Owens-Illinois Inc (OI) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $0.65 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.63. The company posted revenue of $1760.00 million in the period, compared to analysts expectations of $1727.12 million. The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS.
Many Wall Street Analysts have commented on Owens-Illinois Inc. Owens-Illinois Inc was Initiated by Goldman to “Sell” on May 12, 2016.
Owens-Illinois Inc closed down -0.37 points or -1.94% at $18.73 with 30,07,176 shares getting traded on Thursday. Post opening the session at $19.21, the shares hit an intraday low of $18.62 and an intraday high of $19.73 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Jun 16, 2016, Gordon Hardie (director) purchased 3,400 shares at $18.65 per share price. According to the SEC, on Mar 9, 2016, Albert P L Stroucken (Exec. Chairman of the Board) sold 56,148 shares at $14.94 per share price. On Mar 8, 2016, John Haudrich (Chief Strat. & Integ. Officer) sold 7,294 shares at $15.36 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.