Zacks Research Lowers Earnings Estimates for O-I Glass

O-I Glass, Inc. (NYSE:OI) – Stock analysts at Zacks Research dropped their FY2024 earnings per share (EPS) estimates for shares of O-I Glass in a research note issued on Wednesday, December 18th. Zacks Research analyst M. Das now expects that the industrial products company will post earnings per share of $0.75 for the year, down from their previous 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 released its 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). O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the business posted $0.80 EPS. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis.

OI has been the subject of several other research reports. Barclays cut their price objective on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Bank of America upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and increased their price target for the company from $14.00 to $16.00 in a research note on Thursday, October 17th. Royal Bank of Canada lowered their price objective on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Citigroup raised their target price on shares of O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.25.

O-I Glass Stock Performance

Shares of NYSE OI opened at $9.95 on Friday. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23. The stock has a 50 day moving average price of $12.28 and a 200 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 52 week low of $9.94 and a 52 week high of $17.58.

Institutional Trading of O-I Glass

Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position 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 position in O-I Glass by 1.1% during the third quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company’s stock worth $46,827,000 after acquiring an additional 37,238 shares during the period. Levin Capital Strategies L.P. raised its stake in O-I Glass by 25.0% in the 2nd quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company’s stock worth $39,082,000 after purchasing an additional 703,308 shares in the last quarter. Private Management Group Inc. boosted its holdings in O-I Glass by 20.8% in the 3rd quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company’s stock valued at $39,698,000 after purchasing an additional 520,452 shares during the period. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of O-I Glass during the 3rd quarter worth approximately $32,350,000. 97.24% of the stock is 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.