NEW YORK (TheStreet) -- Owens-Illinois (OI - Get Report) stock is up by 8.45% to $13.35 on heavy trading volume on Tuesday afternoon, after the company reported its 2015 fourth quarter earnings results.
After the market close on Monday, the glass container manufacturer reported adjusted earnings of 40 cents per share on revenue of $1.62 billion, which was in-line with analysts' forecasts.
However, the company projected lower-than-expected 2016 earnings. Owens-Illinois expects full-year earnings in the range of $2.10 to $2.25 per share, while analysts were expecting earnings of $2.27 per share.
"We expect that trends in the majority of our end markets will remain stable in 2016 and O-I will increasingly benefit from our growing exposure to U.S. beer imports and the Mexican domestic market," CEO Andres Lopez said in a statement on Monday.
So far today, 3.46 million shares of Owens-Illinois have traded, versus its 30-day average of 2.22 million shares.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "sell" with a ratings score of D+. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, poor profit margins and weak operating cash flow.
You can view the full analysis from the report here: OIOI data by YCharts