S&P 500 (NYSE:SPY) component Owens Illinois Inc. (NYSE:OI) will unveil its latest earnings on Wednesday, July 27, 2011. Owens-Illinois, Inc. manufactures glass containers primarily for the food and beverage industries in Europe, North America, South America and Asia Pacific.
Owens Illinois Inc. Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for net income of 62 cents per share, a decline of 31.1% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 90 cents. Between one and three months ago, the average estimate moved down and dropped from 64 cents during the last month. For the year, analysts are projecting profit of $2.46 per share, a decline of 5.4% from last year.
Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the first quarter, it reported net income of 47 cents per share against a mean estimate of profit of 45 cents per share. In the fourth quarter of the last fiscal year, it missed forecasts by 2 cents.
Wall St. Revenue Expectations: On average, analysts predict $1.89 billion in revenue this quarter, a rise of 10.5% from the year ago quarter. Analysts are forecasting total revenue of $7.35 billion for the year, a rise of 10.9% from last year’s revenue of $6.63 billion.
Analyst Ratings: Analysts are bullish on this stock with six analysts rating it as a buy, none rating it as a sell and three rating it as a hold.
A year-over-year revenue increase in the first quarter snaps a streak of three consecutive quarters of revenue declines. Revenue rose 8.6% in the first quarter and fell 14.3% in the fourth quarter of the last fiscal year, 7.1% in the third quarter of the last fiscal year and 5.3% in the second quarter of the last fiscal year.
Stock Price Performance: During May 24, 2011 to July 21, 2011, the stock price had fallen $4.38 (-14.1%) from $31.08 to $26.70. The stock price saw one of its best stretches over the last year between June 28, 2011 and July 7, 2011 when shares rose for seven-straight days, rising 6.7% (+$1.67) over that span. It saw one of its worst periods between August 2, 2010 and August 11, 2010 when shares fell for eight-straight days, falling 8% (-$2.24) over that span. Shares are down $4 (-13%) year to date.
(Source: Xignite Financials)