Owens-Illinois Inc (OI) Receives Average Rating of “Hold” from Brokerages
Shares of Owens-Illinois Inc (NYSE:OI) have been assigned a consensus recommendation of “Hold” from the twelve analysts that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $21.76.
Several research firms have issued reports on OI. Zacks Investment Research cut shares of Owens-Illinois from a “hold” rating to a “sell” rating in a research note on Friday, February 1st. TheStreet cut shares of Owens-Illinois from a “b” rating to a “c+” rating in a research note on Monday, March 11th. ValuEngine upgraded shares of Owens-Illinois from a “strong sell” rating to a “sell” rating in a research note on Tuesday, April 30th. UFS upgraded shares of Owens-Illinois from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 30th. Finally, Bank of America cut shares of Owens-Illinois from a “buy” rating to a “neutral” rating and set a $19.72 target price on the stock. in a research note on Thursday, February 7th. They noted that the move was a valuation call.
In other news, insider Timothy M. Connors sold 44,715 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $19.55, for a total transaction of $874,178.25. Following the sale, the insider now owns 48,105 shares in the company, valued at approximately $940,452.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Moyano Giancarlo Currarino sold 57,560 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $19.68, for a total transaction of $1,132,780.80. Following the sale, the senior vice president now owns 63,508 shares in the company, valued at approximately $1,249,837.44. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.
Shares of OI stock opened at $17.22 on Friday. The company has a market cap of $2.64 billion, a P/E ratio of 6.33, a price-to-earnings-growth ratio of 0.84 and a beta of 1.35. The company has a debt-to-equity ratio of 5.76, a quick ratio of 0.83 and a current ratio of 1.39. Owens-Illinois has a 12 month low of $15.67 and a 12 month high of $20.78.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.02). The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Owens-Illinois had a net margin of 3.53% and a return on equity of 43.45%. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. As a group, research analysts forecast that Owens-Illinois will post 2.91 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, May 30th. Owens-Illinois’s dividend payout ratio is presently 7.35%.
Owens-Illinois Company Profile
Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Americas, Europe, and Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. The company is also involved in the production of glass packaging for various food items, soft drinks, teas, juices, and pharmaceuticals.
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