O-I Glass (NYSE:OI) Announces 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 positive return on equity of 9.16% and a negative net margin of 6.34%.

O-I Glass Trading Up 1.1 %

Shares of OI traded up $0.13 during trading hours on Tuesday, hitting $11.74. The stock had a trading volume of 1,883,744 shares, compared to its average volume of 1,398,643. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23. The firm has a market cap of $1.82 billion, a P/E ratio of -4.25 and a beta of 1.22. The company’s fifty day simple moving average is $11.11 and its 200 day simple moving average is $11.96. O-I Glass has a 12-month low of $9.85 and a 12-month high of $17.58.

Analysts Set New Price Targets

OI has been the topic of a number of recent research reports. Royal Bank of Canada reduced their target price on O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Wells Fargo & Company reduced their target price on O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Barclays reduced their target price on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Citigroup reduced their price target on O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Finally, Bank of America increased their price target on O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, O-I Glass presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.38.

O-I Glass Company Profile

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.