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

O-I Glass, Inc. (NYSE:OI) – Equities researchers at Zacks Research dropped their FY2024 earnings estimates for O-I Glass in a research report issued to clients and investors on Tuesday, November 12th. Zacks Research analyst M. Das now forecasts that the industrial products company will post earnings of $0.77 per share for the year, down from their previous estimate of $1.17. The consensus estimate for O-I Glass’ current full-year earnings is $0.75 per share. Zacks Research also issued estimates for O-I Glass’ Q4 2024 earnings at ($0.08) EPS, Q2 2025 earnings at $0.34 EPS, Q4 2025 earnings at $0.37 EPS and FY2025 earnings at $1.45 EPS.

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

Other equities analysts have also recently issued reports about the company. Citigroup lifted their target price on O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Truist Financial restated a “buy” rating and set a $16.00 price objective (down previously from $17.00) on shares of O-I Glass in a report on Thursday, August 1st. Royal Bank of Canada decreased their target price on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Robert W. Baird cut their price target on shares of O-I Glass from $22.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Three equities 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 has a consensus rating of “Moderate Buy” and a consensus price target of $16.25.

O-I Glass Trading Down 1.3 %

O-I Glass stock opened at $12.97 on Friday. O-I Glass has a 1 year low of $10.08 and a 1 year high of $17.58. The firm’s 50 day moving average price is $12.68 and its two-hundred day moving average price is $12.26. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -4.70 and a beta of 1.20. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23.

Institutional Trading of O-I Glass

Hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. acquired a new position in O-I Glass in the 3rd quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. grew its holdings in shares of O-I Glass by 1,337.5% during 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 acquiring an additional 2,675 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of O-I Glass by 371.0% in the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 1,892 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of O-I Glass during the first quarter worth $39,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of O-I Glass by 28.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 1,136 shares in the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

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.