O-I Glass (NYSE:OI) Releases Earnings Results, Beats Expectations By $0.02 EPS

O-I Glass (NYSE:OI) issued its earnings results on Tuesday. The industrial products company reported ($0.05) EPS for the quarter, topping the consensus estimate 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 Stock Up 1.1 %

NYSE OI traded up $0.13 during trading on Tuesday, hitting $11.74. 1,883,745 shares of the company traded hands, compared to its average volume of 1,403,024. O-I Glass has a 12 month low of $9.85 and a 12 month high of $17.58. The business has a fifty day simple moving average of $11.11 and a 200 day simple moving average of $11.96. The company has a market capitalization of $1.82 billion, a P/E ratio of -4.25 and a beta of 1.22. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18.

Analysts Set New Price Targets

OI has been the subject of a number of research reports. Wells Fargo & Company decreased their price objective on O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Citigroup lowered their price objective on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Bank of America lifted their target price on shares of O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Royal Bank of Canada dropped their price target on shares of 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. Finally, StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.38.

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.