O-I Glass Stock Earnings Estimates Lowered by Zacks Research

Key Points

• Zacks Research lowered O-I Glass’s Q2 2028 EPS estimate to $0.71 from $0.72 and maintained a “Hold” rating; its Q3 2028 estimate is $0.73 per share.
• Analyst sentiment is mixed but cautious, with O-I Glass carrying an average “Hold” rating and a $9.69 price target after several firms recently cut ratings or price objectives.
• The stock opened at $6.08 and remains near its 12-month low, while the company’s latest quarterly EPS of $0.09 missed the $0.24 consensus estimate and revenue declined 2.2% year over year.

O-I Glass, Inc. (NYSE:OI - Free Report) - Research analysts at Zacks Research reduced their Q2 2028 earnings per share (EPS) estimates for O-I Glass in a report issued on Friday, October 9th. Zacks Research analyst Team now anticipates that the industrial products company will post earnings of $0.71 per share for the quarter, down from their prior forecast of $0.72. Zacks Research has a "Hold" rating on the stock. The consensus estimate for O-I Glass' current full-year earnings is $0.30 per share. Zacks Research also issued estimates for O-I Glass' Q3 2028 earnings at $0.73 EPS.

Other research analysts have also issued research reports about the stock. Royal Bank Of Canada lowered shares of O-I Glass from an "outperform" rating to a "sector perform" rating and dropped their price target for the stock from $10.00 to $8.00 in a research note on Thursday, August 13th. Bank of America restated an "underperform" rating and set a $11.00 price target on shares of O-I Glass in a report on Tuesday, July 14th. Wells Fargo & Company reduced their price objective on shares of O-I Glass from $13.00 to $12.00 and set an "overweight" rating for the company in a research note on Wednesday, July 15th. UBS Group lowered shares of O-I Glass from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $11.00 to $6.00 in a research note on Monday, October 5th. Finally, Truist Financial decreased their price objective on shares of O-I Glass from $13.00 to $10.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, O-I Glass presently has an average rating of "Hold" and an average target price of $9.69.

O-I Glass Price Performance

NYSE OI opened at $6.08 on Monday. 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 stock has a market capitalization of $933.48 million, a PE ratio of -0.81, a price-to-earnings-growth ratio of 2.75 and a beta of 0.68. O-I Glass has a 12-month low of $5.30 and a 12-month high of $16.91. The company has a 50 day moving average price of $6.59 and a two-hundred day moving average price of $8.41.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.15). O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%. The firm had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same period last year, the business earned $0.53 earnings per share. The firm's revenue for the quarter was down 2.2% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in O-I Glass in the 2nd quarter worth approximately $225,727,000. Dimensional Fund Advisors LP boosted its position in O-I Glass by 8.6% during the first quarter. Dimensional Fund Advisors LP now owns 9,238,635 shares of the industrial products company's stock worth $97,094,000 after purchasing an additional 729,191 shares during the period. Cooper Creek Partners Management LLC boosted its position in O-I Glass by 73.8% during the first quarter. Cooper Creek Partners Management LLC now owns 7,006,293 shares of the industrial products company's stock worth $73,636,000 after purchasing an additional 2,975,181 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in O-I Glass by 32.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,246,337 shares of the industrial products company's stock valued at $44,629,000 after purchasing an additional 1,030,705 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in O-I Glass by 15.6% during the first quarter. Bank of America Corp DE now owns 3,563,497 shares of the industrial products company's stock valued at $37,452,000 after purchasing an additional 479,608 shares during the last quarter. 97.24% of the stock is owned by institutional investors.

About O-I Glass

O-I Glass, Inc NYSE: OI is a global manufacturer of glass packaging. The company produces glass bottles and jars for food, beverages, beer, wine, spirits, pharmaceuticals and other consumer products, serving brand owners and manufacturers that use glass containers for packaging.

The company operates glass-container manufacturing facilities and provides related design, engineering and packaging services. Its products are used across a range of markets and geographies, including North and South America, Europe and other international markets.

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