O-I Glass (NYSE:OI) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

O-I Glass (NYSE:OI) posted its earnings results on Tuesday. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02, Zacks reports. O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%.

O-I Glass Price Performance

Shares of NYSE OI traded up $0.13 during midday trading on Tuesday, reaching $11.74. The company’s stock had a trading volume of 1,883,745 shares, compared to its average volume of 1,403,024. O-I Glass has a one year low of $9.85 and a one year high of $17.58. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -4.25 and a beta of 1.22. The company has a 50 day moving average price of $11.11 and a 200 day moving average price of $11.96. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on OI shares. Citigroup decreased their price objective on O-I Glass from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Wells Fargo & Company decreased their price target on O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Bank of America raised their price target on O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, January 6th. StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Barclays dropped their price target on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $15.38.

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.