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O-I Glass (OI) Gains As Market Dips: What You Should Know

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O-I Glass (OI - Free Report) closed the most recent trading day at $20.40, moving +1.19% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.45%. Meanwhile, the Dow lost 0.04%, and the Nasdaq, a tech-heavy index, added 3.58%.

Heading into today, shares of the glass container manufacturer had lost 7.95% over the past month, lagging the Industrial Products sector's gain of 7.3% and the S&P 500's gain of 5.01% in that time.

Wall Street will be looking for positivity from O-I Glass as it approaches its next earnings report date. In that report, analysts expect O-I Glass to post earnings of $0.83 per share. This would mark year-over-year growth of 13.7%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.86 billion, up 4.44% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $3.17 per share and revenue of $7.23 billion, which would represent changes of +37.83% and +5.46%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for O-I Glass. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. O-I Glass is currently sporting a Zacks Rank of #1 (Strong Buy).

Looking at its valuation, O-I Glass is holding a Forward P/E ratio of 6.35. For comparison, its industry has an average Forward P/E of 11.84, which means O-I Glass is trading at a discount to the group.

Investors should also note that OI has a PEG ratio of 0.46 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Glass Products was holding an average PEG ratio of 0.46 at yesterday's closing price.

The Glass Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 40, putting 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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