O-I Glass (NYSE:OI – Get Free Report) issued its earnings results on Tuesday. The industrial products company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.07), Briefing.com reports. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. O-I Glass’s quarterly revenue was down 3.7% compared to the same quarter last year. O-I Glass updated its FY24 guidance to $0.70-0.80 EPS and its FY 2024 guidance to 0.700-0.800 EPS.
O-I Glass Stock Down 4.6 %
O-I Glass stock traded down $0.57 during midday trading on Wednesday, reaching $11.87. The company’s stock had a trading volume of 2,025,271 shares, compared to its average volume of 1,683,175. The stock’s 50-day simple moving average is $12.73 and its 200-day simple moving average is $12.48. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.26 and a quick ratio of 0.75. O-I Glass has a 52-week low of $10.08 and a 52-week high of $17.58. The stock has a market capitalization of $1.85 billion, a P/E ratio of -7.35 and a beta of 1.17.
Insider Activity
In other news, Director John Humphrey acquired 15,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average cost of $11.30 per share, with a total value of $169,500.00. Following the completion of the acquisition, the director now owns 84,227 shares of the company’s stock, valued at approximately $951,765.10. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.49% of the company’s stock.
Wall Street Analyst Weigh In
View Our Latest Research Report on O-I Glass
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.
Recommended Stories
- Five stocks we like better than O-I Glass
- ESG Stocks, What Investors Should Know
- Boeing: Why Analysts Think Now’s The Time To Be Brave
- EV Stocks and How to Profit from Them
- Advanced Micro Devices is Building Momentum with AI: Buy the Dip
- How to Calculate Retirement Income: MarketBeat’s Calculator
- Can Evolv Stock Recover From Its Massive Self-Inflicted Drop?
Receive News & Ratings for O-I Glass Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for O-I Glass and related companies with MarketBeat.com's FREE daily email newsletter.