O-I Glass (NYSE:OI) Releases Earnings Results, Misses Expectations By $0.25 EPS

O-I Glass (NYSE:OI) released its earnings results on Tuesday. The industrial products company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.25), FiscalAI reports. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.64 billion. O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%.

O-I Glass Stock Up 0.1%

NYSE OI traded up $0.01 during mid-day trading on Tuesday, reaching $6.45. The stock had a trading volume of 6,086,941 shares, compared to its average volume of 2,883,464. The stock has a market cap of $990.65 million, a PE ratio of -0.86, a price-to-earnings-growth ratio of 2.49 and a beta of 0.68. O-I Glass has a 1 year low of $5.30 and a 1 year high of $16.91. The company has a debt-to-equity ratio of 8.89, a current ratio of 1.26 and a quick ratio of 0.77. The company has a fifty day moving average price of $6.35 and a 200 day moving average price of $9.73.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on OI shares. Robert W. Baird set a $13.00 price objective on shares of O-I Glass in a research note on Thursday, July 30th. UBS Group cut shares of O-I Glass from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $11.00 to $6.00 in a report on Monday, October 5th. Royal Bank Of Canada decreased their target price on shares of O-I Glass from $8.00 to $7.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 13th. Truist Financial dropped their price target on O-I Glass from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Finally, Citigroup raised O-I Glass from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $8.00 to $9.00 in a research report on Friday, August 21st. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $9.06.

About O-I Glass

O-I Glass, Inc is a global manufacturer of glass packaging products. The company produces glass bottles and jars primarily for the food, beverage, beer, wine, spirits, and pharmaceutical industries, serving brand owners and consumer-products companies.

Its products are designed to provide packaging, preservation, and presentation for a range of consumer goods. O-I also offers glass packaging in various shapes, sizes, and colors, including custom solutions developed for individual brands.

The company traces its history to the Owens Bottle Company, founded in 1903, and the Illinois Glass Company.