NEW YORK (TheStreet) -- Shares of Owens-Illinois Inc. (OI) are down by 1.71% to $28.09 at the start of trading on Thursday, as the stock continues to decline afire the announcement the company made on Wednesday, stating earnings per share for the 2014 third quarter are expected to be lower by at least 5%.
A 5% decline would see the glass container manufacturer's earnings reach about 75 cents per share.
Analysts polled by FactSet had forecast earnings of 88 cents per share for the 2014 third quarter.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Additionally, Robert Baird lowered its rating on Owens-Illinois to "neutral" from "outperform," as the firm believes the company is facing continued growth challenges.
Robert Baird cut its price target on the stock to $32 from $40.
Separately, TheStreet Ratings team rates OWENS-ILLINOIS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate OWENS-ILLINOIS INC (OI) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."