Zacks Research Decreases Earnings Estimates for O-I Glass

O-I Glass, Inc. (NYSE:OI) – Zacks Research cut their FY2024 earnings per share (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 post earnings per share of $0.75 for the year, down from their prior estimate 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.

OI has been the subject of a number of other research reports. Barclays cut their price target on shares of 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. Royal Bank of Canada cut their target price on 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. Citigroup upped their price target on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and upped their target price for the company from $14.00 to $16.00 in a research report on Thursday, October 17th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.25.

O-I Glass Price Performance

Shares of OI stock opened at $10.04 on Friday. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.77. The company has a market capitalization of $1.55 billion, a PE ratio of -3.64 and a beta of 1.20. The firm’s 50-day moving average is $12.21 and its two-hundred day moving average is $12.07. O-I Glass has a 12 month low of $9.85 and a 12 month high of $17.58.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The company had revenue of $1.68 billion during the quarter, compared to analyst estimates 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 firm’s revenue was down 3.7% compared to the same quarter last year. During the same period last year, the business earned $0.80 earnings per share.

Hedge Funds Weigh In On O-I Glass

Several hedge funds have recently bought and sold shares of OI. Harbor Capital Advisors Inc. purchased a new stake in O-I Glass during the third quarter worth about $27,000. Newbridge Financial Services Group Inc. boosted its position in O-I Glass by 1,337.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock valued at $32,000 after buying an additional 2,675 shares during the period. GAMMA Investing LLC grew its stake in shares of O-I Glass by 371.0% in the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 1,892 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of O-I Glass by 28.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 1,136 shares during the period. Finally, KBC Group NV raised its stake in shares of O-I Glass by 38.9% in the third quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock valued at $71,000 after acquiring an additional 1,521 shares in the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.

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.