Corning Incorporated (GLW) Set to Announce Earnings on Tuesday
Corning Incorporated (NYSE:GLW) is set to release its earnings data before the market opens on Tuesday, October 24th. Analysts expect Corning to post earnings of $0.43 per share for the quarter.
Corning (NYSE:GLW) last released its earnings results on Wednesday, July 26th. The electronics maker reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Corning had a net margin of 24.16% and a return on equity of 11.67%. Corning’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $0.37 EPS. On average, analysts expect Corning to post $1.68 EPS for the current fiscal year and $1.72 EPS for the next fiscal year.
Corning Incorporated (NYSE:GLW) opened at 30.06 on Friday. Corning Incorporated has a 1-year low of $22.23 and a 1-year high of $32.17. The firm’s 50-day moving average is $29.70 and its 200 day moving average is $29.28. The firm has a market cap of $27.15 billion, a PE ratio of 13.43 and a beta of 1.38.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 16th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.06%. Corning’s dividend payout ratio is 27.93%.
GLW has been the subject of a number of research analyst reports. Vetr raised Corning from a “buy” rating to a “strong-buy” rating and set a $33.69 price target for the company in a report on Monday, July 10th. BidaskClub raised Corning from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Guggenheim reaffirmed a “buy” rating and issued a $35.00 price target on shares of Corning in a report on Tuesday, August 15th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $35.00 price target on shares of Corning in a report on Thursday, August 24th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Corning in a report on Thursday, July 27th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Corning currently has an average rating of “Hold” and an average target price of $28.90.
In other news, Vice Chairman Lawrence D. Mcrae sold 48,125 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $28.61, for a total transaction of $1,376,856.25. Following the completion of the transaction, the insider now directly owns 136,079 shares in the company, valued at approximately $3,893,220.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Christine M. Pambianchi sold 33,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $28.56, for a total value of $942,480.00. Following the transaction, the vice president now owns 73,145 shares of the company’s stock, valued at $2,089,021.20. The disclosure for this sale can be found here. Insiders have sold a total of 127,888 shares of company stock valued at $3,653,485 over the last 90 days. Corporate insiders own 0.59% of the company’s stock.
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).
Receive News & Stock Ratings for Corning Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corning Incorporated and related stocks with our FREE daily email newsletter.