O-I Glass (OI) Set to Announce Earnings on Tuesday

O-I Glass (NYSE:OI) will be posting its quarterly earnings results after the market closes on Tuesday, July 30th. Analysts expect O-I Glass to post earnings of $0.41 per share for the quarter. O-I Glass has set its FY24 guidance at $1.50-2.00 EPS and its FY 2024 guidance at 1.500-2.000 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.09. O-I Glass had a negative net margin of 3.45% and a positive return on equity of 18.25%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter last year, the company posted $1.29 earnings per share. The firm’s revenue was down 13.0% compared to the same quarter last year. On average, analysts expect O-I Glass to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

O-I Glass Trading Up 2.4 %

Shares of O-I Glass stock opened at $11.56 on Monday. O-I Glass has a 1 year low of $10.08 and a 1 year high of $23.49. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.02 and a quick ratio of 0.56. The firm has a fifty day moving average price of $11.60 and a 200 day moving average price of $14.08. The stock has a market cap of $1.80 billion, a PE ratio of -7.27, a price-to-earnings-growth ratio of 1.10 and a beta of 1.24.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on OI shares. Barclays cut their price objective on shares of O-I Glass from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Monday, May 6th. Wells Fargo & Company lowered their price target on shares of O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Citigroup lowered their price target on shares of O-I Glass from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, July 8th. Truist Financial restated a “buy” rating and set a $17.00 price target (down from $20.00) on shares of O-I Glass in a research report on Thursday, May 2nd. Finally, Bank of America reiterated a “neutral” rating and issued a $16.00 target price (down from $21.00) on shares of O-I Glass in a report on Friday, April 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.89.

O-I Glass Company Profile

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.