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O-I Glass (OI) Outpaces Stock Market Gains: What You Should Know
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O-I Glass (OI - Free Report) closed the most recent trading day at $21.15, moving +1.29% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.93%. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq added 1.71%.
Heading into today, shares of the glass container manufacturer had lost 0.38% over the past month, lagging the Industrial Products sector's gain of 4.17% and the S&P 500's gain of 4.61% in that time.
O-I Glass will be looking to display strength as it nears its next earnings release. On that day, O-I Glass is projected to report earnings of $0.83 per share, which would represent year-over-year growth of 13.7%. Meanwhile, our latest consensus estimate is calling for revenue of $1.86 billion, up 4.44% from the prior-year quarter.
OI's full-year Zacks Consensus Estimates are calling for earnings of $3.17 per share and revenue of $7.23 billion. These results would represent year-over-year changes of +37.83% and +5.46%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.24% higher. O-I Glass is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, O-I Glass currently has a Forward P/E ratio of 6.58. This valuation marks a discount compared to its industry's average Forward P/E of 11.91.
Meanwhile, OI's PEG ratio is currently 0.47. 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. The Glass Products industry currently had an average PEG ratio of 0.47 as of yesterday's close.
The Glass Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 39, which puts it in the top 16% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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O-I Glass (OI) Outpaces Stock Market Gains: What You Should Know
O-I Glass (OI - Free Report) closed the most recent trading day at $21.15, moving +1.29% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.93%. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq added 1.71%.
Heading into today, shares of the glass container manufacturer had lost 0.38% over the past month, lagging the Industrial Products sector's gain of 4.17% and the S&P 500's gain of 4.61% in that time.
O-I Glass will be looking to display strength as it nears its next earnings release. On that day, O-I Glass is projected to report earnings of $0.83 per share, which would represent year-over-year growth of 13.7%. Meanwhile, our latest consensus estimate is calling for revenue of $1.86 billion, up 4.44% from the prior-year quarter.
OI's full-year Zacks Consensus Estimates are calling for earnings of $3.17 per share and revenue of $7.23 billion. These results would represent year-over-year changes of +37.83% and +5.46%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.24% higher. O-I Glass is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, O-I Glass currently has a Forward P/E ratio of 6.58. This valuation marks a discount compared to its industry's average Forward P/E of 11.91.
Meanwhile, OI's PEG ratio is currently 0.47. 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. The Glass Products industry currently had an average PEG ratio of 0.47 as of yesterday's close.
The Glass Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 39, which puts it in the top 16% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.