O-I Glass (NYSE:OI) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

O-I Glass (NYSE:OI) issued its quarterly earnings data on Tuesday. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04, Zacks reports. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. The company’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.04) EPS. O-I Glass updated its FY 2025 guidance to 1.550-1.650 EPS.

O-I Glass Stock Performance

Shares of NYSE:OI traded up $0.07 during trading on Tuesday, hitting $11.83. The company’s stock had a trading volume of 2,187,850 shares, compared to its average volume of 1,531,952. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.24 and a quick ratio of 0.77. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -7.17, a P/E/G ratio of 0.22 and a beta of 0.93. The company has a 50-day moving average of $12.51 and a 200-day moving average of $13.26. O-I Glass has a 12 month low of $9.23 and a 12 month high of $16.04.

Analysts Set New Price Targets

A number of research analysts have recently commented on OI shares. Truist Financial lowered their target price on O-I Glass from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Wall Street Zen downgraded shares of O-I Glass from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Wells Fargo & Company reissued a “mixed” rating on shares of O-I Glass in a research report on Monday, August 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of O-I Glass in a research note on Wednesday, October 8th. Finally, Zacks Research lowered shares of O-I Glass from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.56.

Hedge Funds Weigh In On O-I Glass

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new stake in O-I Glass in the 2nd quarter worth approximately $29,000. State of Wyoming bought a new position in shares of O-I Glass in the second quarter worth about $35,000. Smartleaf Asset Management LLC raised its stake in O-I Glass by 64.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 918 shares during the period. Osaic Holdings Inc. boosted its stake in O-I Glass by 29.7% in the 2nd quarter. Osaic Holdings Inc. now owns 6,779 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 1,554 shares during the period. Finally, United Services Automobile Association purchased a new stake in O-I Glass during the 1st quarter valued at approximately $119,000. 97.24% of the stock is currently 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.