Zacks Research Has Negative Outlook of O-I Glass Q1 Earnings

O-I Glass, Inc. (NYSE:OI) – Equities research analysts at Zacks Research dropped their Q1 2027 earnings per share estimates for O-I Glass in a research note issued on Tuesday, August 11th. Zacks Research analyst Team now forecasts that the industrial products company will post earnings of $0.30 per share for the quarter, down from their prior forecast of $0.34. Zacks Research currently has a “Hold” rating on the stock. The consensus estimate for O-I Glass’ current full-year earnings is $0.70 per share.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.15). O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%.The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the previous year, the company earned $0.53 EPS. O-I Glass’s quarterly revenue was down 2.2% on a year-over-year basis.

Several other brokerages also recently issued reports on OI. Truist Financial lowered their price objective on shares of O-I Glass from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Wells Fargo & Company reduced their target price on shares of O-I Glass from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Weiss Ratings downgraded shares of O-I Glass from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, July 30th. Citigroup lowered their price target on shares of O-I Glass from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, July 31st. Finally, Royal Bank Of Canada dropped their price target on shares of O-I Glass from $14.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $10.56.

O-I Glass Stock Performance

O-I Glass stock opened at $7.14 on Wednesday. The stock’s 50 day moving average price is $8.77 and its 200 day moving average price is $10.61. The firm has a market capitalization of $1.10 billion, a PE ratio of -0.95, a price-to-earnings-growth ratio of 1.37 and a beta of 0.66. The company has a debt-to-equity ratio of 8.89, a quick ratio of 0.77 and a current ratio of 1.26. O-I Glass has a one year low of $6.82 and a one year high of $16.91.

Institutional Trading of O-I Glass

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in O-I Glass in the second quarter valued at $225,727,000. Alliancebernstein L.P. grew its holdings in O-I Glass by 194.6% during the 2nd quarter. Alliancebernstein L.P. now owns 7,939,841 shares of the industrial products company’s stock worth $117,033,000 after acquiring an additional 5,244,440 shares in the last quarter. Cooper Creek Partners Management LLC grew its holdings in O-I Glass by 73.8% during the 1st quarter. Cooper Creek Partners Management LLC now owns 7,006,293 shares of the industrial products company’s stock worth $73,636,000 after acquiring an additional 2,975,181 shares in the last quarter. Wellington Management Group LLP acquired a new position in O-I Glass during the 4th quarter worth $40,090,000. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of O-I Glass by 288.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,215,632 shares of the industrial products company’s stock worth $47,463,000 after purchasing an additional 2,388,299 shares during the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.

Insider Transactions at O-I Glass

In other O-I Glass news, SVP Eduardo Restrepo acquired 3,309 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were bought at an average cost of $8.98 per share, for a total transaction of $29,714.82. Following the acquisition, the senior vice president directly owned 94,199 shares of the company’s stock, valued at $845,907.02. This trade represents a 3.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.

O-I Glass Company Profile

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.