They set a buy rating for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $15.90.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS Group AG grew its position in O-I Glass by 10.8% during the 3rd quarter. UBS Group AG now owns 23,034 shares of the industrial products company’s stock worth $328,000 after acquiring an additional 2,245 shares during the last quarter. California State Teachers Retirement System grew its position in O-I Glass by 1.9% during the 4th quarter. California State Teachers Retirement System now owns 221,885 shares of the industrial products company’s stock worth $2,669,000 after acquiring an additional 4,160 shares during the last quarter. Legal & General Group Plc grew its position in O-I Glass by 3.0% during the 4th quarter. Legal & General Group Plc now owns 465,671 shares of the industrial products company’s stock worth $5,602,000 after acquiring an additional 13,567 shares during the last quarter. Janus Henderson Group PLC bought a new position in O-I Glass during the 3rd quarter worth approximately $227,000. Finally, Two Sigma Advisers LP bought a new position in O-I Glass during the 3rd quarter worth approximately $243,000. 91.53% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for O-I Glass (NYSE:OI)

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