Zacks Research Analysts Cut Earnings Estimates for O-I Glass

O-I Glass, Inc. (NYSE:OI) – Equities researchers at Zacks Research reduced their Q4 2024 EPS estimates for O-I Glass in a research report issued on Wednesday, December 18th. Zacks Research analyst M. Das now expects that the industrial products company will post earnings of ($0.10) per share for the quarter, down from their prior forecast of ($0.08). 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’ Q2 2025 earnings at $0.33 EPS and Q4 2025 earnings at $0.37 EPS.

OI has been the subject of several other reports. Citigroup increased their price target on O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $16.00 in a research report on Thursday, October 17th. StockNews.com upgraded O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Barclays decreased their price target on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, Royal Bank of Canada cut their price objective on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.25.

O-I Glass Price Performance

Shares of OI stock opened at $10.14 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. O-I Glass has a 12-month low of $9.85 and a 12-month high of $17.58. The firm has a fifty day moving average of $12.15 and a 200-day moving average of $12.05. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -3.67 and a beta of 1.20.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the company earned $0.80 EPS. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year.

Hedge Funds Weigh In On O-I Glass

Hedge funds and other institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. bought a new position in O-I Glass during the third quarter worth $27,000. Newbridge Financial Services Group Inc. grew its stake in O-I Glass by 1,337.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock valued at $32,000 after buying an additional 2,675 shares during the last quarter. GAMMA Investing LLC raised its holdings in O-I Glass by 371.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 1,892 shares during the period. Nisa Investment Advisors LLC raised its holdings in O-I Glass by 28.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 1,136 shares during the period. Finally, KBC Group NV lifted its holdings in O-I Glass by 38.9% during the 3rd quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 1,521 shares during the last quarter. Institutional investors 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.