Corning Incorporated (NYSE:GLW)‘s stock had its “hold” rating reaffirmed by stock analysts at Jefferies Group LLC in a report released on Friday. They currently have a $29.50 price objective on the electronics maker’s stock. Jefferies Group LLC’s price objective would suggest a potential downside of 1.96% from the stock’s previous close.

A number of other brokerages also recently issued reports on GLW. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $35.00 price target on shares of Corning in a report on Thursday, August 24th. BidaskClub downgraded shares of Corning from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Drexel Hamilton reiterated a “sell” rating and issued a $17.50 price target on shares of Corning in a report on Wednesday, July 26th. Guggenheim reiterated a “buy” rating and issued a $35.00 price target on shares of Corning in a report on Thursday, September 21st. Finally, Vetr upgraded shares of Corning from a “buy” rating to a “strong-buy” rating and set a $33.69 price target on the stock in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Corning has a consensus rating of “Hold” and an average price target of $28.90.

Corning (NYSE GLW) opened at 30.09 on Friday. The company has a market cap of $27.18 billion, a PE ratio of 13.44 and a beta of 1.38. Corning has a 1-year low of $22.23 and a 1-year high of $32.17. The company has a 50-day moving average price of $29.29 and a 200-day moving average price of $29.09.

Corning (NYSE:GLW) last announced its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.54 billion. Corning had a net margin of 24.16% and a return on equity of 11.67%. Corning’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 EPS. On average, analysts expect that Corning will post $1.69 EPS for the current fiscal year.

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In related news, Vice Chairman Lawrence D. Mcrae sold 48,125 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $28.61, for a total transaction of $1,376,856.25. Following the transaction, the insider now directly owns 136,079 shares in the company, valued at approximately $3,893,220.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christine M. Pambianchi sold 33,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $28.56, for a total transaction of $942,480.00. Following the transaction, the vice president now owns 73,145 shares in the company, valued at $2,089,021.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,888 shares of company stock worth $3,653,485. Insiders own 0.59% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Corning by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 62,101,521 shares of the electronics maker’s stock valued at $1,866,151,000 after purchasing an additional 965,976 shares during the last quarter. BlackRock Inc. grew its holdings in Corning by 1,930.0% during the 1st quarter. BlackRock Inc. now owns 56,841,179 shares of the electronics maker’s stock valued at $1,534,712,000 after purchasing an additional 54,041,176 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Corning by 5.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,882,917 shares of the electronics maker’s stock valued at $537,381,000 after purchasing an additional 971,936 shares during the last quarter. LSV Asset Management grew its holdings in Corning by 1.3% during the 2nd quarter. LSV Asset Management now owns 13,011,732 shares of the electronics maker’s stock valued at $391,002,000 after purchasing an additional 165,214 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Corning by 12.8% during the 1st quarter. Geode Capital Management LLC now owns 9,425,858 shares of the electronics maker’s stock valued at $254,146,000 after purchasing an additional 1,071,544 shares during the last quarter. Institutional investors own 71.30% of the company’s stock.

Corning Company Profile

Corning Incorporated is engaged in manufacturing specialty glass and ceramics. Its segments include Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, Life Sciences and All Other. The Display Technologies segment manufactures glass substrates for flat panel liquid crystal displays (LCDs).

Analyst Recommendations for Corning (NYSE:GLW)

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