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

O-I Glass (NYSE:OI) will issue its quarterly 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.Parties that wish to listen to the company’s conference call can do so using this link.

O-I Glass (NYSE:OI) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. The business’s revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 EPS. 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 Stock Performance

O-I Glass stock opened at $12.15 on Friday. The company has a debt-to-equity ratio of 2.85, a quick ratio of 0.75 and a current ratio of 1.26. The stock’s 50 day simple moving average is $12.71 and its two-hundred day simple moving average is $12.55. O-I Glass has a fifty-two week low of $10.08 and a fifty-two week high of $17.58. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -7.64, a PEG ratio of 1.78 and a beta of 1.17.

Wall Street Analysts Forecast Growth

OI has been the topic of a number of analyst reports. Truist Financial reissued a “buy” rating and issued a $16.00 price target (down from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. Barclays dropped their price target on O-I Glass from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Wells Fargo & Company dropped their price target on O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Citigroup boosted their price target 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. Finally, Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $14.00 to $16.00 in a research report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.63.

Insider Activity at O-I Glass

In related news, Director John Humphrey bought 15,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average cost of $11.30 per share, for a total transaction of $169,500.00. Following the purchase, the director now owns 84,227 shares in the company, valued at approximately $951,765.10. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.49% of the stock is currently owned by insiders.

About O-I Glass

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.