Zacks: Analysts Expect Owens-Illinois Inc (OI) Will Post Quarterly Sales of $1.64 Billion
Wall Street brokerages forecast that Owens-Illinois Inc (NYSE:OI) will announce $1.64 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Owens-Illinois’ earnings. The highest sales estimate is $1.69 billion and the lowest is $1.58 billion. Owens-Illinois reported sales of $1.74 billion in the same quarter last year, which would suggest a negative year over year growth rate of 5.7%. The firm is scheduled to report its next earnings report after the market closes on Wednesday, May 1st.
On average, analysts expect that Owens-Illinois will report full year sales of $6.80 billion for the current financial year, with estimates ranging from $6.71 billion to $6.87 billion. For the next fiscal year, analysts anticipate that the business will report sales of $6.85 billion, with estimates ranging from $6.64 billion to $7.04 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Owens-Illinois.
Owens-Illinois (NYSE:OI) last released its earnings results on Tuesday, February 5th. The industrial products company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Owens-Illinois had a return on equity of 44.17% and a net margin of 3.75%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 EPS.
In other Owens-Illinois news, insider Timothy M. Connors sold 44,715 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $19.55, for a total value of $874,178.25. Following the transaction, the insider now directly owns 48,105 shares in the company, valued at approximately $940,452.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Moyano Giancarlo Currarino sold 57,560 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $19.68, for a total transaction of $1,132,780.80. Following the completion of the transaction, the senior vice president now owns 63,508 shares in the company, valued at $1,249,837.44. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.
A number of large investors have recently bought and sold shares of OI. Alpha Omega Wealth Management LLC acquired a new position in Owens-Illinois in the 4th quarter valued at about $29,000. Destination Wealth Management acquired a new position in shares of Owens-Illinois in the 4th quarter worth approximately $41,000. North Star Investment Management Corp. lifted its holdings in shares of Owens-Illinois by 105.7% in the 1st quarter. North Star Investment Management Corp. now owns 2,160 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 1,110 shares during the last quarter. Legacy Advisors LLC acquired a new position in shares of Owens-Illinois in the 1st quarter worth approximately $48,000. Finally, NumerixS Investment Technologies Inc acquired a new position in shares of Owens-Illinois in the 4th quarter worth approximately $53,000. Institutional investors own 96.15% of the company’s stock.
Shares of OI stock traded up $0.33 on Tuesday, reaching $19.57. 720,016 shares of the company were exchanged, compared to its average volume of 1,255,697. The stock has a market capitalization of $2.99 billion, a P/E ratio of 7.19, a P/E/G ratio of 0.90 and a beta of 1.35. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 5.76. Owens-Illinois has a 1 year low of $15.67 and a 1 year high of $22.16.
Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Americas, Europe, and Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. The company is also involved in the production of glass packaging for various food items, soft drinks, teas, juices, and pharmaceuticals.
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