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

O-I Glass (NYSE:OI) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, July 30th. Analysts expect the company to announce 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.Investors that wish to register for the company’s 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 EPS for the quarter, topping the consensus estimate of $0.36 by $0.09. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.69 billion. O-I Glass had a positive return on equity of 18.25% and a negative net margin of 3.45%. O-I Glass’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same period last year, the business earned $1.29 earnings per share. 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 Stock Up 2.4 %

Shares of NYSE OI opened at $11.56 on Monday. The stock has a market cap of $1.80 billion, a PE ratio of -7.27, a PEG ratio of 1.10 and a beta of 1.24. The business has a fifty day moving average of $11.60 and a two-hundred day moving average of $14.08. O-I Glass has a 52-week low of $10.08 and a 52-week high of $23.49. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.56 and a current ratio of 1.02.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Citigroup lowered their target price on O-I Glass from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Monday, July 8th. UBS Group lowered their price objective on O-I Glass from $26.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Wells Fargo & Company lowered their price objective on O-I Glass from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Bank of America restated a “neutral” rating and set a $16.00 target price (down from $21.00) on shares of O-I Glass in a research report on Friday, April 19th. Finally, Truist Financial restated a “buy” rating and set a $17.00 target price (down from $20.00) on shares of O-I Glass in a research report on Thursday, May 2nd. One investment 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.