Owens-Illinois Inc (OI) reported quarterly earnings results on Monday, May-2-2016. The company said it had a profit of $0.48 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.08. Analysts had a consensus of $0.40. The company posted revenue of $1588.00 million in the period, compared to analysts expectations of $1536.95 million. The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.
Many Wall Street Analysts have commented on Owens-Illinois Inc. Company shares were Upgraded by Citigroup on Apr 6, 2016 to ” Buy”, Firm has raised the Price Target to $ 19 from a previous price target of $15 .
Owens-Illinois Inc opened for trading at $18.31 and hit $18.505 on the upside on Wednesday, eventually ending the session at $18.46, with a gain of 0.87% or 0.16 points. The heightened volatility saw the trading volume jump to 22,38,007 shares. Company has a market cap of $2,972 M.
In a different news, on Mar 9, 2016, Albert P L Stroucken (Exec. Chairman of the Board) sold 56,148 shares at $14.94 per share price. According to the SEC, on Mar 8, 2016, John Haudrich (Chief Strat. & Integ. Officer) sold 7,294 shares at $15.36 per share price. On Mar 2, 2016, Timothy M. Connors (President, O-I Asia Pacific) purchased 1,500 shares at $15.17 per share price, according to the Form-4 filing with the securities and exchange commission.
Owens-Illinois Inc. is the manufacturer of glass containers. The Company has approximately 75 glass manufacturing plants in over 21 countries. Its product lines include glass containers for the food and beverage industries. The Company operates in four segments: Europe North America South America and Asia Pacific. The Europe segment primarily produces glass containers for beer wine champagne spirits and food markets. The North America segment has glass container manufacturing plants in the United States and Canada. The South America segment primarily produces glass containers for beer non-alcoholic beverages spirits flavored malt beverages wine food and pharmaceuticals markets. The Asia Pacific segment primarily produces glass containers for the beer wine food and non-alcoholic beverage markets. The Company also produces glass packaging for a variety of food items soft drinks teas juices and pharmaceuticals.