O-I Glass (OI) Scheduled to Post Quarterly Earnings on Tuesday

O-I Glass (NYSE:OI) is scheduled to post its quarterly earnings results after the market closes on Tuesday, April 30th. Analysts expect O-I Glass to post earnings of $0.36 per share for the quarter. O-I Glass has set its FY24 guidance at $2.25 to $2.65 EPS and its FY 2024 guidance at 2.250-2.650 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 EPS. On average, analysts expect O-I Glass to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

O-I Glass Price Performance

O-I Glass stock opened at $14.81 on Tuesday. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of -19.75, a PEG ratio of 1.02 and a beta of 1.35. O-I Glass has a 52-week low of $13.56 and a 52-week high of $23.57. The stock’s 50 day moving average price is $16.16 and its two-hundred day moving average price is $15.64. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.77 and a current ratio of 1.23.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Citigroup cut O-I Glass from a “buy” rating to a “neutral” rating and increased their price target for the stock from $17.00 to $18.00 in a report on Wednesday, January 3rd. UBS Group began coverage on O-I Glass in a research report on Tuesday, January 16th. They set a “buy” rating and a $26.00 target price on the stock. Truist Financial reaffirmed a “buy” rating and set a $20.00 target price on shares of O-I Glass in a research report on Monday, March 25th. Bank of America reaffirmed a “neutral” rating and set a $16.00 target price (down from $21.00) on shares of O-I Glass in a research report on Friday. Finally, Barclays upped their target price on O-I Glass from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 13th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $22.67.

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.