O-I Glass (NYSE:OI) Releases FY 2024 Earnings Guidance

O-I Glass (NYSE:OI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.700-0.800 for the period, compared to the consensus estimate of 1.130. The company issued revenue guidance of -. O-I Glass also updated its FY24 guidance to $0.70-0.80 EPS.

O-I Glass Stock Performance

O-I Glass stock remained flat at $11.11 during trading on Friday. 477,043 shares of the company were exchanged, compared to its average volume of 1,687,452. The company has a fifty day moving average of $12.70 and a 200-day moving average of $12.46. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.75. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -4.07 and a beta of 1.17. O-I Glass has a 1 year low of $10.08 and a 1 year high of $17.58.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.08). The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 EPS. Analysts anticipate that O-I Glass will post 0.75 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Citigroup boosted their target price on O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada reduced their price objective on O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday. Barclays reduced their price objective on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday. Bank of America upgraded O-I Glass from a “neutral” rating to a “buy” rating and upped their price target for the stock from $14.00 to $16.00 in a research note on Thursday, October 17th. Finally, UBS Group dropped their price objective on O-I Glass from $26.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.25.

Insider Buying and Selling at O-I Glass

In other news, Director John Humphrey bought 15,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of $11.30 per share, with a total value of $169,500.00. Following the completion of the acquisition, the director now owns 84,227 shares of the company’s stock, valued at approximately $951,765.10. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.49% of the stock is owned by corporate insiders.

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.