Owens Illinois Inc. Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Owens Illinois Inc. (NYSE:OI) will unveil its latest earnings on Wednesday, October 26, 2011. Owens-Illinois 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 profit of 72 cents per share, a decline of 20% 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 80 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 73 cents during the last month. Analysts are projecting profit to rise by 12.3% versus last year to $2.28.

Past Earnings Performance: Last quarter, the company fell short of estimates by 2 cents, coming in at net income of 59 cents per share against a mean estimate of profit of 62 cents. The company topped expectations in the first quarter.

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Wall St. Revenue Expectations: On average, analysts predict $1.93 billion in revenue this quarter, a rise of 10.9% from the year ago quarter. Analysts are forecasting total revenue of $7.44 billion for the year, a rise of 12.2% from last year’s revenue of $6.63 billion.

Analyst Ratings: Analysts are bullish on this stock with four analysts rating it as a buy, none rating it as a sell and two rating it as a hold.

A Look Back: In the second quarter, profit fell 48.3% to $73 million (43 cents a share) from $141.1 million (85 cents a share) the year earlier, missing analyst expectations. Revenue rose 14.5% to $1.96 billion from $1.71 billion.

Key Stats:

The company’s revenue has risen for two straight quarters. In the first quarter, the figure rose 8.6%.

Stock Price Performance: During July 27, 2011 to October 20, 2011, the stock price had fallen $7.05 (-27.3%) from $25.86 to $18.81. The stock price saw one of its best stretches over the last year between July 18, 2011 and July 26, 2011 when shares rose for seven-straight days, rising 10.4% (+$2.53) over that span. It saw one of its worst periods between September 15, 2011 and September 22, 2011 when shares fell for six-straight days, falling 14.5% (-$2.69) over that span. Shares are down $11.89 (-38.7%) year to date.

(Source: Xignite Financials)

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