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O-I Glass (OI) Gains But Lags Market: What You Should Know
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In the latest trading session, O-I Glass (OI - Free Report) closed at $22.65, marking a +0.22% move from the previous day. This move lagged the S&P 500's daily gain of 1.33%. Elsewhere, the Dow gained 1.14%, while the tech-heavy Nasdaq added 2.94%.
Heading into today, shares of the glass container manufacturer had gained 7.11% over the past month, outpacing the Industrial Products sector's loss of 0.81% and the S&P 500's gain of 6.11% in that time.
Investors will be hoping for strength from O-I Glass as it approaches its next earnings release, which is expected to be April 25, 2023. In that report, analysts expect O-I Glass to post earnings of $0.82 per share. This would mark year-over-year growth of 46.43%. Our most recent consensus estimate is calling for quarterly revenue of $1.78 billion, up 5.27% from the year-ago period.
OI's full-year Zacks Consensus Estimates are calling for earnings of $2.58 per share and revenue of $7.19 billion. These results would represent year-over-year changes of +12.17% and +4.8%, respectively.
Any recent changes to analyst estimates for O-I Glass should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3% higher. O-I Glass currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that O-I Glass has a Forward P/E ratio of 8.77 right now. This represents a discount compared to its industry's average Forward P/E of 11.9.
We can also see that OI currently has a PEG ratio of 1.23. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Glass Products stocks are, on average, holding a PEG ratio of 1.23 based on yesterday's closing prices.
The Glass Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 33, which puts it in the top 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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O-I Glass (OI) Gains But Lags Market: What You Should Know
In the latest trading session, O-I Glass (OI - Free Report) closed at $22.65, marking a +0.22% move from the previous day. This move lagged the S&P 500's daily gain of 1.33%. Elsewhere, the Dow gained 1.14%, while the tech-heavy Nasdaq added 2.94%.
Heading into today, shares of the glass container manufacturer had gained 7.11% over the past month, outpacing the Industrial Products sector's loss of 0.81% and the S&P 500's gain of 6.11% in that time.
Investors will be hoping for strength from O-I Glass as it approaches its next earnings release, which is expected to be April 25, 2023. In that report, analysts expect O-I Glass to post earnings of $0.82 per share. This would mark year-over-year growth of 46.43%. Our most recent consensus estimate is calling for quarterly revenue of $1.78 billion, up 5.27% from the year-ago period.
OI's full-year Zacks Consensus Estimates are calling for earnings of $2.58 per share and revenue of $7.19 billion. These results would represent year-over-year changes of +12.17% and +4.8%, respectively.
Any recent changes to analyst estimates for O-I Glass should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3% higher. O-I Glass currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that O-I Glass has a Forward P/E ratio of 8.77 right now. This represents a discount compared to its industry's average Forward P/E of 11.9.
We can also see that OI currently has a PEG ratio of 1.23. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Glass Products stocks are, on average, holding a PEG ratio of 1.23 based on yesterday's closing prices.
The Glass Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 33, which puts it in the top 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.