O-I Glass Inc. (NYSE: OI) stock fell -2.13% on Wednesday to $21.61 against a previous-day closing price of $22.08. With 0.68 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.08 million shares. During the session, the Packaging & Containers company that operates in wider Consumer Cyclical sector, reached to the highest price of $21.94 whereas the lowest price it dropped to was $21.47. The 52-week range on OI shows that it touched its highest point at $23.52 and its lowest point at $11.60 during that stretch. It currently has a 1-year price target of $27.00. Beta for the stock currently stands at 1.38.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of OI was up-trending over the past week, with a rise of 0.61%, but this was up by 2.66% over a month. Three-month performance dropped to -0.32% while six-month performance rose 30.02%. The stock gained 48.73% in the past year, while it has gained 30.42% so far this year. A look at the trailing 12-month EPS for OI yields 4.42 with Next year EPS estimates of 3.17. For the next quarter, that number is 0.83. This implies an EPS growth rate of 314.70% for this year and -0.16% for next year. EPS is expected to grow by 9.66% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 28.10%.
Float and Shares Shorts:
At present, 154.70 million OI shares are outstanding with a float of 153.24 million shares on hand for trading. On Apr 27, 2023, short shares totaled 2.95 million, which was 1.90% higher than short shares on Mar 30, 2023. In addition to Mr. Andres Alberto Lopez as the firm’s CEO, Pres & Director, Mr. John A. Haudrich serves as its Sr. VP & CFO.
Through their ownership of 94.12% of OI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 57.26% of OI, in contrast to 38.44% held by mutual funds. Shares owned by individuals account for 1.81%. As the largest shareholder in OI with 14.46% of the stake, BlackRock Fund Advisors holds 22,446,991 shares worth 22,446,991. A second-largest stockholder of OI, The Vanguard Group, Inc., holds 19,231,753 shares, controlling over 12.39% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in OI, holding 19,206,728 shares or 12.37% stake. With a 7.22% stake in OI, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 11,214,503 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.09% of OI stock, is the second-largest Mutual Fund holder. It holds 4,799,026 shares valued at 107.83 million. Vanguard Small Cap Index Fund holds 2.60% of the stake in OI, owning 4,038,235 shares worth 90.74 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, OI reported revenue of $1.78B and operating income of $182.00M. The EBITDA in the recently reported quarter was $490.00M and diluted EPS was $1.59.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for OI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With OI analysts setting a high price target of $37.00 and a low target of $19.00, the average target price over the next 12 months is $27.67. Based on these targets, OI could surge 71.22% to reach the target high and fall by -12.08% to reach the target low. Reaching the average price target will result in a growth of 28.04% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded OI stock several times over the past three months with 5 Buys and 4 Sells. In these transactions, 198,318 shares were bought while 131,097 shares were sold. The number of buy transactions has increased to 10 while that of sell transactions has risen to 10 over the past year. The total number of shares bought during that period was 432,735 while 328,613 shares were sold.