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

Key Points

• O-I Glass reported a quarterly loss of $0.09 per share, missing analysts’ expected EPS of $0.16 by $0.25. Revenue was $1.62 billion, slightly below the $1.64 billion consensus estimate.
• The stock traded at $6.45, near its 52-week low of $5.30 and well below its 52-week high of $16.91. O-I Glass also reported high leverage, with a debt-to-equity ratio of 8.89.
• Analyst sentiment remains mixed but leans toward caution: the stock has a consensus “Hold” rating and an average price target of $9.06, with three Buy, four Hold, and two Sell ratings.

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

O-I Glass Stock Performance

OI traded up $0.01 during trading on Tuesday, hitting $6.45. 6,086,941 shares of the company traded hands, compared to its average volume of 2,883,464. O-I Glass has a one year low of $5.30 and a one year high of $16.91. The stock's fifty day moving average is $6.35 and its 200 day moving average is $9.73. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 8.89. The firm has a market cap of $990.65 million, a P/E ratio of -0.86, a price-to-earnings-growth ratio of 2.49 and a beta of 0.68.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OI. Zacks Research raised shares of O-I Glass from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Weiss Ratings cut shares of O-I Glass from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, October 21st. UBS Group downgraded shares of O-I Glass from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $11.00 to $6.00 in a research report on Monday, October 5th. Citigroup upgraded shares of O-I Glass from a "neutral" rating to a "buy" rating and increased their price objective for the company from $8.00 to $9.00 in a research note on Friday, August 21st. Finally, Robert W. Baird set a $13.00 price objective on shares of O-I Glass in a research note on Thursday, July 30th. Three equities 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target 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.

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