O-I Glass (NYSE:OI – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.00-1.25 for the period, compared to the consensus earnings per share estimate of $1.66.
Wall Street Analysts Forecast Growth
Several research firms recently commented on OI. UBS Group dropped their target price on O-I Glass from $26.00 to $18.00 and set a buy rating for the company in a research note on Wednesday, July 17th. Bank of America reiterated a neutral rating and set a $16.00 price objective (down from $21.00) on shares of O-I Glass in a report on Friday, April 19th. Citigroup lowered their target price on shares of O-I Glass from $14.00 to $12.00 and set a neutral rating for the company in a report on Monday, July 8th. StockNews.com downgraded shares of O-I Glass from a hold rating to a sell rating in a research note on Tuesday, July 9th. Finally, Wells Fargo & Company decreased 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 report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $17.89.
Check Out Our Latest Research Report on OI
O-I Glass Stock Up 1.5 %
O-I Glass (NYSE:OI – Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. The company had revenue of $1.59 billion for 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%. The firm’s quarterly revenue was down 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 earnings per share. On average, equities research analysts anticipate that O-I Glass will post 1.71 EPS for the current fiscal year.
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.
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