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

O-I Glass, Inc. (NYSE:OI) – Investment analysts at Zacks Research decreased their FY2024 EPS estimates for O-I Glass in a report issued on Wednesday, December 18th. Zacks Research analyst M. Das now expects that the industrial products company will earn $0.75 per share for the year, down from their prior forecast of $0.77. The consensus estimate for O-I Glass’ current full-year earnings is $0.76 per share. Zacks Research also issued estimates for O-I Glass’ Q1 2025 earnings at $0.17 EPS, FY2025 earnings at $1.41 EPS, Q2 2026 earnings at $0.40 EPS and FY2026 earnings at $1.90 EPS.

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

Several other brokerages also recently weighed in on OI. Barclays dropped their price objective on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Citigroup increased their target price on shares of 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 shares of O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Royal Bank of Canada dropped their price objective on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $16.00 in a research note on Thursday, October 17th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.25.

O-I Glass Stock Down 4.1 %

NYSE OI opened at $9.95 on Friday. The business has a fifty day moving average price of $12.28 and a two-hundred day moving average price of $12.08. The stock has a market capitalization of $1.54 billion, a PE ratio of -3.61 and a beta of 1.20. O-I Glass has a fifty-two week low of $9.94 and a fifty-two week high of $17.58. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.77.

Institutional Trading of O-I Glass

A number of institutional investors and hedge funds have recently bought and sold shares of OI. Dimensional Fund Advisors LP lifted its holdings in O-I Glass by 8.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company’s stock worth $78,952,000 after buying an additional 573,300 shares during the period. Geode Capital Management LLC increased its stake in shares of O-I Glass by 1.1% in the third quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company’s stock valued at $46,827,000 after buying an additional 37,238 shares during the period. Levin Capital Strategies L.P. raised its position in shares of O-I Glass by 25.0% during the second quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company’s stock worth $39,082,000 after acquiring an additional 703,308 shares during the last quarter. Private Management Group Inc. lifted its stake in shares of O-I Glass by 20.8% in the third quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company’s stock worth $39,698,000 after acquiring an additional 520,452 shares during the period. Finally, Segall Bryant & Hamill LLC bought a new stake in O-I Glass in the third quarter valued at approximately $32,350,000. 97.24% of the stock is currently owned by institutional investors and hedge funds.

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.