Owens-Illinois Lifts Outlook on Robust Results, Reduced Taxes; Raising FVE to $20 From $19
Owens-Illinois performed better than we had expected in the second quarter, with first-quarter margin improvements remaining in place in developed markets. On a consolidated basis, prices rose about 1% year over year, despite volumes dipping marginally. While our long-term regional forecasts for glass container volumes and margins remain intact, we've updated our near-term forecasts to account for wider margins and a reduced tax rate in 2017. We have raised our fair value estimate to $20 from $1...Owens-Illinois is a manufacturer of glass containers. The company has three reportable segments based on its geographic locations: Americas, Europe, and Asia Pacific. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine. The company also produces glass packaging for a variety of food items, soft drinks, teas, juices and pharmaceuticals. The company manufactures glass containers in a range of sizes, shapes and colors. The company also provides engineering support for its glass manufacturing operations through facilities located in the U.S., Australia, France, Poland and Peru.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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