Owens-Illinois posts quarterly earnings results

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The stock’s 50 day moving average price is $18.64 and its 200 day moving average price is $18.33. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 11.06 and a beta of 1.48. Owens-Illinois has a 12-month low of $12.00 and a 12-month high of $20.33.
Owens-Illinois, Inc. (NYSE:OI) announced its quarterly earnings data. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. Owens-Illinois had a return on equity of 86.33% and a net margin of 1.17%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the business posted $0.40 EPS. The business’s revenue was down 1.6% compared to the same quarter last year. Owens-Illinois updated its FY17 guidance to $2.40-2.50 EPS and its Q1 guidance to $0.50-0.55 EPS.
A number of research firms recently weighed in on OI. Zacks Investment Research cut Owens-Illinois from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. Deutsche Bank AG restated a “hold” rating and issued a $20.00 price target (up previously from $18.73) on shares of Owens-Illinois in a research note on Tuesday, November 22nd. RBC Capital Markets restated a “hold” rating and issued a $19.00 price target on shares of Owens-Illinois in a research note on Wednesday, January 4th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $19.00 price target on shares of Owens-Illinois in a research note on Thursday, October 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. Owens-Illinois currently has a consensus rating of “Hold” and an average price target of $20.69.
Hedge funds have recently modified their holdings of the company. Point72 Asia Hong Kong Ltd acquired a new stake in shares of Owens-Illinois during the second quarter worth approximately $104,000. Globeflex Capital L P acquired a new stake in shares of Owens-Illinois during the second quarter worth approximately $197,000. TCW Group Inc. acquired a new stake in shares of Owens-Illinois during the second quarter worth approximately $213,000. First Allied Advisory Services Inc. acquired a new stake in shares of Owens-Illinois during the second quarter worth approximately $220,000. Finally, Pacer Advisors Inc. acquired a new stake in shares of Owens-Illinois during the second quarter worth approximately $265,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

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