FY2023 Earnings Estimate for O-I Glass, Inc. Issued By Truist Securities (NYSE:OI)

O-I Glass, Inc. (NYSE:OI) – Investment analysts at Truist Securities lowered their FY2023 EPS estimates for O-I Glass in a research note issued on Wednesday, January 12th. Truist Securities analyst M. Roxland now expects that the industrial products company will post earnings of $2.25 per share for the year, down from their previous forecast of $2.30. Truist Securities also issued estimates for O-I Glass’ FY2024 earnings at $2.45 EPS.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Sunday, October 24th. The industrial products company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.06. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. O-I Glass had a return on equity of 69.39% and a net margin of 1.23%. O-I Glass’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 earnings per share.

A number of other research analysts also recently commented on the company. KeyCorp lowered their target price on O-I Glass from $13.00 to $12.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 27th. Citigroup lowered their target price on O-I Glass from $14.00 to $13.00 in a research note on Tuesday, January 4th. Royal Bank of Canada lowered their target price on O-I Glass from $16.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 28th. Wells Fargo & Company upgraded O-I Glass from an “underweight” rating to an “equal weight” rating in a research note on Wednesday. Finally, TheStreet downgraded O-I Glass from a “b-” rating to a “c” rating in a research note on Monday, October 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $16.00.

NYSE:OI opened at $14.28 on Thursday. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 0.39 and a beta of 1.73. O-I Glass has a 1-year low of $10.64 and a 1-year high of $19.46. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 8.51. The business’s fifty day moving average price is $12.02 and its 200 day moving average price is $13.81.

A number of large investors have recently made changes to their positions in OI. Spire Wealth Management raised its holdings in O-I Glass by 81.9% in the 4th quarter. Spire Wealth Management now owns 16,479 shares of the industrial products company’s stock valued at $198,000 after acquiring an additional 7,420 shares in the last quarter. Camelot Portfolios LLC raised its holdings in O-I Glass by 43.7% in the 4th quarter. Camelot Portfolios LLC now owns 25,495 shares of the industrial products company’s stock valued at $307,000 after acquiring an additional 7,757 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in O-I Glass by 2.4% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 218,703 shares of the industrial products company’s stock valued at $3,121,000 after acquiring an additional 5,121 shares in the last quarter. Moors & Cabot Inc. acquired a new position in O-I Glass in the 3rd quarter valued at approximately $374,000. Finally, Bank of New York Mellon Corp raised its holdings in O-I Glass by 0.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,748,180 shares of the industrial products company’s stock valued at $24,947,000 after acquiring an additional 11,694 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

About O-I Glass

O-I Glass, Inc engages in manufacturing of glass products. It offers products to the food and beverage sectors. The firm operates through the following geographical segments: Americas, Europe, and Asia Pacific. The company was founded in 1929 and is headquartered in Perrysburg, OH.

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