O-I earns BB credit rating

O-I has received a “BB” credit rating from analysts, which suggests that the company is an above-average default risk. The analysts also gave the stock a four star rating. O-I last released its earnings data on 2 February, reporting USD 0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate.

Owens-Illinois (O-I) has received a “BB” credit rating from analysts at Morningstar. The investment research firm’s “BB” rating suggests that the company is an above-average default risk. They also gave the stock a four star rating.
A number of other analysts have also recently weighed in on O-I. Analysts at Citigroup Inc. reiterated a “hold” rating and set a USD 27.00 price target (up previously from USD 26.00) on shares of O-I in a research note on 11 February. Analysts at Barclays lowered their price target on shares of O-I from USD 25.00 to USD 24.00 and set an “equal weight” rating on the stock in a research note on 20 January. Analysts at Bank of America lowered their price target on shares of O-I from USD 27.00 to USD 26.00 and set an “underperform” rating on the stock in a research note on 9 December.
Finally, analysts at BMO Capital Markets downgraded shares of O-I from an “outperform” rating to a “market perform” rating in a research note on 20 November. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “hold” and a consensus target price of USD 29.67.
O-I opened at 26.36 on 17 February. O-I has a one year low of USD 22.65 and a one year high of USD 35.18. The stock’s 50-day moving average is USD 24.85 and its 200-day moving average is USD 26.93. The company has a market cap of USD 4.329 billion and a price-to-earnings ratio of 57.43.
O-I last released its earnings data on 2 February. The company reported USD 0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of USD 0.46. The company had revenue of USD 1.60 billion for the quarter. During the same quarter in the previous year, the company posted USD 0.51 earnings per share. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. Analysts expect O-I to post USD 2.43 EPS for the current fiscal year.
Owens-Illinois, Inc. is a glass container manufacturer and a preferred partner for various food and beverage brands. It provides glass packaging for beer, wine, spirits, food, non-alcoholic beverages, cosmetics and pharmaceuticals. It also produces tableware and stemware for household use.