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

O-I Glass, Inc. (NYSE:OI) – Stock analysts at Zacks Research decreased their FY2024 EPS estimates for O-I Glass in a research report issued to clients and investors on Wednesday, December 18th. Zacks Research analyst M. Das now expects that the industrial products company will post earnings of $0.75 per share for the year, down from their prior forecast 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 posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.08). The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The company’s revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 EPS.

Other research analysts have also issued reports about the company. 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 report on Friday, November 1st. Citigroup increased their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Barclays decreased their target price on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.00 to $16.00 in a research report on Thursday, October 17th. Finally, StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, O-I Glass currently has an average rating of “Moderate Buy” and an average price target of $16.25.

O-I Glass Stock Up 0.9 %

Shares of OI stock opened at $10.04 on Friday. The stock’s fifty day moving average price is $12.21 and its 200 day moving average price is $12.07. O-I Glass has a 1-year low of $9.85 and a 1-year high of $17.58. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -3.64 and a beta of 1.20. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.77.

Institutional Investors Weigh In On O-I Glass

A number of institutional investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC purchased a new position in O-I Glass in the 3rd quarter valued at about $263,000. Geode Capital Management LLC boosted its stake in shares of O-I Glass by 1.1% in the third quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company’s stock worth $46,827,000 after acquiring an additional 37,238 shares during the last quarter. Barclays PLC increased its position in shares of O-I Glass by 349.3% during the third quarter. Barclays PLC now owns 261,161 shares of the industrial products company’s stock worth $3,427,000 after purchasing an additional 203,037 shares in the last quarter. XTX Topco Ltd purchased a new position in O-I Glass in the 3rd quarter valued at $148,000. Finally, Villanova Investment Management Co LLC boosted its stake in O-I Glass by 8.6% during the 3rd quarter. Villanova Investment Management Co LLC now owns 109,272 shares of the industrial products company’s stock worth $1,434,000 after purchasing an additional 8,643 shares during the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.

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.