O-I Glass (NYSE:OI – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. 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.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on OI shares. 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. Wells Fargo & Company reduced their price target on O-I Glass from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Truist Financial restated a “buy” rating and set a $16.00 price objective (down from $17.00) on shares of O-I Glass in a research note on Thursday, August 1st. Finally, Citigroup upped their target price on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.50.
Read Our Latest Research Report on OI
O-I Glass Price Performance
O-I Glass (NYSE:OI – Get Free Report) last issued its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.07). O-I Glass had a negative net margin of 4.32% and a positive return on equity of 15.64%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the business posted $0.80 EPS. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, research analysts anticipate that O-I Glass will post 1.11 EPS for the current fiscal year.
Insider Buying and Selling at O-I Glass
In other O-I Glass news, Director John Humphrey acquired 15,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average cost of $11.30 per share, with a total value of $169,500.00. Following the purchase, the director now directly owns 84,227 shares of the company’s stock, valued at approximately $951,765.10. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.49% of the stock is currently owned by company insiders.
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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